The benefits ... Deal Highlights:
The combined entity will have over $100M in assets on the balance sheet
and $2.9 million in long-term liabilities.
Adds a unique range of valuable brands, across all three cannabis 2.0 categories,
-->that enables BevCanna to sell differentiated and complementary adult-use and wellness products
includes the "Hazel" Hash Stick, to which BevCanna now holds the exclusive worldwide license, and is the first-of-its-kind in Canadian market.
Adds a state-of-the-art production facility in Delta, BC,
with $17M(1)in tangible and intangible assets including direct ownership of $11M(1) in equipment.
The deemed price of the BevCanna Shares being issued to former Embark securityholders in the transaction is $0.45 per share, which represents a 146 per cent premium to the volume weighted average trading price of the BevCanna Shares on the CSE for the five trading days preceding the date of this announcement.
Bolsters beverage portfolio with the addition of proprietary nanotechnology and rapid onset delivery technology for beverage, topical and edible products,
--->allowing BevCanna to vertically integrate its supply for select in-house and white-label clients.
-->Adds innovative solventless extraction technology that enables BevCanna to offer hash, bubble hash, live rosin and other adult-use cannabis products.
Adds experienced management and operations team members
---> who are pioneers in cannabis, extraction, and drug delivery technology, including: Bruce Dawson-Scully, Founder and Chief Executive Officer of WeedMD (TSXV:ENTG) Marcus "Bubbleman" Richardson, best known as the founding pioneer of bubble hash Michael West, global extraction expert who developed, designed, and built more than a dozen world class extraction facilities for companies such as Cresco Labs (CSE:CL) Diversifies the business between cannabis and wellness with an emphasis on novel technology and high-growth product categories.
Enables cross-utilization of existing licenses, including: Health Canada-issued adult-use sales license that gives BevCanna the ability to sell its products directly to provincial distribution boards across Canada. Health Canada-issued medical sales license that allows for expanded distribution of direct-to-customer.
Exposure to the protein-enhanced and functional food industry with majority ownership of ProteinQuest, which produces a wide range of proprietary hemp seed-derived protein powders, cooking oils, and beverages.