Cannara Acquires Medican Organic, Appoints Sosiak COO

Cannara Acquires Medican Organic

Quebec-based cannabis producer Cannara Biotech (TSX: LOVE) has announced that its acquisition of Medican Organic Inc has now been finalised.  The $2.8m all-cash transaction sees Cannara acquire all outstanding shares of Medican, a wholly owned subsidiary of BZAM Ltd., following Medican’s emergence from Companies’ Creditors Arrangement Act (CCAA) proceedings involving its parent company BZAM Ltd., which had previously traded as The Green Organic …

Cannara Acquires Medican Organic, Appoints Sosiak COO

MONTREAL — Cannara Biotech Inc. acquired all of the shares of Medican Organic Inc., a wholly owned subsidiary of BZAM Ltd., for an aggregate purchase price of $2.8 million. The acquisition completes Cannara’s prior acquisition of the Valleyfield cultivation and manufacturing facility, purchased from Medican on June 8, 2021. The acquisition was completed following Medican’s exit from proceedings under the Companies’ Creditors Arrangement Act (“CC…