Toronto-based Cannabis Strategies Acquisition Corp. (CSAC) has inked a deal to acquire five U.S. cannabis firms, with plans to combine the operations.
Under the agreement, the company will acquire:
- Nevada-based Washoe Wellness, a cannabis cultivator, producer and distributor with operations in Reno and distribution to Las Vegas.
- LivFree Wellness, also based in Nevada, with three dispensary operations and four cultivation facilities across the state.
- Nevada-based The Canopy NV, which has two dispensaries – one in downtown Reno and another in the Reno suburb North Valleys.
- Massachusetts-based Sira Naturals, a cannabis cultivator and with three dispensaries across the state.
- CannaPunch of Nevada, a cannabis producer with operations in Nevada and Colorado.
Combined revenues for the five firms – which are all licensed for medical and adult-use operations – is projected to be CA$261 million in 2019, according to a news release.
Once the deal closes, CSAC will own three cultivation and production facilities, a center dedicated to cannabis goods manufacturing and eight dispensaries on the West and East coasts.
The transaction is slated to close in the first quarter of 2019.
U.S. cannabis companies willing to work at it will find ample opportunities to raise money.
Seeking the Dispensaries that r listed for trade on the TSX & TSXV That operate in Canada