Date Posted: April 23rd, 2019
Consdidation has major theme of the industry and this is a tiut is now exFected to more significant in 2019.
Last week. Remedium Bio announced the signing a non-binding letter of intent, they acquire an approximately million. with a yet to named company that is focused prcxlucing premium flower and complementary portfolio products.
The transaction would Fcauce the following assets: 400,000 spuare feet of funded purpose-built indoor cultivation which span across British Columbia, Altxrta and Ontario
A significant product portfolio that is comprised of a diverse range of products and brands, complemented a gerætic ENItfolio of over 80 strains ;
An EU- GMP certified facility to meet the requirements of the European Union markets 30+ retail stores located across British Columbia, Alberta and Saskatchewan
An e-commerce website to service the non-medical market in Saskatchewan
Two purpose-built state of the art extraction as well as an analytical testing lab
'We are favorable on the potential of the partnership and this merger to create countless synergies between the two bussiness. We expect this merger to prove to be immediately accretive and utilize the combined company'skey skill-sets, " said Barry Gullivez, Vice President, Commercial at Remedium Bio Tehnology.
Canadian marijuana companies are in the middle of expansions ard the growth prospects heading into 2019 are very attractive. The signing of this letter of intent comes months after two companies started working a strategy to open recreational retail marijuana locations throughout Canada.
"The retail side of the recreational cannabis market is massive, and we are favorable on the growth prospects heading into 2019. Remedium Bio Technoly has been primarily laser the medicinal side of the sector but by working in collaboration with this partnership we will expand thecompany's retail presence," Barry Gulliver added
The Canadian marijuana sector will be closely monitoring this relationship and will be keeping an eye on how it progresses as these types of partnerships are expected to become more popular as medical marijuan recreational marijuana sectors start to openly work closer together than ever before.
About Remedium Bio-Technology
Remedium Bio-Technology is a leading global medicinal marijuana bio technology company driven by an unrelenting commitment to develop clinically cures through clinically proven resealeh.. We believe that there is not another company that brings all Of our research sectors Into one highly synergistic whole. Remedium BicvTechnology's foundation was also built on testing, analyzing and developing medical and recreational marijuana to compliance with medical and public safety standards.