MJBizMag October 2020 - 22

CompanyNews | U.S., Canada & International
Truss Beverage Co. joint venture, marking increased
competition in Canada's much-hyped marijuana
beverage market. The lineup of five drink brands
includes both CBD and THC products. Most contain
between 2.5 milligrams and 5 milligrams of THC.
The XMG beverage brand contains 10 milligrams of
THC, the maximum allowed under Canadian cannabis
regulations.
Acquisition Creates MJ Retail Giant
Canadian marijuana retailer High Tide is acquiring
competitor Meta Growth Corp., creating an entity
touted as Canada's largest cannabis retailer. The
combined companies will operate 63 retail stores
across Alberta, Manitoba, Ontario and Saskatchewan
with plans to grow to approximately 115 locations by
the end of 2021.
Meta Growth shareholders will receive 0.824 High
Tide shares for each Meta share held. Those
shares could be worth $6.1 million-$6.9 million
(CA$8 million-CA$9 million) on an annual basis, the
companies said. Together, the two companies will have
an estimated $15.9 million in cash.
High Tide CEO Raj Grover will lead the combined
company. High Tide, which currently trades on the
Canadian Securities Exchange as HITI, plans to relist
its shares on the TSX Venture Exchange after the
acquisition is complete. Meta Growth Corp. trades on
the TSX Venture Exchange as META.
Canadian Partners Launch Beverage Line
Cannabis producer Hexo Corp. of Ottawa, Ontario,
and brewer Molson Coors Canada in Montreal,
have launched new beverage products under their
Cultivation
Acquisition Complete
Toronto-based Trichome
Financial wrapped up
its acquisition of the assets of James E. Wagner
Cultivation Corp. (JWC), a cannabis industry lender
headquartered in Ontario. The company also said its
subsidiary, Trichome JWC Acquisition Corp., received
licenses from Health Canada to operate JWC's two
marijuana facilities in Ontario.
The announcement capped off a monthslong process
in which JWC entered creditor protection and put its
assets up for sale. The creditor-protection proceedings
and acquisition process extinguished approximately
$14.6 million (CA$19 million) of JWC's third-party
liabilities. Trichome's total consideration for JWC's
assets was CA$16 million.
The restructured company's full-time equivalent
staff levels have been reduced by about 40%, to
107 employees, saving roughly $2.3 million per year,
according to Trichome. Trichome's new guidance for TJAC
includes net revenue of $16.9 million-$18.4 million for
the 2021 fiscal year, with annual flower production of
12,566 pounds (5,700 kilograms).
services to the German Federal Institute for Drugs
and Medical Devices (BfArM). To do that, Cansativa
will deliver to German pharmacies the cannabis flower
grown by the German subsidiaries of Canadian-based
Aurora Cannabis and Aphria as well as Germanyheadquartered
Demecan.
Exclusive German Cannabis Distributor Announced
Mörfelden-Walldorf-based Cansativa won the German
distribution tender, becoming the sole distributor of
all cannabis grown in Germany for medical purposes
during the next four years, the company announced in
a news release.
The company, located in the Frankfurt Rhine-Main
Region, will provide logistics, wholesale and distribution
22 Marijuana Business Magazine | October 2020
Clever Leaves Nabs Portuguese License
Clever Leaves, a multinational cannabis company
with its main operations in Colombia, obtained a
license to cultivate, sell and export medical cannabis
in Portugal. Clever Leaves said the license it received
from Infarmed, the Portuguese health authority, is
provisional since the facility has not been physically
inspected because of the COVID-19 pandemic.
However, the license " gives Clever Leaves Portugal the
INTERNATIONAL DEVELOPMENTS
CANADA DEVELOPMENTS
MJBizMag October 2020

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