Major Canadian MMJ Merger Closes
Tweed Marijuana has completed its blockbuster acquisition of Bedrocan Cannabis, creating a dominant force in Canada’s MMJ industry.
The all-stock deal between the publicly traded companies was valued at roughly $61 million Canadian dollars when it was announced earlier this year.
Bedrocan shareholders own about 40% of the new company, while Tweed shareholders own 60%, according to 24/7 Wall St.
The merged company has more than 5,600 MMJ patients as customers and will soon process MMJ oils in addition to dried cannabis flower. Bedrocan is now operating as a unit of Tweed, according to the news