23 Aug 2017

Canada’s Maricann buys biotech firm, raises CA$35M to up capacity

Maricann Group announced a double-dose of positive news this week. The Toronto medical marijuana producer and distributor (Canadian Securities Exchange: MARI) said it agreed to purchase biotech company NanoLeaf Technologies for 38.5 million Canadian dollars ($30 million). Maricann also secured up to CA$35 million in funding through a private placement of convertible debt. Under the acquisition, shareholders of Toronto-based NanoLeaf will receive some 18.3 million common shares of Maricann stock at CA$2.10 per share. Maricann will also loan NanoLeaf CA$1.6 million in cash. NanoLeaf, through its licensing agreement with Vesifact AG of Switzerland, has ... Canada’s Maricann buys biotech firm, raises CA$35M to up capacity is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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