{"id":6682,"date":"2018-04-23T07:08:33","date_gmt":"2018-04-23T11:08:33","guid":{"rendered":"http:\/\/business.financialpost.com\/?p=1578990"},"modified":"2018-04-23T07:08:33","modified_gmt":"2018-04-23T11:08:33","slug":"the-week-in-marijuana-deals-canopy-buys-czech-company-isodiol-looks-for-international-cbd","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/23\/the-week-in-marijuana-deals-canopy-buys-czech-company-isodiol-looks-for-international-cbd\/","title":{"rendered":"The week in marijuana deals: Canopy buys Czech company, Isodiol looks for international CBD"},"content":{"rendered":"

The cannabis industry was in party mode on Friday for the last “4-20”, marijuana culture\u2019s unofficial holiday, before recreational legalization. The week leading up to the celebrations saw Aphria Inc. launch its first recreational brand Solei Sungrown Cannabis, Hiku Brands Company Ltd. announce a merger with WeedMD Inc. and Aurora Cannabis Inc. announce plans to build a new facility in Medicine Hat, Alta. Here are some of the deals from the week you may have missed. <\/span><\/p>\n

Canopy Czechs in<\/b><\/p>\n

Canopy Growth Corp. continued to expand its international reach, acquiring a company in the Czech Republic for roughly $2.5 million worth of Canopy shares. <\/span><\/p>\n

Annabis Medical s.r.o. \u201ccurrently imports and distributes cannabis products pursuant to federal Czech licences, with products for sale through pharmacy channels across the Czech Republic,\u201d Canopy said in a press release last Sunday. <\/span><\/p>\n

Canopy already has a presence in Europe through subsidiaries Spektrum Cannabis GmbH and Spectrum Cannabis Denmark ApS, which is building a greenhouse in Denmark. <\/span><\/p>\n

Isodiol around the world  <\/b><\/p>\n

Isodiol International Inc., formerly known as Laguna Blends Inc., announced a set of international deals on Tuesday, including the acquisition of U.K.-based BSPG Laboratories Ltd. for US$13 million cash with a further US$8.5 million over the next 16 months. <\/span><\/p>\n

BSPG Labs has a facility that extracts cannabis molecules such as cannabidiol (CBD), Isodiol said in a press release. <\/span><\/p>\n

\u201cAdditional milestone payments of $25mm USD in stock will be made upon BSPG Laboratories Ltd. receiving government approval for an Active Pharmaceutical Ingredient (API), which the company believes is forthcoming,\u201d Isodiol said. <\/span><\/p>\n

Isodiol, which is listed on the Canadian Securities Exchange, also announced the purchase of Brazilian company Purodiol Do Brasil Ltda. for US$2 million in cash and US$3 in common stock, as well as the purchase of three patents for CBD production from Chinese company <\/span>Hankang Biotech Co., Ltd. for US$500,000. <\/span><\/p>\n

CannaRoyalty continues in Cali<\/b><\/p>\n

CannaRoyalty Corp. entered into a binding term sheet to acquire California cannabis grower FloraCal Farms for US$1 million in cash and 3.5 million CannaRoyalty shares. The company will pay a further US$3 million and 3.5 million shares over the next three years based on FloraCal hitting certain milestones.  <\/span><\/p>\n

FloraCal currently has 15,000 square feet of growing space, which the company says generated US$6.4 million in revenue in fiscal 2017 (unaudited). FloraCal plans to increase the growing space to 42,200 sq. ft. in 2019. <\/span><\/p>\n

CannaRoyalty, a cannabis investment company based in Ottawa, has been buying companies in California. In late March, it announced the acquisition of cannabis distributor Rivers Distribution for $20 million, all shares. That followed the acquisition of smaller California distributor, Alta Supply Inc., and cannabis product manufacturer Kaya Management Inc.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

A roundup of some cannabis industry deals you may have missed<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6682"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6682"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6682\/revisions"}],"predecessor-version":[{"id":6683,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6682\/revisions\/6683"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}