Laguna Blends (CSE:LAG) to Acquire 100% of Global Cannabis Company with Over $12,000,000 USD in 2016 Sales
Laguna Blends (CSE:LAG; OTCMKTS:LAGBF; FRA:LB6A) is pleased to announce that it has signed a letter of Intent (LOI) to acquire 100% interest of a global Cannabis leader with unaudited annualized sales of $12,000,000 USD and adjusted EBITDA of $1,588,000 USD.
This acquisition is a major step forward in establishing Laguna as an international leader in the global cannabis industry. The Target company has an extensive portfolio of intellectual property and hemp driven CBD products including isolates, full spectrum oils, pain creams, oral sprays and other nutraceutical products. The Target company also has a medical division and is currently focusing on Latin America to develop cannabis-based pharmaceutical products.
The Hemp Business Journal estimates the total U.S. CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources.
“The synergies of the combined entities will allow us to be more aggressive in our expansion and growth strategy and I’m very confident we will be able to create substantial shareholder value through this transaction.”
The Target company has recently acquired a leading brand of innovative cannabis infused beverages that are currently sold in California and Colorado. They also anticipate to close contracts in Canada and several other U.S. markets within the next 90 days. More information will be provided on these contracts in the coming weeks.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).