Cannabis Wheaton Income (TSXV:CBW) announced a share purchase agreement with Robinson’s Cannabis Incorporated, in order to acquire the company outright.
As quoted in the press release:
Located in Kentville, Nova Scotia, Robinson’s is a privately-owned, late-stage licensed producer applicant under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR“) and is currently constructing a 27,700 square foot purpose-built cannabis cultivation facility. Robinson’s has successfully completed Health Canada’s paper-based review process and is currently in the “Confirmation of Readiness” (“COR”) stage. Robinson’s is actively working to complete the build-out of its proposed cultivation facility and provide a COR submission to Health Canada in order to meet the licensing requirements of the ACMPR.
Pursuant to the Share Purchase Agreement, the Company will acquire all of the issued and outstanding shares of Robinson’s (the “Acquisition”). Upon the completion of the Acquisition, Robinson’s will become a wholly-owned subsidiary of the Company.