The Supreme Cannabis Company and Blissco Cannabis Corp. have entered into a definitive arrangement agreement under which Supreme Cannabis will acquire, by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), all of the issued and outstanding common shares of Blissco not already owned by Supreme Cannabis. The Arrangement is an all-stock transaction with a total value of approximately C$48 million.
"By merging with Supreme Cannabis, Blissco shareholders will benefit from the combined expertise of both companies in growing premium cannabis brands, producing and procuring high-quality inputs, commercializing new products, and ensuring regulatory compliance. Blissco shareholders will also benefit from Supreme Cannabis’ enhanced trading liquidity on the TSX and greater access to capital that will allow us to focus and accelerate Blissco’s wellness business,” said Damian Kettlewell, CEO of Blissco.
“This transaction will allow Blissco to focus its business around the production and commercialization of cannabis oils and topicals for the premium wellness consumer,” said Navdeep Dhaliwal, CEO of Supreme Cannabis.
Based in Langley, BC, Blissco operates a 18,000 square foot production facility with advanced extraction capabilities. According to the company, Blissco has completed phase 1 of construction of its cannabis oil extraction lab. Blissco has been producing cannabis oils since receiving its production license in August 2018.
For more information:
Supreme Cannabis
202 – 20 De Boers Dr, Toronto ON
M3J 0H1
Phone: (416) 630-7272
[email protected]
supreme.ca