BevCanna, a white-label CBD drinks maker in Vancouver, British Columbia, has acquired an online company in an all-stock deal worth $4.6 million (CA$6 million).
The purchase of Naturally Pure Therapy Products Corp. brings the drinks maker access to new customers in the U.S., BevCanna said in a company statement.
“We see this as an excellent entry point into the burgeoning U.S. and the worldwide market,” John Campbell, chief strategic officer at BevCanna, said in the statement.
BevCanna will issue 30,000,000 common shares valued at 20 cents per share.
BevCanna grows cannabis on 298 acres and trades on the Canadian Securities Exchange as BEV.