Cannabis Wheaton Income Corp. (CBW) announced on April 4th that it will acquire Dosecann Inc. for $38 million in common shares of Cannabis Wheaton. The agreement was made three ways and is called a “three-cornered amalgamation”.
The deal had to be made by Cannabis Wheaton with Dosecann’s principal owners and Dosecann. Dosecann’s principal owners made up about 66.96% of all outstanding Dosecann common shares.
As Cannabis Wheaton fully acquires the company, Dosecann will continue its goal to be a full service company that covers all aspects of the medicinal and adult recreational cannabis markets.
Specifically the company wants to create an environment that drives product development by performing extractions and creating and filling packaging in-house. These in-house productions would take place at their Narcotic Control Regulations (NCR) compliant 42,000 sq. ft. facility on Prince Edward Island.