CannaRoyalty (OTCQX: CNNRF) announced on September 27th the company has entered into a binding agreement to acquire 100% of 180 Smoke and all of its affiliates. The agreement between the two companies is a transaction of C$25 million and C$15 million that will be paid dependent upon meeting specific milestones.
180 Smoke is a Canadian retailer specializing in the sales of vaporizers that utilize nicotine and herbal products. The company currently contributes to the largest portion of the vaporizer market in Canada.
CannaRoyalty seeks to retrofit physical retail locations owned by 180 Smoke, or its subsidiaries, into cannabis dispensaries.