BevCanna Enterprises Acquires Naturally Pure Therapy Products Corp.
September 4, 2020
BevCanna Enterprises Inc. entered into a share exchange agreement to acquire Naturally Pure Therapy Products Corp., a direct-to-consumer e-commerce retailer of natural health, nutraceutical and hemp-based CBD products. BevCanna will issue 30,000,000 common shares (deemed $0.20 per share; total deemed consideration C$6,000,000) in exchange for all issued and outstanding securities of Pure Therapy, providing BevCanna with an established e-commerce platform, ~22,000 customers and recurring subscription revenue to support launch and expansion of hemp-based CBD beverages into North America and Western Europe.
- Buyers
- BevCanna Enterprises Inc.
- Targets
- Naturally Pure Therapy Products Corp.
- Sellers
- Shareholders of Naturally Pure Therapy Products Corp.
- Industry
- Consumer Products
- Location
- Canada
- Transaction Type
- Buyout
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