Cann-Is Capital Corp., a Canadian firm that aids cannabis firms raise capital, has purchased all outstanding equity of CWE European Holdings, a privately held Canadian holding firm that sells CBD in German-speaking nations in Europe.
Cann-Is Capital did not disclose a buy quantity.
CWE owns and operates six retailers in Germany via DCI GmbH, a wholly owned German subsidiary, and a single retailer in Luxembourg via CBD Wellness Europe. The retailers operate below the brand name Hanf and sell hemp-derived goods which includes CBD.
According to Cann-Is, CWE had 2018 net income of about $860,000 (CA$1.1 million), with a $152,000 net earnings (CA$203,000). Cann-Is Capital trades on the TSX Venture Exchange as NIS.P.
To study much more about the acquisition, click right here.
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