BevCanna Enterprises Inc. (CSE:BEV) (OTCQB:BVNNF) is taking over a Canadian producer of beverages and consumer products.
The Vancouver manufacturer of cannabinoid-infused beverages has entered into an amended and restated agreement to acquire Naturo Group Inc.
The move is a step closer to the previously announced closing of the deal, initially scheduled for Jan. 20.
Once the transaction is finalized, Naturo will become BevCanna’s wholly-owned subsidiary.
BevCanna will also own an on-site natural alkaline spring water aquifer, valued at about CA $18 million ($14.1 million).
The acquisition brings to the company a mass-market distribution network of more than 3,000 retail points, as well as Naturo’s beverage facility spanning 40,000 square feet, and a 315-acres of outdoor cultivatable land, to name a few.