Cannabis being grown in a HEXO greenhouse in Quebec in 2018. / Photo by Chris Roussakis /Bloomberg
HEXO Corporation and Zenabis Global Inc. have entered into a definitive agreement that, as proposed, would see the former acquire all of the latter’s issued and outstanding common shares.
Valued at $235 million, the all-share transaction means Zenabis shareholders will receive 0.01772 of a HEXO common share in exchange for each company common share held, notes a joint statement from the two companies.
Previously approved by each company’s Board of Directors (BoD), the deal lays the groundwork for becoming a major cannabis player.
If recent financial results are any indication, “the combined organization would be a top-three licensed producer in terms of combined Canadian recreational cannabis sales,” the statement notes.
Aqualtias is switching to ocean sourced plastic containers for its cannabis products. Photo: Aqualitas
A local cannabis grower is doing its part to make cannabis packaging more environmentally friendly.
Aqualitas who are based in Brooklyn, Nova Scotia (Queens) recently announced a partnership with Sana Packaging who specialize in making containers from recovered ocean plastic.
“While our facility is a low energy and low water consumer due to our LED lights and aquaponic systems, we wanted to do more,” said Josh Adler, Aqualitas’ Director of Operations. “We made it our mission to identify sustainable packaging across all of our product offerings.”
Women-led Aqualitas is growing green with the future in mind.
Author of the article: Sam Riches
Publishing date: Jan 25, 2021  â¢Â January 25, 2021  â¢Â 4 minute read Members of Aqualitas Biker Buds pose for a photo. Photo by Aqualitas Instagram
Article content
This story first appeared in Weekend Dispensary, a new weekly newsletter from The GrowthOp. Signup now to get a story delivered to your inbox every Saturday.Â
Aqualitas, a licensed cannabis producer on the south shore of Nova Scotia, does things a little differently.Â
We apologize, but this video has failed to load.
Try refreshing your browser, or This Nova Scotia company is thriving on fish-fuelled cannabis Back to video