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.
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BevCanna’s Pure Therapy Reports Record Monthly Revenue
January 20, 2021 GMT
VANCOUVER, British Columbia (BUSINESS WIRE) Jan 20, 2021
Emerging leader in health and wellness beverages and products, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“
BevCanna ” or the “
Pure Therapy, has achieved record sales since its acquisition by BevCanna in September 2020.
The direct-to-consumer e-commerce platform has continued its strong 2020 revenue growth into the first quarter of 2021, with extremely positive month-to-date revenues. The Company has continued to invest in strategic new product integration and customer acquisition, with a resulting projected run rate of approximately C$7.68M in revenue and positive EBITDA of C$.37M to date in 2021. The company has also acquired 3,270 new active customers since its acquisition by BevCanna.
The global CBD-infused beverage market is expected to jump from about $89 million to more $1.4 billion just over the next three years, according to Zenith Global. By 2024, that number could soar to about $4.4 billion. In addition, according to Grand .