Recent Developments in the North American Cannabis Market
A report by New Frontier Data in partnership with
Inner Spirit is the parent company of
Under the terms of the Transaction, the Company acquired 15,000,000 common shares of Inner Spirit ("Inner Spirit Shares") and pursuant to a strategic alliance agreement, was granted the exclusive right to supply up to 50 percent of Inner Spirit's annual inventory requirements for any cannabis, cannabis-infused or cannabis-derived products to be sold at its retail dispensaries with a mutually agreeable profit-sharing arrangement relating to any such cannabis product sales. In exchange for the Inner Spirit Shares, the Company provided Inner Spirit with a closing cash payment of
Pursuant to the investment agreement entered into by the Company and Inner Spirit, the Company also exercised its pre-emptive right to acquire an additional 1,500,000 Inner Spirit Shares for
The Company would also like to congratulate Inner Spirit on the concurrent closing of the final tranche of its previously announced private placement for gross proceeds of approximately
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