MediPharm Labs acquires Vivo Cannabis in Canadian all-stock deal

MediPharm Labs is acquiring Vivo Cannabis in an all-stock deal, marking the latest consolidation move in the Canadian cannabis industry. The companies said in a news release Thursday that the acquisition "is expected to combine the complementary strengths of diversified revenues across multiple markets and channels. Based on the companies' third-quarter results and approximately C$30 million in combined cash, the combined business will have annual revenues of more than C$50 million ($36.6 million). Upon completion of the acquisition, MediPharm shareholders will own 65%-79% of the combined company, while Vivo shareholders will own 21%-35%, depending on how much interim working capital Vivo has at closing. mediPharm's shares trade on the Toronto Stock Exchange as LABS, while Vivo's shares trade as VIVO.

Information source: new.qq.com/omn/author/8713560