Marijuana Business Magazine January 2020

Marijuana Business Magazine | January 2020 26 Company News | U.S., Canada & International lease for a facility currently under construction and scheduled to be completed in the second quarter of 2020. The facility comprises 2,210 square feet of canopy space and 3,500 square feet of operational, purpose-built space. The deal also includes 15 proprietary genetics with the necessary farming protocols. Extraction Acquisition British Columbia-based extraction company Valens GroWorks acquired all the issued and outstanding shares of hard cider maker Southern Cliff Brands , which does business as Pommies Cider, in a cash-and-stock deal valued at $5.6 million (CA$7.5 million). Pommies operates a 32,000-square-foot facility in the greater Toronto area that is equipped with industrial-scale fermentation and mixing tanks, canning and bottling lines, labeling equipment and a commercial shipping and receiving bay. Pommies submitted its Health Canada application for a microprocessing license in December 2018. Nick and Lindsay Sutcliffe, who founded Pommies in 2010, will join Valens. BC Investment Firm Invests in Michigan Nabis Holdings , a British Columbia company with investments in assets across multiple cannabis sectors, completed investments in two strategically located Michigan properties that have municipal approvals for provisioning centers in Emmett Township and Kawkawlin. These properties bring the company’s total number of investments in Michigan to seven. Pursuant to the investment agreements, the company paid a combination of cash at closing and deferred cash for an undisclosed total amount. NextLeaf Granted Patents in Two Countries The U.S. Patent and Trademark Office granted NextLeaf Solutions , a Vancouver, British Columbia, extraction company, its sixth American patent pertaining to a proprietary chilled cannabinoid extraction process with downstreammedia treatment and filtration. Also, the Superintendency of Industry and Commerce— the Colombian government agency that administers intellectual property rights—issued NextLeaf a patent pertaining to the company’s industrial-scale process of extraction, refinement and distillation of cannabinoids. An intensely focused yet aptly mellow approach to cannabis M&A. 1592 Union Street, Suite 325 San Francisco, CA 94123 415-215-5227 BRE License # 01354419 Our sole focus is California’s cannabis industry, so we interact with more businesses here than any other investment bank. And that’s how we get deals done in California. See our completed deals: KOacq.com/transactions