MJBizMag March 2022 - 17

COMPANY NEWS
CANADIAN & INTERNATIONAL DEVELOPMENTS
Canadian Beverage
Maker Wraps $21 Million
Acquisition
BevCanna, a Canadian maker of
white-label CBD beverages and
Keef Brands THC drinks, completed
its $21 million all-stock acquisition
of Toronto-based Embark Health,
a solventless extraction company.
BevCanna Chief Financial Officer
John Campbell said the acquisition
includes $11 million in equipment,
an extraction facility in Delta,
British Columbia, and majority ownership
of ProteinQuest.
Little Green Pharma
to 'Demerge' Unit
Australian cannabis producer
Little Green Pharma says it
plans to " demerge " the ownership
of its psychedelics unit, Reset
Mind Sciences, so the respective
companies can pursue their
strategies as independent
businesses.
A spokesperson for Little Green
Pharma (LGP) said the move is
essentially a spinoff, and LGP will
not retain any financial interest
in the psychedelics company. LGP
entered the psychedelics space in
late 2020.
Investor Seeks to Oust
Most of Hexo's Board
An activist shareholder of Canadian
cannabis producer Hexo Corp. is
pushing to replace the majority
of the company's board, alleging
the board was " grossly remiss " in
approving " destructive financings, "
according to a news release.
Adam Arviv owns approximately
2% of Hexo, the news release noted,
and has been " waging a battle "
with Hexo management since
it acquired competing Canadian
producer Redecan for $730 million
(CA$925 million) in 2021.
Have a company announcement you
want us to consider? Send a news
release or general information to
editorial@mjbizdaily.com.
(Note: We're looking for news
about expansions, financing,
deals, partnerships and similar
developments, not product
announcements.)

MJBizMag March 2022

Table of Contents for the Digital Edition of MJBizMag March 2022

MJBizMag March 2022 - 1
MJBizMag March 2022 - 2
MJBizMag March 2022 - 3
MJBizMag March 2022 - 4
MJBizMag March 2022 - 5
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