Cann-Is Capital Corp., a Canadian company that helps cannabis companies raise capital, has bought all outstanding equity of CWE European Holdings, a privately held Canadian holding company that sells CBD in German-speaking countries in Europe.
Cann-Is Capital did not disclose a purchase amount.
CWE owns and operates six stores in Germany through DCI GmbH, a wholly owned German subsidiary, and one store in Luxembourg through CBD Wellness Europe. The stores operate under the brand name Hanf and sell hemp-derived products including CBD.
According to Cann-Is, CWE had 2018 net revenue of about $860,000 (CA$1.1 million), with a $152,000 net income (CA$203,000). Cann-Is Capital trades on the TSX Venture Exchange as NIS.P.
To read more about the acquisition, click here.
Subscribe to our Newsletter
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers