The resultant company will combine decades of consumer-packaged goods, capital markets, strategy and public company expertise
BevCanna Enterprises Inc () () (FRA:7BC) has provided investors with the highlights and a chance to listen again to a management call given on November 24, which discussed recent developments at the cannabinoid‐infused drinks specialist, notably, the planned deal to buy partner Naturo, a landmark agreement worth C$6.5 million.
The resultant company will combine decades of consumer-packaged goods (CPG), capital markets, strategy and public company expertise from both teams and eliminate all future payment liabilities under BevCanna’s current agreements with drinks manufacturer Naturo.
READ: BevCanna Enterprises eyeing launch of Keef and Cali-Bloom products in first quarter of 2021
"The proposed combination will create the only fully licensed white-label beverage manufacturing and distribution company with the capability to manufacture and distribute both CPG and cannabis-based beverages, with a global multi-channel distribution network of traditional retail and cannabis sales channels," Bevcanna reminded investors in a statement.
Naturo brings over C$35 million of assets, including a 40,000 square foot (sq ft) beverage facility, 315-acres of cultivatable land valued at C$10.4 million, along with beverage manufacturing equipment valued at C$3.4million as of its year-end.
It also adds Naturo's flagship brand, TRACE, which currently enjoys a leadership position within the Canadian fulvic/humic plant-based functional mineral category and is sold in more than 3,000 Canadian retail stores,
The management call also covered activities at BevCanna’s natural health and wellness direct to consumer e-commerce operation in the USA called Pure Therapy, and the group's commercialization plans for the launch of the award-winning Keef and Cali-Bloom cannabis brands in Canada.
There was also an update on BevCanna's goal to obtain a Standard Processing License (SPL). The SPL is in the final review stage and the company is in active discussions with Health Canada.
To access the call replay by telephone: Dial 1-800-319-6413 and use the passcode 5703#. This is available until the end of day on December 1, 2020. To access the call replay through the web, go to the link HERE. The webcast will be available until the end of day February 24, 2021.
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