Precision Extraction Solutions and Cascade Sciences Sign Definitive Merger Agreement to Form Sinclair Scientific


<![CDATA[DETROIT and PORTLAND, Ore., June 23, 2021 /PRNewswire/PRESS RELEASE — Precision Extraction Solutions and Cascade Sciences today announced that they have entered into a definitive merger agreement to create Sinclair Scientific, forming the largest cannabis and hemp extraction equipment and services company in the world with a large portfolio of technological offerings. Strategic Rationale and Customer BenefitsThe merger of Precision and Cascade, which is subject to final customary approvals and conditions, marks the first major consolidation in the cannabis extraction equipment and life sciences space. The combined Company, as Sinclair Scientific, intends to add more brands to its robust portfolio, including highly innovative and disruptive technologies in furtherance of its growth and to maintain its position as the world’s premier purveyor of the most innovative equipment, robust technology, and unparalleled customer service in the cannabis extraction and life sciences industries.Global Brand Portfolio Powerhouse: The combined Company’s complementary brand portfolio presents a substantial opportunity for synergies, which will result in increased investments in marketing, innovation, and geographic expansion.Industry Leading Scale: The Agreement brings together two leading operators with combined sales and support teams driving in excess of $100 million in estimated gross revenue. Extensive Reach Across the U.S.: The newly formed entity will have offices, warehousing and production facilities throughout the United States including California, Colorado, Michigan, New Jersey, and Oregon.Potential for Robust Growth Across the Value Chain: The combined Company will have wide-ranging products and services needed to provide its customers with total, fully integrated solutions that span pre-to-post extraction and testing.Experienced Industry Leaders: The united management team has combined several decades of proven growth strategy execution to establish one of the most experienced teams in the extraction equipment and services industry, creating the preeminent cannabis and hemp extraction company with global reach.Management Commentary"This is a major milestone in the cannabis extraction equipment and…

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Source : Precision Extraction Solutions and Cascade Sciences Sign Definitive Merger Agreement to Form Sinclair Scientific

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