Canadian LP MTL Cannabis to Go Public by Merging with Canada House

CANNANNEW REPORT

MTL Cannabis to Acquire Control of Canada House The privately held company enters into definitive share exchange agreement to facilitateRTO of Canada House Wellness Group The acquisition combines proven high quality dried flower sales and industry-leading yields with immediate facility expansion, increased capacity, enhanced product development, key sales licences, existing provincial supply deals, and direct distribution to medical patients focused on Veterans. MONTRÉAL, Aug. 9, 2021 /CNW/ – Montréal Cannabis Médical Inc. (“MTL Cannabis”), a Montréal-based “flower-first” Licensed Producer, and Canada House Wellness Group (CSE: CHV) (“Canada House” or the “Company”), a fully integrated cannabis company, today announced that they have entered into a definitive share exchange agreement dated August 9, 2021 (the “Agreement”) for Canada House’s acquisition of all of the issued and outstanding shares of MTL Cannabis (“MTL” or “MTL Cannabis”) (the “Transaction”). The Transaction is between arm’s length parties and constitutes a “reverse takeover” of the Company, and it is anticipated that the Company will operate under the MTL Cannabis corporate name with shares trading on the CSE under a related ticker symbol following the closing of the Transaction (the “Closing”). Prompted by the demonstrated and continued success of MTL’s top-selling Sage n’ Sour cultivar, this deal gives Mitch and Rich Clement, brothers and founders of flower-first MTL Cannabis, the opportunity to accelerate their Québec cultivation footprint while accessing the resources needed to meet the surging market demand for dried flower, the largest segment of the cannabis market. The Clement’s bring decades of cannabis expertise and top-quality genetics to the legal market, along with a strong understanding of scaling consistent product. The deal also provides the group with the ability to build upon MTL’s current brand portfolio, and develop a diverse flower menu bringing premium, accessible products to cannabis consumers while maintaining existing supply agreements. Since its recreational…

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Source : Canadian LP MTL Cannabis to Go Public by Merging with Canada House

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