A cannabis operator with assets in the international cannabis market confirmed the sale of its South American and Caribbean interests to a major Canadian licensed producer. In a deal announced on Tuesday, Scythian Biosciences will sell its entire network of cannabis businesses across Argentina, Colombia, and Jamaica to Aphria through the share acquisition of LATAM Holdings for a reported C$193 million worth in Aphria’s stock issued to Scythian. “This timely strategic move allows Aphria to leverage Scythian’s first mover progress in the region while expanding on their own global reach and scope,” Scythian CEO Rob Reid said. “We have spent a considerable amount of time and resources evaluating opportunities in Latin America and the Caribbean and we are confident in the long-term strategic opportunity and the value it will bring to our shareholders,” Vic Neufeld, CEO of Aphria said in a statement.

Hemp Land, Cannabis Hemp Blog, 03/31/2021 02:04:00

Open article: https://hempland.net/scythian-sells-assets-in-latin-america-to-aphria/