Canapar Corp. (“Canapar”) today announced a definitive agreement with RAMM Pharma Corp. (including its wholly-owned subsidiaries, “RAMM”) for RAMM to acquire all the remaining common shares of Canapar. In exchange, Canapar will receive approximately 21 million common shares in RAMM for a total purchase price of approximately CA$26.2 million. Under the agreement, Canapar shareholders will receive approximately 0.54 RAMM shares for each share held in Canapar. This transaction follows RAMM’s acquisition of 49% of common shares in Canapar in December 2020. “We expect that deepening our partnership with RAMM further builds Canapar’s capacity to grow its market share in the European and global cannabis markets,” said Sergio Martines, CEO, Canapar.
Sean Hocking, Cannabis Law Report, 05/28/2021 01:44:00