MMJ Group Holdings Ltd has given its tacit agreement to an offer from BevCanna Enterprises Inc to acquire its investee Embark Health. Embark Health is a Canada-based cannabis extraction business that has been making solid strategic business progress throughout 2021 as it eyes off a public listing, while BevCanna is a health & wellness beverage and natural products business listed on the Canadian Stock Exchange. MMJ’s investment in Embark consists of shares and the current value stands at approximately C$2.4 million. MMJ expects that its share of the deal would approximate the current book value of its investment. Under the terms of the offer, BevCanna would acquire all 46.7 million Embark shares for a purchase price of around C$21 million.MMJ has been advised that it would be issued its owed BevCanna shares following the completion of BevCanna and Embark’s deal, by the end of 2021.

Mmp News Author, Medical Marijuana Program Connection, 09/21/2021 03:52:00

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