Shoppers Drug Mart Signs Definitive Cannabis Asset Sale Agreement With Avicanna
Portfolio Pulse from Javier Hasse
Avicanna Inc. (AVCNF) has signed a definitive Asset Purchase Agreement with Shoppers Drug Mart to acquire assets of Shoppers' medical cannabis business for approximately $2.6 million. The deal is set to finalize on July 31, 2023, and Avicanna will launch its new platform, MyMedi.ca, by the closing date.
May 29, 2023 | 3:07 pm
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Avicanna's acquisition of Shoppers Drug Mart's medical cannabis business assets for $2.6 million could expand its reach and solidify its standing in the biopharmaceutical field.
The acquisition of Shoppers Drug Mart's medical cannabis business assets will allow Avicanna to expand its capabilities in the medical cannabis sector. This could lead to increased revenues and a stronger position in the biopharmaceutical field, potentially having a positive impact on its stock price in the short term.
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