Panacea Life Sciences To Acquire Natural Health And Wellness Chain Of Retail Locations In Tampa, Florida
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Panacea Life Sciences Holdings, Inc. (OTCQB:PLSH) is set to acquire eight retail locations in Tampa, Florida, which offer Kava, Kratom, VAPE and CBD products. The acquisition, which includes inventory, equipment, recipes, distribution facilities and a warehouse, generated $2.9 million of annual revenues for the fiscal year ended December 31, 2022. The purchase will be made through the issuance of approximately 85,000 shares of a new class of convertible preferred stock, convertible into approximately 8.5 million shares of common stock.
July 10, 2023 | 2:00 pm
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Panacea Life Sciences is expanding its footprint in the natural plant-based market segment through the acquisition of eight retail locations in Tampa, Florida. This could potentially increase the company's revenues and market presence.
The acquisition of these retail locations will allow Panacea Life Sciences to expand its market presence and potentially increase its revenues. The company's stock price may increase in the short term due to the potential for increased revenues and market expansion.
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