Hygrovest Ltd. (MMJJF)

[Marillionaire]

MMJ Phytotech’s Canadian cannabis arm has bought a business called Dream Water from Dixe Elixers which it plans to turn into a marijuana water line.

Dream Water now sells a “liquid sleep shot” and “sleep powder” marketed as “a proprietary blend of sleep ingredients widely known to promote effective sleep, among many other benefits”.

MJ’s Harvest One Cannabis subsidiary plans to introduce cannabidiol (CBD) or hemp product lines for sale in countries where hemp is legal but cannabis is more heavily regulated.

CBD is one of the active ingredients found in cannabis. It has well-researched medicinal benefits — but unlike another cannabinoid, tetrahydrocannabinol (THC), it doesn’t get you high.

The deal is worth $C34.5 million: $US12.5 million in cash and $C18.5 million in shares worth $C1 each.