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Sira Naturals Acquired By Canadian Cannabis Company

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JohnCM Member Level  Wednesday, 10/24/18 12:29:09 AM
Re: SmokeABull post# 8
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Sira Naturals Acquired By Canadian Cannabis Company

The Milford-based marijuana facility was the first in the state to get a recreational license.

By Charlene Arsenault, Patch Staff
Oct 21, 2018

MILFORD, MA—A Toronto-based cannabis acquisition firm has purchased Milford-based Sira Naturals and four other U.S. companies.

The Canadian Cannabis Strategies Acquisition Corp. is toking up Sira and companies in Nevada and Colorado to create an "anchor portfolio," reports the Worcester Business Journal.

The company is dishing out $76 million for the five companies.
In total, CSAC is paying $76 million in U.S. money to acquire the five firms and is issuing about 7.6 million Class B shares and $43.7 million in promissory notes.

In June, Sira Naturals was named the first business in Massachusetts to be awarded a license to grow adult-use cannabis in the state, according to multiple reports. The Massachusetts Cannabis Control Commission met with Sira Naturals in a public hearing to address an application for its cultivation facility in Milford. The company grows medical marijuana at the facility already that it sends to dispensaries in Cambridge, Needham and Somerville, and were granted the OK to cultivate product for recreational facilities.

And a month later, the company was also given the approval from the Massachusetts Cannabis Control Commission to manufacture marijuana-infused products and to transport marijuana.

CSAC called Sira Naturals a "best-in-class operator" in Massachusetts.



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