CAN (ON): Reverse takeover to help grower expand facilities

Another player with aggressive expansion plans in the Canadian MMJ industry. Recently ONErgy announced its intentions to purchase GaiaCann Inc. Last month they signed a letter of intent to do so.

Completion of the Transaction would result in a reverse takeover and change of business of the Company under the policies of the
TSX Venture Exchange. 

GaiaCann Inc. is a full spectrum, discovery-focused medical Cannabis Company. GaiaCann was formed in 2018 and is a private corporation existing under the laws of Ontario. In the spring of 2019, GaiaCann received its review confirmation from Health Canada for two of its standard cultivation, processing and sales licenses under the Cannabis Regulations.

With construction underway, GaiaCann expects its flagship cultivation, extraction and research facility to be fully licensed by March 2020 and expects development of its second site to be complete in late 2020.

Upon completion, GaiaCann’s 32,000 square foot flagship facility, named “The Innovation Project”, will boast five different extraction methods, three-phase power and expansion capabilities.

"The driving force behind our passion in the industry is leading drug discoveries, as well as product and process development that will educate and advance the medical cannabis industry worldwide", the company says.

GaiaCann is in the process of obtaining specialized licensing from Health Canada in research and development as well as Analytical Testing. The main cultivation and extraction sites will be located in Espanola, Ontario. 

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