The suits have descended on Lesotho to start putting a value on Bophelo Bioscience and Wellness, which aspires to be the world’s biggest cannabis grow. Bophelo is being spun off by Canadian parent Halo Collective into a new, non-US, international entity, Akanda.
In a statement on 30 July 2021, Akanda said it had appointed Canadian investment banking firm Bousted Securities as “exclusive financial advisor to explore financing and acquisition opportunities as it seeks to scale the African cultivation assets it is proposing to acquire from Halo Collective Inc”. Boustead advises clients on capital raises, mergers and acquisitions, and restructuring assignments in a wide array of industries and circumstances, including in the cannabis sector.
Bousted wasted no time in getting on the job, almost immediately sending its major suit, Head of Equity Capital Markets, Dan McClory, to Lesotho to suss out the value of Bophelo’s operations in the Mafeteng Specal Economic Zone.
“We are excited to assist Akanda with its ultimate goal of becoming a world-class international medical cannabis company,” said McClory. “After visiting the African base last week, we believe the company’s seasoned leadership team, low-cost and high-quality operations in Lesotho, and commitment to social welfare have the potential to make it a unique and valuable asset in the emerging global medical cannabis economy.
Read more at cannabiz-africa.com