Cannim Group has completed its merger with Medisun, one of Canada’s leading large-scale privately owned cultivators, and local patients are set to benefit. As a result of the agreement, Cannim will launch a Canadian flower product – a 25% THC Legendary Larry strain – as part of its Lumir range in the Australian market.
According to Cannim Chair, John Worton the new offering was just the beginning for the merged business. “Medisun are a top producer in Canada, recognised for their quality and distributed in this
key legal-use market.”
“Through our partnership, Cannim will offer those products for the benefit of patients here in Australia and Europe through our global sales network, while at the same time opening up distribution channels for our own products in the US and Canada.”
Cannim Chief Commercial Office Stuart Marsh said that the merger recognized the importance of partnerships in a rapidly evolving sector, and that commercial interest in the business – one of a handful of truly global cannabis companies – had increased dramatically
since the deal was announced.
“We’re experiencing an entourage effect, with other companies wanting to come on board and partner with the combined business.
“We’ve already signed a number of contracts to import Canadian flower into Europe, and we’re excited by the further potential to cross-sell our respective products into our newly expanded distribution channels.”
The merger came into effect on Tuesday 22 February (Canadian time), with the new leadership team meeting at the Medisun facility in Ontario to mark the occasion. Under the arrangement, Cannim will acquire more than 70% of all issued and outstanding shares of Medisun. The merged business will be headquartered in Sydney, while Medisun will continue to operate its business under its own brand name from Chatham, Ontario
For more information:
Cannim
www.cannim.com
Medisun
medisun.ca
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