Vancouver, British Columbia-based Friday Night Inc. is acquiring Spire Secure Logistics Inc., a privately held strategic security consulting company.
Spire Secure specializes in security, intelligence and compliance with international clients for the regulated cannabis industry as well as other sectors.
Friday Night agreed to acquire 100% of Spire by the issuance of 7,142,857 common shares at 70 Canadian cents apiece. It will also allocate working capital of C$1 million to expand Spire's client base in Canada and globally.
The transaction is expected to close March 1. Following the deal completion, Spire CEO Andy Richards will join Friday Night's board.
Friday Night said it aims to diversify income stream and achieve international market exposure through the acquisition.