MPX International Corp. closed its acquisition of Swiss organic cannabis company HolyWorld SA for CHF10 million.
HolyWorld develops Swiss-grown organic cannabis light/high CBD prerolls, dry flowers, sublingual oils and cosmetics.
The Canadian cannabis company issued 25,252,830 common shares priced at 53 Canadian cents each to HolyWorld shareholders.
In connection with the acquisition, MPX will develop a facility of good manufacturing practices grade to produce CBD extracts and isolates for both HolyWeed and export. MPX will also use the facility to develop CBD products and collaborate with local partners.
MPX said the deal is part of its expansion strategy.
Toronto-based MPX International is a cannabis company focused on the medical and adult-use cannabis markets.