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KDA Group to acquire Canadian medical marijuana supplier

KDA Group Inc. agreed to acquire 51% of CanNorth Medic Inc., a Canadian medical marijuana supplier.

Canada-based KDA, a generic drug distributor, did not disclose financial details of the deal.

"This majority shareholder position will allow us to offer patients innovative cannabis-based medical products," said Marc Lemieux, president and CEO of KDA Group.

The agreement is subject to approvals, including from the TSX Venture Exchange.