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Canex Energy buying 2 cannabis assets

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Canex Energy buying 2 cannabis assets

Canex Energy Corp. said Jan. 8 that it agreed to acquire cannabis firm Choom Holdings Inc.'s subsidiaries Island Green Cure Ltd. and Medi-Can Health Solutions Inc.

Consideration comprises cash payment of C$100,000 and issuance of 9.8% of Canex shares on closing.

In addition, Canex said it revised a previously announced private placement and now intends to sell between 5 million and 10 million units at 10 cents apiece for gross proceeds of between C$500,000 and C$1 million.

Proceeds will be used for general corporate purposes and to identify and pursue business opportunities.