OrganiGram Holdings Inc. sold Trauma Healing Centers Inc. to Harvest Medicine Inc., a wholly owned unit of VIVO Cannabis Inc.
Dartmouth, Nova Scotia-based Trauma Healing Centers is a resource center that provides medical cannabis care and education to patients through a multidisciplinary clinic network. The company was acquired by Organigram in June 2017.
VIVO Cannabis issued common shares worth C$1.2 million in exchange for all of Trauma Healing Centers' issued and outstanding shares.
The transaction is part of Organigram's strategy to focus on the production of cannabis. Meanwhile, the acquisition expands Harvest Medicine's operations in Nova Scotia, New Brunswick and Ontario.
Moncton, New Brunswick-based Organigram Holdings, through its Organigram Inc. unit, produces cannabis and cannabis-derived products.