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Weekend Unlimited closes purchase of Canna Candys, Canna Medibles

Weekend Unlimited Inc. closed its acquisition of California-based cannabis brands Canna Candys and Canna Medibles.

Vancouver, British Columbia-based Weekend purchased the remaining 20% of the brands that it did not previously own for US$360,000 in cash and 5,106,383 shares issued at a deemed price of 9.4 cents.

Canna Candys, which has about 35% of the hard candy market share in Southern California, will begin operations at its new licensed manufacturing facility in California in the first quarter.

In addition to Canna Candys, Weekend Unlimited will be a 5% equity partner of High Desert Group Inc., an Adelanto, Calif.-based oil extractor of tetrahydrocannabinol, a chemical identified in cannabis.