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Supreme Cannabis closes Truverra acquisition

Toronto-based cannabis producer Supreme Cannabis Co. Inc. completed its acquisition of private cannabis company Truverra Inc.

Under the deal announced in July, Supreme Cannabis' 2708300 Ontario Ltd. subsidiary merged with cannabis producer Truverra to form a new company.

The new company will become a subsidiary of Supreme Cannabis and will operate under the name Truverra Inc.

Supreme Cannabis issued 14.7 million shares in exchange for Truverra's 5,000-square-foot licensed facility in Scarborough, Ontario, and its unit in the Netherlands that sells cannabis products to the European market, as part of the agreement.