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Cannabis company Weekend Unlimited merges with healthcare technology company

Canadian cannabis company Weekend Unlimited Inc. completed a merger with healthcare technology company Open Source Health Inc.

The resulting entity will continue to operate under the Weekend Unlimited and has divested Open Source's assets in the online health space.

Weekend Unlimited also said its shares began trading on the Canadian Securities Exchange under the symbol YOLO on Oct. 15.

Before going public, the company bolstered its existing portfolio with acquisitions of Washington State-based cannabis cultivator Orchard Heights Growers and British Columbia-based hemp and cannabis farmers Northern Lights Organics and Jerome Baker Designs.

Weekend Unlimited also plans to acquire an existing cultivation and productions facility in Jamaica, a Californian beverage company and another Californian multi-state THC and CBD-infused candy company.

Separately, Weekend Unlimited closed a nonbrokered private placement of 27,045,770 units at 20 Canadian cents, raising about C$5.4 million.

Each unit was made up of a common share and a warrant, which allows the holder to buy an additional stock of the company at 25 Canadian cents each.

Weekend Unlimited plans to use the proceeds from the private placement for working capital and further acquisitions.