trending Market Intelligence /marketintelligence/en/news-insights/trending/k39v-ivyop0_z0bwtdryjw2 content esgSubNav
In This List

Maricann completes acquisition of Swiss marijuana producer

Blog

Commercial Banking: June 22nd Edition

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: Path to net-zero; US manufacturing momentum; China's lithium M&A frenzy

Blog

Commercial Banking Newsletter June Edition - 2022


Maricann completes acquisition of Swiss marijuana producer

Maricann Group Inc. completed the acquisition of all outstanding shares of Haxxon AG, a Switzerland-based marijuana producer.

Langton, Ontario-based medical cannabis producer said the acquisition "forms a critical element" of its European expansion strategy and will help it to enter the Swiss market through Haxxon's production of feminized high cannabidiol cannabis plants.

Maricann paid CHF 2 million cash and will issue 3,848,505 common shares to Haxxon within 10 days of closing.

The company will issue up to an additional 132,707 common shares two years after closing of the transaction, provided certain representations and warranties of the seller remain in good standing.