Medical cannabis companies from Canada and Britain are joining forces to create a global, vertically integrated business to tap opportunities in Europe and beyond.
Nova Scotia medical cannabis cultivator and processor Aqualitas has signed a definitive agreement to merge with Cannaray Limited, a European medical marijuana company headquartered in London.
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The merged company will be based in London and led by Cannaray CEO M. Scott Maguire, a spokesperson told MJBizDaily via email.
The name of the combined company will be announced shortly.
In 2023, the combined revenue of Aqualitas and Cannaray amounted to approximately $51 million (69 million Canadian dollars), according to the news release announcing the merger.
In a phone interview with MJBizDaily, Aqualitas CEO and founder Myrna Gillis said the merger
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