Cannabis investment firm to acquire stake in marijuana testing company
Ottawa-based cannabis investment firm CannaRoyalty Corp. says it’s acquiring a 20 per cent stake in Anandia Laboratories Inc., a company that specializes in marijuana testing, in a deal valued at $4 million.
There are currently seven licensed cannabis producers in Canada who are working with the Vancouver-based cannabis biotechnology company to test their products.
A report released last month by the federally appointed task force on marijuana highlighted the importance of testing cannabis products to ensure they’re safe for consumption.
In addition to testing, Anandia Labs also develops cannabis strains for medical use.
The deal, which will be funded through a combination of cash, equipment and services and common shares, is expected to close by Jan. 31, subject to approvals.
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