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Montreal-based MTL Cannabis announced this week that it will be going public through a reverse takeover of Canada House Wellness Group (CSE:CHV) (OTC:SARSF).
The “flower-first” licensed producer has entered into a definitive share exchange agreement where Canada House will operate under the MTL Cannabis corporate name. Shares will trade on the CSE under a related ticker symbol following the closing of the transaction.
“This deal allows all parties to stay committed to excellent cannabis while strengthening operations and expanding distribution and sales of MTL Cannabis’ extremely popular dried flower,” Chris Churchill-Smith, CEO of Canada House Wellness Group Inc., told Benzinga.
The family-run LP is producing craft quality cannabis at scale, which is selling out in every province and not contributing to the well-publicized cannabis glut that the country is currently facing.
The deal allows MTL to scale its production and to continue to bring craft cannabis flower to the masses while focusing on CSR and ESG offerings that are inclusive and prioritize the Veteran and civilian patient populations.
“Not only does this transaction allow MTL Cannabis to gain what it needs to produce enough flower to satisfy demand, it helps us bring exceptional cannabis to Canada’s Veteran population which is often excluded from patient conversations. MTL Cannabis' "flower-first" approach aligns with Veterans' needs, and I feel confident in our ability to continue to serve this community with compassion and quality—a fundamental principle of Canada House since its inception,” Churchill-Smith added.
“The coming-together of established distribution channels that support access for all patients, and MTL Cannabis’ outstanding product and proven cultivation practices means all parties can remain committed to the craft as we open ourselves up to even more commercial opportunities in Canada.”
Más contenido sobre cannabis en Español en El Planteo.
