| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
CBD of Denver, Inc. (OTC:CBDD) has closed the acquisition of HOLISTICH GmbH, a Swiss-based company with a location in Vienna, Austria with a focus on cannabis tissue cultures offering cannabis production facilities high-quality cannabis clones.
HOLISTICH has an existing wholesale distribution and clone business that will immediately add revenues to Luxora.
In August, CBDD announced the acquisition of LUXORA Holding AG, which imports and distributes North American CBD flower throughout Europe. CBDD has created a new subsidiary, LUXOA LLC, to combine its wholesale CBD flower business with LUXORA Holding AG's.
This is an important step forward for the whole group as this acquisition represents an opportunity to access the European market, the Denver, Colorado-based company said on Friday.
Being a player in the wholesale business in the DACH region of Germany, Austria, and Switzerland, HOLISTICH can ship products throughout the European Union, LUXORA CEO Jan Schwager said.
"Additionally, the company has established good relationships in the area of cannabis clones' business, which can be developed when the German and other European Markets are further opened," Schwager added.
HolistiCH currently has a partnered portfolio of over 240 cannabis strains and, with the efforts of Luxora, will be adding 30 new exclusive strains to its portfolio.
Moreover, the news comes on the heels of Germany's cabinet approving marijuana legalization in August, sending it to the legislature for consideration. The draft legislation backed by Chancellor Olaf Scholz would legalize recreational cannabis use and personal cultivation of up to three plants, allowing adults to possess as much as 25 grams of weed, and would also enable buying weed at marijuana clubs.
"HOLISTICH will be able to provide seeds and clones to our cannabis club clients with exclusive strains which the company believes will separate Luxora from the other competitors," Schwager added.
The company will be integrated into the LUXORA Group in the coming weeks, with Schwager taking over the role of the managing director for the Swiss Office and the Vienna branch for the time being.
To learn more about the latest cannabis developments globally and nationwide, join us at the Benzinga event, which returns this month to Chicago.
CBD of Denver's shares traded 7.1429% lower at $0.0007 per share at the market close on Thursday.
The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
Photo: Courtesy of geralt, lindsayfox Pixabay
Posted In: CBDD
