StillCanna, which primarily based in Vancouver, British Columbia and traded on the Canadian Securities Exchange, paid $two,000,000 in money and pledged Olimax owner-operators Zofia Valber and Krystyna Bojeck 24,000,000 typical shares for 100% of the vertically integrated Kielce, Poland-primarily based firm. StillCanna shares have been trading about $1.25 more than the final six months.
“This acquisition uniquely positions StillCanna in the provide chain of wholesale CBD in Europe,” mentioned Jason Dussault, CEO at StillCanna. “There is worldwide interest in sourcing a trustworthy flow of wholesale CBD in Europe.”
Polish hemp veterans
Olimax provides StillCanna a European-primarily based licensed cultivator, extractor and formulator of CBD. Valber and Bojeck have 40 years combined practical experience in hemp merchandise, and have created a patented microelement fertilizer as effectively as a proprietary, EU-certified higher- CBD hemp wide variety. They will continue to oversee day-to-day management of Polish operations which this year will be primarily based on 1,500 hectares of hemp fields.
Plans contact for expansion of expanding fields as effectively as Olimax’s CBD extraction capacity.
The deal is the second in the final 12 months in which big Canadian cannabis firms have purchased Polish businesses right after The Green Organic Gardener purchased CannabiGold brand parent HemPoland final August.