fbpx
QQQ
+ 1.33
293.14
+ 0.45%
DIA
-1.15
301.55
-0.38%
SPY
-0.72
363.86
-0.2%
TLT
+ 0.20
158.97
+ 0.13%
GLD
+ 0.60
168.99
+ 0.35%

Real Brands Closes Merger With Canadian American Standard Hemp

October 27, 2020 12:39 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Real Brands Inc. (OTCPK: RLBD) confirmed Tuesday, it has finalized the acquisition of Canadian American Standard Hemp Inc.

Under the reverse merger deal, CASH shareholders obtained majority control of Real Brands.

CASH agreed to continue to operate as Real Brands’ wholly-owned subsidiary. In addition, Real Brands would maintain the name and trading symbol.

The entity’s new headquarters will be located at 12 Humbert St., in North Providence, Rhode Island.

The strategic merger joins hemp-derived CBD extraction, wholesale CBD oils/isolates, CBD product formulations, and consumer brands into the new publicly traded entity, as per press release.

In addition, Real Brands tapped Thom Kidrin to helm the company, replacing former Real Brands CEO Jerry Pearring.

“This strategic merger with Real Brands is designed to drive increased shareholder value and provide the public with an opportunity to participate in the growing global hemp-derived CBD market,” Kidrin stated. “With access to the capital markets now, we anticipate it will be easier and faster to fund our next phases of expected growth.”

Meantime, over the last few months, some merger deals in the industry were canceled, including Aphria’s (TSE: APHA) (NASDAQ:APHA) and Aurora Cannabis’ (TSE: ACB) (NYSE:ACB) talks to merge.

The $3.5 billion deal was suspended in July after two parties disagreed on board composition, as Bloomberg News reported.

Posted-In:

Cannabis M&A News Markets

Related Articles

Jay-Z Inks Largest Cannabis SPAC Deal Ever With Subversive Capital, Roc Nation, Caliva, Left Coast Ventures

Music industry mogul Jay-Z is set to join a newly formed cannabis company that's expected to become the largest in California. read more

Cannabis Stock Gainers And Losers From November 24, 2020

GAINERS: Cann Gr (PINK: CNGGF) shares closed up 44.86% at $0.37 read more

Her Highness Enters Nevada Market Via Body And Mind Partnership

Women-centric cannabis brand Her Highness is expanding into Nevada through a production licensing partnership with MSO Body and Mind Inc. (CSE: BAMM). Her Highness products are now available across Nevada dispensaries. read more

AgraFlora Secures Agriculture Loan To Support Phase 1 Cultivation Strategy

AgraFlora Organics International Inc. (CSE: AGRA) (PINK: AGFAF) said its joint venture venture with the Houwelings Group — Propagation Services Can read more

Auxly Secures $12M In Financing

Auxly Cannabis Group Inc. (TSXV: XLY) (OTCQX: CBWTF) has secured $12 million in financing. read more