Happiness Development Enters Cannabis Space By Taking 10% Stake In Kannaba Agritech

by Shivani Kumaresan, Benzinga Staff Writer

March 9, 2022 10:05 AM | 1 min read |

Happiness Development Group Ltd HAPP has entered a non-binding letter of intent to invest $6 million in the Vancouver-based Cannabis company Kannaba Agritech Corp.
Happiness Development will get 10% equity interests in the Cannabis company, marking its entry into the cannabis industry.
Also Read: Happiness Development Agrees To Acquire Healthcare Product Distributor Hekangyuan For ~$12M.
According to a report by Prohibition Partners, the global legal cannabis market size is expected to reach $102 billion by 2026.
"We have been searching for additional products that can make use of our technology in other various industries. After our diligent search and study, we believe cannabis is a very suitable choice," said CEO Xuezhu Wang.
Price Action: HAPP shares are trading lower by 1.48% at $0.36 on the last check Wednesday.