VANCOUVER: Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc., has entered into a definitive share exchange agreement with Exceler Holdings Ltd, an arm’s length private British Columbia corporation.
The agreement with Exceler will provide BevCanna with access to Exceler’s significant number of distribution points across Europe and Asia as BevCanna launches its CBD beverage products in the European Union market. BevCanna will leverage their existing joint venture with European distributor Mota Ventures, announced on Feburary 16, 2020, to execute on the Exceler agreement.
“On closing, the ability to sell through Exceler’s extensive distribution network is intended to quickly accelerate our expansion into the EU market,” said John Campbell, Chief Strategy Officer at BevCanna.
“We anticipate that the BevCanna lines of CBD beverages will soon be available to consumers across the continent.”
Closing of the definitive agreement is subject to standard closing conditions in addition to Exceler having positive working capital and no long‐term debt. No finder’s fees are payable in connection with the proposed acquisition.
None of the securities to be issued in connection with the acquisition will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
BevCanna Enterprises Inc. develops and manufactures cannabinoid‐infused beverages and consumer products for in‐house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category.
Based in British Columbia, Canada, BevCanna has a 292‐acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world‐class 40,000‐square‐foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum.