VANCOUVER: BevCanna Enterprises Inc. has executed a Definitive Agreement with Naturo Group Investments Inc. to purchase all of the issued and outstanding securities of Naturo.
The Agreement provides for the issue of 50 million common shares of Bevcanna to acquire all outstanding shares of Naturo.
Upon completion of the Transaction, Naturo will become a wholly-owned subsidiary of the BevCanna and the Company will carry on the combined business of BevCanna and Naturo.
“The joining together of these two companies will be an unbeatable combination,” said Marcello Leone, Founder of Naturo and CEO of BevCanna.
“BevCanna is evolving into a comprehensive health and wellness company, and this combination acceralerates that evolution. We’ll now offer one of the most unique and diverse portfolios of beverage and wellness products within both the cannabis and the fulvic and humic mineral plant-based categories. The merger creates significant value to both organizations and brings togther two exceptionally experienced teams, forming one of the most innovative beverage and natural health products companies in our industry.”
The combination will create the only fully licensed, in-house and white-label beverage manufacturing company that distributes both conventional and cannabis-based beverage and wellness products.
The newly formed company will now have access to global, multi-channel distribution networks of traditional and cannabis sales channels.
BevCanna will take ownership of Naturo’s 40,000 sq. ft. high-capacity beverage facility, 315-acres of outdoor cultivatable land valued at $10.4M, beverage manufacturing equipment valued at $3.4M (as of year end), and a proprietary Health Canada approved fulvic and humic plant-based mineral formulation.
BevCanna will also take possession of one of Naturo’s most valuable assets, their exclusive onsite alkaline spring water source, independently valued at $18M.
As water resources become increasingly more scarce, BevCanna expects that the proprietary resource will contribute to a strengthened balance sheet and to BevCanna’s unique positioning within the exploding plant-based and cannabis sectors.
BevCanna will also own the Naturo flagship brand, TRACE, which currently enjoys a leadership position within the Canadian plant-based fulvic and humic mineral category and is sold in more than 3,000 Canadian retailers, with select international agreements and partnerships under review.
Along with their nationally distributed alkaline and sparkling waters, TRACE is expanding its product selection to nutraceuticals and is incorporating additional nutraeceuticals and herbal remedies, including cannabinoids, adaptogens, and nootropics, into its products to be sold in domestic and international markets.
As per Naturo’s latest independent estimate pricing report (February 2020), Naturo’s enterprise value is between C$38M-C$42M.
Naturo Group develops and manufactures 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.
Naturo owns and operates nationally distributed house brands across Canada which are currently sold in more than 3000 Canadian retailers, including 7/11, Loblaws, London Drugs, Metro and Farm Boy, as well as online direct-to-consumers, via Amazon; and is expanding into the U.S. market in 2021.
Based in British Columbia, Canada, Naturo Group owns a pristine alkaline spring water aquifer, a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum.
BevCanna Enterprises Inc. (CSE:BEV, OTCQB:BVNNF, FSE:7BC) 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 owns the exclusive rights to a pristine spring water aquifer, access to a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum. BevCanna also recently acquired US natural health and wellness e-commerce platform Pure Therapy. BevCanna’s vision is to be a global leader in infused innovations.
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