VANCOUVER: Stillcanna Inc. signed a comprehensive Letter of Intent (LOI) to acquire Sativa Group PLC, one of the United Kingdom’s  first medical Cannabis companies.

The proposed transaction, which is arm’s-length, will constitute a “Fundamental Change” of Stillcanna under the policies of the Canadian Securities Exchange (“CSE”).

The combined assets and licenses of Stillcanna and Sativa create a company whose overall cannabis opportunities in Europe should be unrivalled. Stillcanna’s commitment to Novel Food licensing, and GMP licensing will assure the entities products will be available in markets beyond the February 2021 Novel Food deadline.

With extraction and cultivation of all cannabinoids, from wellness to medical research combined with established brands, existing wholesale and retail sales channels, backed by a state-of-the-art laboratory, the new corporate entity will blanket opportunities within the new wellness space.

“We have vetted multiple opportunities in searching for a brand that could complete the seed to consumer model for Stillcanna,” stated Jason Dussault CEO of Stillcanna.

“We believe that only companies that can control their supply chain, while complying with the upcoming legal framework outlined by the European Union, will succeed in the future Cannabis marketplace. Through this acquisition both Sativa and Stillcanna will benefit through a wider set of market opportunities and compliance. Our extraction capabilities to supply CBD as an active ingredient for Sativa’s medical and wellness products, creates a vertically integrated Company unlike any other in Europe. We look forward to monetizing and capitalizing on the resulting market opportunities that this acquisition avails.”

“Rarely do you find two companies whose industry strengths compliment each other resulting in such a synergistic entity,” stated Henry Lee-Buckley CEO of Sativa Group.

“The combination of our core competencies will result in a diverse Company that addresses the majority of sectors within the Cannabis space. I feel this transaction secures both Companies involvement and success in the Cannabis space.”

The Sativa Group is comprised of 5 corporations, including:

GoodBody Botanicals (GBB) “CBD you can Trust” offers a wide range of CBD products including gels, balms, capsules, tinctures and more for the wellness market;

GoodBody Wellness is focused on the health & beauty markets, the brand is sold to high end retail health and beauty stores;

PhytoVista Laboratories (PVL) is Sativa Group’s independent analytical hemp and CBD testing facility. PVL provides support to retailers, distributors and manufacturers by expertly testing the cannabinoid levels of the hemp and CBD products.

Sativa Cultivation and Extraction Ltd. that holds a Controlled Drug License for the cultivation, production and possession of high THC content cannabis in the UK with an emphasis on medical research.

Tessellate Collective Ltd. is Sativa’s direct sales channel, model popularized globally in the cosmetics and wellness sectors. Tessellate has over 500 well established direct sellers acting as advocates for the brand and who have access to an easy-to-use and financially rewarding commission plan.