The Torkin Manes Cannabis Law Group is pleased to be acting for WeedMD in connection with strategic combination with Starseed Holdings Inc.

The Torkin Manes Cannabis Law Group is pleased to be acting for WeedMD in connection with strategic combination with Starseed Holdings Inc.

WeedMD Inc., a federally-licensed producer and distributor of medical-grade cannabis, has announced that it has entered into a definitive agreement dated November 29, 2019 to acquire Starseed Holdings Inc., a medically-focused, federally-licensed cannabis company providing cannabis to insured patients with coverage under their benefit plans. The arms-length all-share Acquisition is valued at approximately $78 million, and Starseed’s strategic investor, the Labourers’ Pension Fund of Central and Eastern Canada, will make a concurrent $25 million equity investment directly into WeedMD. The Transaction bolsters the Company’s leadership position in the medical cannabis market through Starseed’s exclusive distribution and patient channels, provides important growth capital and fortifies WeedMD’s balance sheet.

Read the full press release here.