Tweed Marijuana Inc. of
Smiths Falls is buying MedCannAccess which has clients in three Ontario
communities.
it is also buying the
company’s research operations in the MaRS Centre in Toronto. That lab is
researching marijuana extracts for precise, standardized doses of medicinal
cannabis.
The company's lead product
in development is a mist that can be sprayed into the mouth.
Shareholders of
MedCannAccess, which is not traded on any public stock market, will receive
$1.5 million in Tweed shares upon closing, plus another $4.24 million in Tweed
shares provided that certain milestones — including international expansion
goals — are met.
Tweed bought Bedrocan
Cannabis Corp. in June, prompting Tweed
to declare it’s the largest marijuana producer in Canada.
