Aphria, CannTrust, Zenabis, VIVO agree to purchase META shares
National Access Cannabis (TSXV: META) is engaged in delivering secure, safe, and responsible access to legal cannabis in Canada. Through a Canada-wide network of medical cannabis clinics, partner pharmacies, and other companies including recreational dispensaries, META enables patients and the public to gain knowledge and access to Canada’s network of authorized Licensed Producers of cannabis. Canadian Licensed Producers Aphria (NYSE: APHA), CannTrust (TSE: TRST) and Zenabis have agreed to purchase an aggregate amount of up to $45 million and VIVO Cannabis (TSXV: VIVO) an aggregate amount of up to $10 million of common shares in META in two tranches.
This transaction indicates the importance of establishing sales and distribution in Canada. We expect this to be an important opportunity in Canada in the next few years.