Icanic Brands to Acquire Cannabis Cultivator DNA Organics in Deal Valued at USD 5m.
MANews-(C)2009-2022
Canadian cannabis branded products manufacturer Icanic Brands company, Inc has signed a non-binding Letter of Interest (LOI) to acquire California cannabis cultivator and manufacturer DNA Organics, Inc. (Lifted Organics) for a total consideration of USD 5m, the company said.
Under the terms of the LOI, the purchase price will be comprised of the closing purchase price and the earn-out payments. The Closing Purchase Price will be satisfied in full through the issuance of common shares of the Company. The Earn-Out Payments will be satisfied in full through the issuance of Icanic Shares.
Lifted is a vertically integrated California cannabis company specialising in cultivation and solventless manufacturing using sustainable, organic...
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