MedCana Highlights Recent Acquisitions and the Multiple Cannabis Licenses Associated with Each
Rhea-AI Summary
MedCana (OTC PINK:SFWJ), a global infrastructure holding company in the pharmaceutical-grade cannabis industry, has announced multiple acquisitions and associated cannabis licenses. The company has acquired a total of 23 licenses, including 7 CBD licenses, 7 THC licenses, 7 licenses for fabrication of cannabis-containing products, and 2 genetics licenses. These acquisitions will add $1.6 million to MedCana's total assets for the 3rd Quarter.
The acquisitions include 100% ownership of several companies: Cannabicolombia group s.a.s., Cannehealth Business s.a.s., Organic Leaves S.A.S., Remedium S.A.S, Royal Cannabis S.A.S, Vital Cannabis S.A.S, and Elemental Genetics S.A.S. Additionally, MedCana has acquired a controlling stake in Eko2o Environmental Solutions S.A.S., a company focused on developing infrastructure for agriculture in Colombia and South America.
Positive
- Acquisition of 23 cannabis licenses across various categories
- Addition of $1.6 million to total assets for the 3rd Quarter
- 100% acquisition of seven cannabis-related companies
- Controlling stake in Eko2o Environmental Solutions S.A.S., expanding into agricultural infrastructure
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, SFWJ declined 22.58%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The licenses will add
AUSTIN, TX / ACCESSWIRE / October 9, 2024 / MedCana (OTC PINK:SFWJ), a leading global infrastructure holding company focused on the pharmaceutical-grade cannabis industry, proudly announces significant and multiple acquisitions, along with multiple cannabis licenses associated with each, bolstering the company's cannabis portfolio globally.
With these recent acquisitions, MedCana has rapidly solidified its position as a leading force in the Cannabis industry. Due to the large number of acquisitions completed, the company would like to break down each acquisition and the cannabis license associated with each to give shareholders a better idea of the scope and magnitude of these new additions to the MedCana portfolio.
MedCana has acquired a total of 23 licenses comprising:
7 CBD Licenses: Produce, Process, Sell
7 THC Licenses: Produce, Process, Sell
7 Licenses: Fabrication of products containing Cannabis
2 License: Genetics
Cannabicolombia group s.a.s.
Medcana has also acquired a controlling stake in Eko2o Environmental Solutions S.A.S. of Medellin, Antioquia. This company is focused on developing infrastructure for agriculture, primarily greenhouse construction and irrigation systems in Colombia and South America. The company recently announced its continued growth and expansion as a critical infrastructure supplier for some of Colombia's largest flower producers. The company also enhances its support and sales operations with international partnerships, notably Danziger International.
Gabriel Diaz, CEO of MedCana, commented: "The acquisitions we have made put Medcana in a position to succeed and ensure profitably."
This marks a new era in MedCana's operations as the company continues to build its presence on the global stage and explore further avenues for offering its premium cannabis products.
About SFWJ/Medcana
Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and cannabis industries. As MedCana moves forward with its expansion plans, the company remains committed to delivering on its promise of building a solid foundation for the future growth of its holdings.
For more information, please visit: www.MedCana.net
Or connect with us via:
MedCana | LinkedIn
https://X.com/@MedcanaCo
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Contact:
Jose Gabriel Diaz, CEO
www.medcana.net
info@medcana.co
SOURCE: Software Effective Solutions
View the original press release on accesswire.com
FAQ
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What is the significance of MedCana's (SFWJ) acquisition of Eko2o Environmental Solutions S.A.S.?
