Canadian Cannabis Firms Close Merger

Tweed Marijuana, a publicly traded medicinal marijuana company on the Toronto Stock Exchange-Venture board (TWD), announced Monday morning that the company had completed its merger with Bedrocan Cannabis in an all-stock deal valued at about CDN$61 million on the day the arrangement was first announced in June.

Tweed is Canada’s first publicly traded medical marijuana company and Bedrocan is a clinical research firm that claims to be one of only two companies in the world currently capable of producing standardized full-bud, pharmaceutical grade medicinal cannabis. Bedrocan operates as a division of Tweed, and Bedrocan’s shareholders own approximately 40% of the merged companies. Tweed shareholders own about 60%.

The combined company claims more than 5,600 active registered customers. Beginning tomorrow, September 1, customers of either producer will have access to both dried cannabis strains and soon for cannabis oils as well. Bedrocan’s standardized, pharmaceutical-grade product line is a direct extension of...

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