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May 16, 2019, 8:41 a.m. EDT

Supreme Cannabis to acquire Blissco in all-stock deal valued at about $36 million

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By Ciara Linnane

The Supreme Cannabis Co. Inc. /zigman2/quotes/203819708/delayed SPRWF +1.54% /zigman2/quotes/209645734/delayed CA:FIRE +1.85% said Thursday it has reached an agreement to acquire Blissco Cannabis Corp. /zigman2/quotes/201231988/delayed HSTRF +37.50% in an all-stock deal valued at about C$48 million ($36 million). Under the terms of the deal, Blissco shareholders will receive 0.24 of Supreme Cannabis common stock. Blissco is a wellness brand that makes cannabis oils based in Langley, British Columbia, that operates a 18,000 square foot production facility with extraction capabilities. Blissco Chief Executive Damian Kettlewell will continue to lead the company and has committed to stay with Supreme Cannabis with at least 75% of his shares for a minimum of two years. The deal must be approved by shareholders at a special meeting. Neither stock was active premarket. Supreme Cannabis shares have gained 46% in 2019 to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% has gained 4.7%.

/zigman2/quotes/203819708/delayed
US : U.S.: OTC
$ 0.20
+0.0030 +1.54%
Volume: 238,807
April 7, 2020 3:54p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$70.20 million
Rev. per Employee
N/A
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/zigman2/quotes/209645734/delayed
CA : Canada: Toronto
$ 0.28
+0.0050 +1.85%
Volume: 454,303
April 7, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$97.50 million
Rev. per Employee
N/A
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/zigman2/quotes/201231988/delayed
US : U.S.: OTC
$ 0.06
+0.02 +37.50%
Volume: 297,126
April 7, 2020 3:57p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
2,659.41
-4.27 -0.16%
Volume: 4.22B
April 7, 2020 5:09p
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