StillCanna, which is primarily based in Vancouver, British Columbia and traded on the Canadian Securities Exchange, paid $two million in money and pledged Olimax owner-operators Zofia Vahlberg and Krystyna Bojek 24,000,000 typical shares for 100% of the vertically integrated Kielce, Poland-primarily based enterprise. StillCanna shares have been trading about $1.25 more than the final six months.
“This acquisition uniquely positions StillCanna in the provide chain of wholesale CBD in Europe,” mentioned Jason Dussault, CEO at StillCanna. “There is international interest in sourcing a trusted flow of wholesale CBD in Europe.”
Polish hemp veterans
Olimax provides StillCanna a European-primarily based licensed cultivator, extractor and formulator of CBD. Vahlberg and Bojek have 40 years combined expertise in hemp merchandise, and have created a patented micro-element fertilizer as properly as a proprietary, EU-certified higher- CBD hemp range. They will continue to oversee day-to-day management of Polish operations which this year will be primarily based on 1,500 hectares of hemp fields.
Plans get in touch with for expansion of developing fields as properly as Olimax’s CBD extraction capacity.
The deal is the second in the final 12 months in which substantial Canadian cannabis firms have purchased Polish organizations following The Green Organic Dutchman purchased CannabiGold brand parent HemPoland final August.