BevCanna Enterprises Inc. (CSE: BEV) (OTCQB:BVNNF) announced that it has acquired Carmanah Craft Corp.
Pursuantto a share exchange agreement dated January 13, 2020 with Carmanah and each ofthe shareholders of Carmanah, the Company has completed the acquisition of allthe issued and outstanding securities of Carmanah and the business of Carmanah.
Theacquisition of the cannabis genetics expert gives BevCanna access to anextensive library of cannabis genetics, including 50 premium cannabis strainsand over 25 types of cannabis seeds, including six auto flower seed varieties.There is an excess of 50 strains by clone and 250,000 cannabis seeds rangingfrom high THC to high CBD. Additionally, a large portion of the genetics areoutdoor-specific strains that originated in California, which boasts a verysimilar climatic zone to our operations in the Okanagan and are expected toincrease yields. The library of genetics includes many of the top moldresistant, outdoor, high yielding, auto flower seeds, many of which areanticipated at 2kg+ of yield per plant. With the addition of such a substantialauto flower library, the harvest times will start much earlier allowing formuch more organized final processing.
"Thisdeal will dramatically increase our overall cannabis yield projections."said Joey Bedard-Brunet, Head of Cultivation at BevCanna. "Together withthe recently announced increase in our outdoor cannabis cultivable land toalmost 300 acres, the acquisition of Carmanah's proven outdoor genetics willallow BevCanna to develop into one of the largest outdoor cannabis cultivatorsin Canada." said John Campbell, Chief Strategy Officer at BevCanna.
