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Medicine Man to acquire cannabis edibles maker Canyon LLC

  • Medicine Man Technologies (OTCQB:MDCL +1%) inks a binding term sheet to acquire privately held Canyon LLC, a maker of all-natural cannabis-infused edibles.
  • Under the terms of the deal, MDCL will purchase Canyon for $5.13M in cash and stock, with a ceiling on the cash component of $2.565M. The value of the transaction could be adjusted depending on the final agreement.
  • Canyon expects to generate $3.3M in revenues this year.

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