Cann Group to acquire Satipharm from Harvest One Cannabis

Company News

by Michael Luu

Medicinal cannabis producer Cann Group (ASX:CAN) has sealed a deal to acquire Satipharm from Canadian-domiciled Harvest One Cannabis (CVE:HVT).

The acquisition will provide the buyer an exclusive license to develop and market the proprietary Gelpell delivery system for cannabinoids and accelerate the development of other novel THC-based medicines. Market researchers have tipped the acquisition to widen Cann (ASX:CAN)’s market reach, considering existing commercial supply agreements with distribution channels in the UK, Ireland and Eastern Europe.

Shares in Cann Group (ASX:CAN) are trading 1.3 per cent higher at $0.78.

Michael Luu

Finance News Network
Michael joined FNN in December 2017 with a passion for creativity and TV production. Possessing over four years of international experience in broadcasting, he has hosted, edited and produced video content for Vietnam’s national broadcaster VTV, Germany’s DWTV and the APEC Summit. Michael is also a freelance videographer and casual correspondent for VTV in Australia.