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.

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