Arizona-based marijuana and hemp vape product distributor 3Win Corp. announced Tuesday that it inked a deal to acquire British Columbia-based Serenus Global, a “multidisciplinary controlled substances company” that has business interests in both cannabis and psychedelics.
Terms of the deal were not disclosed, but 3Win said in a press release that Serenus will function as a subsidiary of the parent company, while the “management teams and boards will combine” moving forward. The deal is expected to close by Dec. 12, pending approval from Serenus shareholders.
“Our combined management team will provide unparalleled experience in the international distribution and marketing of safe, highest-quality controlled substances for both medical and recreational purposes,” 3Win CEO Christopher Sinacori said in the release. “The future in the psychedelic sector is our next big growth opportunity, and Serenus gives us a unique advantage in this space.”
Serenus Executive Chairman Rodney Hu added that he believes the merger will give Serenus a better shot at global expansion.