Acquisition News From Surterra, Nabis and Driven Deliveries

Surterra Wellness

Surterra Wellness announced the acquisition of Molecular Infusions, a Boston-based biotechnology research and development company that leverages innovative product delivery systems to improve the results of cannabis therapies.  The acquisition expands Surterra’s research and development capabilities and establishes its first international footprint. Mi is a leader in cannabinoid formulation and delivery with proprietary technology platforms in oral, inhalation, and topical cannabis formats, each designed to improve overall user experience, provide market-leading dosing control, and deliver more predictable and targeted health benefits.

“Acquiring Mi reflects Surterra’s intention to aggressively expand our global research and product development capabilities to launch our next wave of cannabis brands that meet patient and consumer needs today and in the future.  We see endless opportunities in cannabis 3.0 – where innovation, global brand building, and ability to scale globally will lead the way,” said Surterra Chief Executive Officer William “Beau” Wrigley, Jr.  “Mi shares our long-term view and can execute in a big way.  We welcome their world-class leadership and elite research teams who have blue-chip reputations and affiliations with top research and educational institutions. We look forward to disrupting the cannabis industry together.”

Driven Deliveries

Driven Deliveries, Inc., (DRVD) completed the acquisition of Ganjarunner, Inc., a cannabis delivery company that provides high-quality lab-tested, pesticide-free medicinal and recreational products throughout California.

In addition to growing Ganjarunner’s customer base, the acquisition of Ganjarunner will allow for Driven to leverage its brand-to-consumer model across virtually the entire state of California. The subsidiary will provide Driven with multiple fulfillment centers, an additional delivery license in California, and a unique technology platform that will allow for improved efficiency. Ganjarunner has shown continuous revenue growth since its inception. During the previous 12 months, the Ganjarunner, Inc. successfully completed 18,854 deliveries to more than 7,748 customers and has experienced year over year revenue growth of 49.3%. As a subsidiary of Driven, Ganjarunner is projected to reach $4.1 million in revenue by the end of 2019.

Nabis Holdings

Nabis Holdings Inc. (CSE:NAB) (OTC: NABIF) completed the purchase of 2,260,500 common shares, representing a 49% interest, of Cannova Medical Ltd., a provider of innovative solutions for cannabis consumption, with the option to acquire the remaining 51% interest.

“Our goal for strategic investments at Nabis is to enter multiple aspects of the cannabis sector including related technology,” said Shay Shnet, CEO & Director of Nabis. “The Cannova team is focused on developing innovative solutions addressing an industry-wide concern to have the ability to better measure cannabis consumption. We are thrilled to have closed our 49% interest acquisition enabling the Cannova team to bring this disruptive technology to market at an increased pace.”

“At Cannova we are developing unique solutions addressing the unmet need for reliable and customized cannabis consumption. The combination of cannabis with smart and innovative technology is key to the future of both medical and recreational cannabis usage,” said Omri Schanin, Founder & CEO of Cannova. “We are excited to work with the Nabis team leveraging their extensive experience and capabilities to help us reach our growth goals faster.”

 

 

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


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