Operating out of a 5,400 square foot facility in Vancouver, British Columbia, Anandia Labs is an independent cannabis analytics, testing, and genetics company. As one of Health Canada’s 33 licensed dealers, Anandia Labs is permitted to cultivate, extract, analyze, import/export and buy/sell/trade cannabis in any form
The financing will go towards the first phase of the Anandia Labs’ Cannabis Innovation Centre, a 40,000 square foot complex that includes a 20,000 square foot R&D cultivation facility and a 20,000 square foot building to meant for housing tissue culture and extraction infrastructure.
After accounting for the financing, CannaRoyalty owns approximately 17% of Anandia Labs.
In February 2017, CannaRoyalty invested $3.9 million in Anandia Labs at a post-money valuation of $18 million. The current financing’s post-money valuation represents a growth of approximately $7 million or 180% for CannaRoyalty shareholders.
CannaRoyalty’s wholly owned business unit, CR Advisory, which has an ongoing engagement with Anandia Labs, will receive approximately 229,421 Anandia Labs shares and a cash payment of $240,000 in exchange for services rendered
“Congratulations to Dr. Page and the entire team at Anandia Labs for the achievement of this milestone and for being named the Top Testing Lab in Canada for 20171,” said CannaRoyalty CEO Marc Lustig, in a statement. “With an approximate 20% market share of licensed producers under Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”), Anandia Labs continues to position itself as a Canadian leader in cannabis testing and analytics.”
Anandia Labs provides analytical testing services including potency, pesticides, microbes and terpenes to Licensed Producers and patients. In addition, Anandia Labs uses its cannabis-specific scientific expertise to assist its customers in the analysis of their testing results and resolution of any detected non-conformities. Anandia Labs has also completed extensive research into cannabis genetics and has built a significant collection of cannabis germplasm.
Most recently, CannaRoyalty’s stock was trading at $4.23, down from its 52 week high of $5.05 but well above its 52 week low of $1.63.