Strategic acquisition by Cannex to add innovative California wellness brand combining cannabis and holistic medicine including a premium hemp-derived CBD product portfolio
VANCOUVER, BC, February 25, 2019 - Cannex Capital Holdings Inc. (CSE: CNNX) (OTCQX: CNXXF) (“Cannex” or the “Company”) is pleased to announce that it has signed a binding letter agreement (the “Agreement”) to acquire 100% of San Diego, California based Pure Ratios Holdings, Inc. (“Pure Ratios”), (the “Transaction”) in a cash and stock transaction.
- Pure Ratios augments Cannex's brand portfolio with strong positioning in the CBD and cannabis wellness category;
- Pure Ratios has expertise integrating CBD into a variety of form factors including a 96-hour transdermal patch;
- Pure Ratios CEO, Chad Conner, is an experienced practitioner of holistic medicine and a recognized public speaker on integrating cannabis into alternative approaches to wellness;
- Cannex reviewed a number of CBD product opportunities and Pure Ratios' products, formulations and growth prospects stood out, particularly when supported by Cannex's manufacturing and distribution capabilities;
- Adding Pure Ratios to the multi-state production and retail footprint of the Cannex/4Front platform is expected to quickly expand overall reach and enhance growth;
- The Cannex 4Front business combination is progressing with definitive documents anticipated to be executed imminently.