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BevCanna Enterprises announced record sales for its e-commerce platform, Pure Therapy, since its acquisition in September 2020. The projected revenue run rate is C$7.68M with positive EBITDA of C$.37M. The company has acquired 3,270 new customers and expects to secure a Canadian Standard Processing License and finalize its acquisition of Naturo Group, valued over C$37M, soon. This merger will create a comprehensive health beverage company with an asset base exceeding C$55M and a broad distribution network.
BevCanna Enterprises has successfully completed a $5 million capital raise, which includes a fully-subscribed C$3.5 million offering at $1.50 per unit. The financing replaces a previously announced unit offering priced at $0.50 due to increased investor demand. These funds will facilitate ongoing domestic and international growth initiatives, including the acquisition of Naturo Group and the expansion of its Pure Therapy brand. Additionally, the company has settled $37,500 in debt through the issuance of shares.
BevCanna Enterprises (CSE:BEV, OTCQB:BVNNF) announces an equity investment from Keef Brands, the leading cannabis beverage company in the U.S. This strategic partnership positions BevCanna as the exclusive Canadian licensee for Keef, leveraging their extensive distribution network and facilitating access to over 1,000 U.S. dispensaries. The investment, which includes 182,500 common shares at $0.70 each, underscores Keef's confidence in BevCanna's growth potential, especially with anticipated U.S. federal cannabis legalization.
BevCanna Enterprises (CSE:BEV, OTCQB:BVNNF) announces its application for a Standard Processing Licence has reached the final review stages with Health Canada, expecting imminent approval. The company submitted formal responses to Health Canada on December 8, 2020, with no further information requests anticipated. This licence will authorize BevCanna to produce cannabis-infused products at its manufacturing facility and serve both in-house brands and white-label clients by Q1. Additionally, the acquisition of Naturo Group is expected to close soon, bolstering their market position.
BevCanna Enterprises announces the impending acquisition of Naturo Group, set to close by January 20, 2021. This merger aims to create a comprehensive health and wellness beverage company, benefiting from combined expertise and innovative leadership. Key advantages include the establishment of a unique beverage manufacturing vertical, ownership of an $18M alkaline spring water aquifer, and access to over 3,000 retail points. The new entity will enhance BevCanna's product offerings and distribution capabilities.
BevCanna Enterprises aims to expand into the U.S. market, exploring strategic partnerships and acquisitions. The company is targeting strong beverage brands and distributors, aiming to tap into the growing demand in the plant-based functional beverage sector, projected to grow at a 6.63% CAGR to reach $234.48B by 2023. Key initiatives include introducing its mineral beverage TRACE and leveraging the recent acquisition of Pure Therapy for e-commerce expansion. This positions BevCanna as a notable player in the wellness market, particularly in the burgeoning U.S. CBD space.
BevCanna Enterprises Inc. (BVNNF) announced its acquisition of Naturally Pure Therapy Products Corp., enhancing its position in the natural health products market. This strategic move allows BevCanna to leverage Pure Therapy's e-commerce platform and existing customer base of over 22,000, potentially driving revenue growth. The acquisition, valued at C$6 million, involves the issuance of 30 million common shares. Pure Therapy reported gross revenues of C$4.77 million in 2019, indicating a profitable integration opportunity. The deal remains contingent on regulatory approvals and due diligence.