Yooma Wellness Inc - Toronto, Canada-based CBD and cannabis-related wellness products maker - Buys Texas, US-based sparkling water beverages company Big Swig Inc to enhance US presence and open doors for new product offerings. Merger agreement values Big Swig at USD2.5 million, consideration to be paid by Yooma on completion and consists of up to 1.7 million Yooma shares at 0.795 US cents each, subject to Big Swig debt and short-term working capital at closing.
"This exciting acquisition is the second step in the strategic plan we presented to our investors at the time of our dual listing in London last month," says Yooma Chief Executive Jordan Greenberg. "Big Swig will expand our footprint in the US and add a whole new line of product offerings to our platform, with the potential for real cross-pollination with our CBD and wellness brands and capabilities."
By Josie O'Brien; josieobrien@alliancenews.com
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