Cann-Is Capital Corp., a Canadian organization that assists cannabis corporations raise capital, has purchased all outstanding equity of CWE European Holdings, a privately held Canadian holding organization that sells CBD in German-speaking nations in Europe.
Cann-Is Capital did not disclose a buy quantity.
CWE owns and operates six retailers in Germany by way of DCI GmbH, a wholly owned German subsidiary, and one particular shop in Luxembourg by way of CBD Wellness Europe. The retailers operate below the brand name Hanf and sell hemp-derived goods like CBD.
According to Cann-Is, CWE had 2018 net income of about $860,000 (CA$1.1 million), with a $152,000 net revenue (CA$203,000). Cann-Is Capital trades on the TSX Venture Exchange as NIS.P.
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