PharmaCann Plans to Acquire LivWell Enlightened Health
PharmaCann is one of the largest vertically integrated cannabis companies in the country. That said, PharmaCann announced its plan to enter a definitive merger agreement to acquire LivWell Enlightened Health. This transformative alliance caused a lot of buzz surrounding how it will affect the accessibility of cannabis in the United States. Therefore, MJBizDaily invited expert cannabis consultant, Michael Mayes to discuss this impactful acquisition.
As a leader in cannabis consulting, Mayes explains the influence that the acquisition will have on the industry. He estimates the deal of LivWell to value between $100 million and $300 million. Furthermore, the cannabis consultant told MJBizDaily “I felt PharmaCann was always a powerhouse, and this LivWell deal just reiterates that, and their strength”.
“This is a union of two first-rate operators” – Jeremy Unruh, Senior VP of Public & Regulatory Affairs of PharmaCann
Once the merger is complete, PharmaCann will gain LivWell’s 60 retail outlets and 11 cultivation/production facilities. Although both companies are currently private, the cannabis consultant explains PharmaCann’s intention to go public. According to MJBizDaily, this gives PharmaCann and LivWell more “flexibility to negotiate deal terms.”
Although no details of the deal can be public until the agreement is complete, the cannabis consultant notes that it’s only a matter of time before PharmaCann is an IPO. He adds “That’s when the lion’s share of their value is going to come into play.”
It’s Only a Matter of Time
Additionally, Mayes states that “the likelihood of this thing going through is high”. Until both companies are pretty far in the process, it is only a waiting game to see where the industry will transform.
All in all, Mayes and the team at Quantum 9 work diligently toward cannabis licensing and permit acquisition. For more information about license applications, please click here or hit the contact button below.