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CordovaCann to acquire Extraction Technologies

Oct. 23, 2020 8:22 AM ETCordovaCann Corp. (LVRLF)


  • CordovaCann (OTCQB:LVRLF) entered into an arm's length transaction via a non-binding letter of intent to purchase Washington-based Extraction Technologies, cannabis extraction services provider to multiple cannabis licensed processors within the State.

  • Proposed consideration for the transaction is 2M shares on closing date and 500K shares for every $125K in EBITDA generated by Extraction Tech during the 12-month period commencing post 3 years of transaction closure with maturing of 15 years.

  • Through the transaction, Cordova will provide manufactured cannabis products on both a white label and branded basis across the state of Washington.

  • Transaction expected to close on or before Dec.1.


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