Canaccord Genuity SPAC to negotiate merger with Columbia Care
Canaccord Genuity Growth Corp (NEO: CGGC.UN) has agreed to negotiate a merger with Columbia Care LLC, a New York-based provider of medical cannabis products and services. As part of the negotiation, the parties have agreed that CGGC, a Canadian special purpose acquisition corporation (SPAC), will be valued at $60.7 million, while Columbia Care will be valued at US$1.35 billion. Founded in 2012, Columbia Care holds 33 licenses in 13 states and has a portfolio of more than 60 dispensaries and 16 cultivation-manufacturing facilities. CGGC is managed by an affiliate of Canaccord Genuity Group Inc.
18 October 2018•6 mins read
