Serruya-backed Aleafia Health to acquire Emblem
Aleafia Health Inc (TSX-V: ALEF) has agreed to acquire Emblem Corp (TSX-V: EMC), a Toronto-based cannabis company, in an all-share deal valued at about $173.2 million. Upon completion, the transaction will see Aleafia and Emblem shareholders own about 59 percent and 41 percent of Aleafia, respectively. Aleafia is a Concord, Ontario-based medical cannabis cultivator and clinic operator. Its combination with Emblem is expected to create a medical cannabis network with access to 40 clinics and education centres. Last month, Serruya Private Equity invested $10 million in Aleafia to support its entry into the adult-use space and launch retail operations.
19 December 2018•9 mins read
