Business
Westleaf to Combine with We Grow BC, Ultra Premium Cannabis Producer of Qwest Branded Products
Westleaf to Combine with We Grow BC, Ultra Premium Cannabis Producer of Qwest Branded Prod...
About this update from Decibel Cannabis Company Inc
[{"type":"text","content":"\n\n\n\nWestleaf to Combine with We Grow BC, Ultra Premium Cannabis Producer of Qwest Branded Products\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 7, 2019\n\n\n\nTransaction is expected to enable We Grow's Qwest brand to rapidly expand and reach a broad consumer audience through Westleaf production facilities and retail assetsSupport from ATB Financial financing and insider-led equity financing CALGARY, Nov. 7, 2019 /CNW/ - Westleaf Inc. (the \"Company\" or \"Westleaf\") (TSX-V: WL) (OTCQB: WSLFF) is pleased to announce that it has entered into a definitive arrangement agreement (\"Arrangement Agreement\") to combine with We Grow BC Ltd. (\"We Grow\"), a leading indoor cannabis producer located in Creston, British Columbia (the \"Transaction\"). We Grow brings an ultra-premium cannabis brand, Qwest (\"Qwest\"), which achieves some of the highest realized pricing in the Canadian adult-use markets(1). The combination of We Grow's Qwest brand with Westleaf's high quality production and retail assets, creates a combined company which is expected to be one of Canada's preeminent craft-at-scale cultivators, manufacturers, and retailers of ultra-premium cannabis products.\n\n \n \n\n \n\"This transaction brings together a known brand with revenue and EBITDA to complement some of Canada's most premier indoor cultivation and extraction facilities. Together, we will be able to aggressively expand a trusted brand, increase market share, drive revenue and EBITDA growth and become an extremely competitive company in Canada and beyond\" said Scott Hurd, President and Chief Executive Officer of Westleaf.\n\"Westleaf has built world class cultivation, extraction and retail assets that will allow us to scale quickly and address the existing demand for our Qwest branded products. Together, we create the preeminent ultra-premium cannabis brand in Canada\" said Benjamin Sze, Chief Executive Officer of We Grow.  \nHighlights of the Transaction\nThe Arrangement is expected to accelerate We Grow's strategy to expan...