Business
LGC Capital to acquire 47% of EasyJoint, Italy's largest vertically-integrated legal cannabis producer, distributor, and retailer
LGC Capital to acquire 47% of EasyJoint, Italy's largest vertically-integrated legal canna...
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[{"type":"text","content":"\n\n\n\n\nLGC Capital to acquire 47% of EasyJoint, Italy's largest vertically-integrated legal cannabis producer, distributor, and retailer\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\nMONTREAL, Nov. 12, 2018\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES/\nLGC Capital to acquire 47% of Italian Cannabis Light Company, EasyJoint Project SRL. EasyJoint has an estimated 85% market share of Italy's Cannabis Light market. EasyJoint currently sells through over 450 retail outlets in Italy and 11 branded stores. EasyJoint had over C$6 million in sales in the 10-months to October 31, 2018. EasyJoint's products consist of over 150 branded items ranging from dry cannabis flowers to CBD oils and edibles. LGC anticipates applying for listing on the U.S. OTCQB in the near future. MONTREAL, Nov. 12, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) and (OTC-PINK: LGGCF) (\"LGC\") is pleased to announce that is has entered into a formal definitive agreement to acquire 47% of EasyJoint Project SRL (\"EasyJoint\"), an Italian company, for a total cash and share consideration of €4.788 million (C$7.153 million at today's exchange rate of 1 EUR = 1.494 CAD). Definitive documentation will now be submitted to the TSX Venture Exchange (the \"TSXV\") and closing of this transaction is subject only to TSXV review and approval.\nEasyJoint's Market Presence in Italy\nEasyJoint (https://www.easyjoint.it/) is widely recognized as the market leader in Italy, having been extensively written up in the media, including this New York Times article:\nhttps://www.nytimes.com/2018/04/21/world/europe/italy-cannabis-flowers.html  \n\nEasyJoint's Store in Milan, Italy\nEasyJoint currently controls approximately 85% of the distribution of legal \"cannabis light\" retail products in Italy and has established itself as the leading brand in Italy. EasyJoint products are distributed in over 450 retail points of sale in Italy and rapidly expanding beyond current specialty stores to EasyJoint branded franchise stores. Eleven EasyJoint fran...