Business
Dash Capital Corp. and Simply Solventless Concentrates Ltd. Announce Asset Purchase Agreement for the Acquisition of Fully Licenced Cultivation and Processing Facility from Sundial Growers Inc.
Calgary, Alberta--(Newsfile Corp. - September 3, 2021) - Dash Capital Corp. ( TSXV: DCX.P ) ("...
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"Dash Capital Corp. and Simply Solventless Concentrates Ltd. Announce Asset Purchase Agreement for the Acquisition of Fully Licenced Cultivation and Processing Facility from Sundial Growers Inc.Calgary, Alberta--(Newsfile Corp. - September 3, 2021) - Dash Capital Corp. (TSXV: DCX.P) (\"Dash\") and Simply Solventless Concentrates Ltd. (\"SSC\" or the \"Company\") are pleased to announce that SSC has entered into an asset purchase agreement (the \"Agreement\") dated September 2, 2021 with Sundial Growers Inc. (\"Sundial\") to acquire its 33,000 square foot fully licenced cultivation and processing facility located in Rocky View County, Alberta (the \"Rocky View Facility\") (the \"Transaction\").SSC's products are currently manufactured at the Rocky View Facility under a licence agreement (\"Licence Agreement\") with Sundial that was announced in a press release disseminated by Sundial on December 28, 2020. The Licence Agreement will terminate upon closing of the Transaction. Consideration for the Rocky View Facility is comprised of $1.5 million cash and a $3.5 million mortgage in favour of Sundial. It is anticipated that the Transaction will close in late Q4 2021 or Q1 2022 upon receipt of SSC's Health Canada licences. SSC was founded on July 10, 2020, the cannabis holiday for consuming cannabis oils and concentrates. Since that day, SSC has focused on building a world class team of cannabis professionals and hashishins, executed the Licence Agreement, commenced operations, generated valuable intellectual property, completed two over-subscribed equity offerings, and entered into an amalgamation agreement with Dash in respect of a go-public transaction under the ticker symbol \"HASH\", as previously announced by SSC and Dash in the news release disseminated by Dash on August 9, 2021. With first revenue achieved in May 2021, and a broad portfolio of product capability ranging from old school hash to live diamonds and sauce, SSC is poised to be a leader in solventless concentrates in Canada. ABOUT SIMPLY SOLVENTLESS CONCENTRATES LTD.SSC's mission is to provide pure, potent, terpene-rich solventless concentrates to discerning cannabis consumers through contract manufacturing agreements with Canadian licenced producers. For more information regarding SSC, please see www.simplysolventless.ca.FURTHER INFORMATIONAll information contai...