CordovaCann (OTCQB:LVRLF) has entered into a letter of intent to purchase a 50.1% stake of 2734158 Ontario Inc., for C$723k.
2734158 Ontario Inc., is an Ontario-based cannabis venture with a cannabis retail operating license from the Alcohol and Gaming Commission of Ontario.
This transaction will enable Cordova to open five recreational cannabis stores in Ontario under the Starbuds brand, and further gives Cordova the right to apply to open a total of 75 stores in the province over the next year and a half.
The Transaction is subject to prior approval from the Alcohol and Gaming Commission of Ontario and compliance with all applicable laws, rules and regulations.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
Source: Seeking Alpha
