Avicanna Inc. (TSX:AVCN) entered into definitive Asset Purchase Agreement to acquire Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. on May 25, 2023. As part of the Agreement?s terms, Avicanna will acquire specific assets of the Business, including inventory and equipment, for approximately CAD 2.6 million and will pay Shoppers an earn out, based on net revenues, for a period of two years. The transaction is expected to close on July 31, 2023.

Avicanna Inc. (TSX:AVCN) completed the acquisition of Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. on July 31, 2023.