North Bud Farms Signs Binding Letter of Intent to Enter U.S. Market with Strategic Acquisition of Multi-State Licensed Operator Eureka Vapor
- Transaction valued at CAD$20 million
- In 2018, Eureka recognized revenue of approximately CAD$11.5 million*
- net profit margin of 16%* from its California and Colorado operations
- Anticipates further growth in revenue due to anticipated changes to retail regulation of adult cannabis use in California.
WHY NORTHBUD FARMS?
- Canadian regulatory door for CIP (Cannabinoid Infused Products) is opening this year
As shown in other legal jurisdictions (Colorado, Washington, Nevada, California) - Infused products sector has become the highest margin segment of the industry
- Positioned to be a raw input producer for this space
- Currently working with multiple food, beverage and science companies to provide safe standardized cannabinoid infused raw inputs for large scale GMP manufacturing of products
Cultivation facility is progressing on schedule and on budget, video update below:
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