BevCanna Completes $21M Acquisition Of Embark Health, Now Has More Than $100M In Assets

BevCanna Enterprises Inc. (CSE:BEV) (OTCQB:BVNNF) (FSE:7BC) announced Friday that it has closed its previously announced acquisition of solventless cannabis extraction and delivery technology provider Embark Health Inc.

“Completing the acquisition of Embark Health is a significant milestone in BevCanna’s strategic transformation into a diversified health and wellness company,” John Campbell, CFO and chief strategic officer of BevCanna stated. “The acquisition also bolsters BevCanna’s balance sheet. Embark brings $17 million in tangible and intangible assets, including direct ownership of $11 million in equipment and the use of a modern production facility in Delta, BC. This acquisition brings BevCanna to over $100 million in unaudited assets on the balance sheet and $2.9 million in long-term liabilities.”