Canadian cannabis product and brands company CannaRoyalty is continuing its expansion into California, announcing that it has entered an agreement to acquire 100 percent of Sonoma County’s FloraCal Farms for $1 million in cash and 3,508,772 CannaRoyalty shares on close of the deal, with an additional $3 million in cash and the same number of additional shares over three years.

FloraCal was founded three years ago, generating $6.4 million in fiscal year 2017, amounting to $3.2 million of earnings before interest, taxes, depreciation, and amortization. The flower products command $17 per gram. The deal, once finalized, will allow CannaRoyalty to license the strains worldwide.

“FloraCal is truly unique. The rare combination of product consistency, premium pricing, authentic brand, and resoundingly positive feedback from our dispensary partners and California consumers, positions it well to be a future global cannabis brand. We see its success in the discerning California market as evidence that branded flower that is truly differentiated occupies an important place in the cannabis industry.” – Marc Lustig, CannaRoyalty CEO in a press release

Drew Duval, FloraCal CEO, said the merger will allow the brand to develop to a size the company couldn’t achieve on their own.

This is the fourth California cannabis company acquired by the Canadian firm in the last calendar year. In 2017, CannaRoyalty acquired distributor Alta Supply and Kaya Management Inc., the exclusive manufacturer and license holder for Bhang brand vaporizer products. Just last month, the Ottawa-based firm acquired River Distribution which holds both medical and recreational distribution licenses in California.

Do you own a cannabis industry business? Create a listing in our directory and get discovered by new clients - Click Here
.

Tags: , , | Categories: Cannabis Business News International Cannabis News Recreational Cannabis News

Learn about cannabis businesses:

View the directory | Get featured here

  • The Hybrid Creative

    We are an award-winning, full spectrum creative agency with expertise in cannabis and eCommerce. We have supported the creative strategy and successful growth of cannabis brands such as Care by Design, Korova, Bhang, AbsoluteXtracts, Wildflower, and BDS Analytics. Website design and development, company and product naming, logo design, brand development, brand strategy, packaging, labeling, marketing collateral, sales tool kit collateral, digital marketing strategy, and social media support are a few of the many services we offer. If you’re looking for an experienced, forward-thinking, creative agency with a proven track record of success to elevate your brand and empower your success, welcome to The Hybrid Creative!

  • Weed Pay LLC

    Weed Pay is a cannabis banking and merchant services company. We think differently than conventional credit card processing companies due to our history of handling high-risk accounts. We are experts in the field of alternative payment options, merchant accounts, and banking. Our mission and vision are to provide needed customer support services to the cannabis industry within these areas.

  • eBottles 420

    The ultimate online resource for packaging supplies: we offer multiple options for every item you would possibly need, from vape cartridges to concentrate jars to child-resistant bottles.

  • Moriconi Flowers Ltd.

    Moriconi Flowers Ltd. is a law firm dedicated to applying decades of legal expertise to the emerging commercial and medical cannabis and hemp markets in the United States and abroad. Building off of careers in commercial litigation, transactional debt instruments, oil and gas regulation, liquor licensing, insurance coverage, and catastrophic loss, the attorneys at Moriconi Flowers Ltd. routinely navigate regulated markets.

  • Steep Hill

    Steep Hill is the world's leading cannabis science and technology company with significant footprints in lab testing, research and development, licensing, genetics, and remote testing. No other company brings these sectors into one synergistic whole. With the goal to provide "best practices" in cannabis testing, we provide expert consulting services to legislators and regulators in many countries around the world. Steep Hill: Leading the Science of Cannabis. Globally.

  • Diamond Business Loans

    Diamond Business Loans, is a Direct Lender, Syndicate, and Brokerage. Whether you need to get new equipment, finance your accounts receivable and inventory, raise working capital, or acquire a company, DiamondBL.com can do it all. From StartUps to well-established businesses, we have a financing solution for you. Please contact us today for a free, no obligation analysis of your financing needs.

  • Lightning Labels

    Lightning Labels uses state-of-the-art printing technology to provide affordable, full-color custom labels and stickers of all shapes and sizes. From small orders for individuals to the bulk needs of big businesses, Lightning Labels is equipped to handle and fulfill custom label and product sticker orders of all types. Best of all, like the name implies, Lightning Labels provides exceptionally quick turnaround for all your printing needs.

  • Cannabis Advising Partners

    Cannabis Advising Partners provides full-service licensing, compliance and business services for cannabis companies in California. Building on over 20 years of experience with CA compliance, we help all types of cannabis companies navigate the new and complex requirements that surround everything from the submission of an annual license to the broad range of intricate ongoing compliance standards that are mandated by law.

  • Denali Accountants

    We offer a complete bookkeeping and accountancy service to self-employed individuals and small businesses. We have been providing these services for 30 years and have built up a strong client base of small businesses. We understand your needs and deliver a personal service catering to the specific needs of your business. We are diamond QuickBooks Pro advisors!

  • Portable Smoke

    Portable Smoke is your online destination for purchasing portable discreet items for your smoking needs. We recognize that smoking may be a discreet and a recreational activity to participate in alone or with trusted friends. As a result, we specialize in selling grinders and bowls that you can hide right under everyone’s nose.

  • Emerald Elite Consulting

    We are cannabis cultivation specialists. With over 40+ years of combined experience from the heart of American cannabis history and innovation, the Emerald Elite team and its network of cultivators offer a truly unparalleled depth of experience for our clients' advantage. Production of the cleanest, highest quality cannabis in the world is our passion.

  • Mac & Fulton Talent Partners

    Mac & Fulton Talent Partners is the most knowledgeable and attentive recruiting service in the cannabis industry. To this end, we have set a high standard of professionalism and follow-through concerning as peer as well as clients, one that will help lay a solid foundation for industry growth and progress.

Want a job in the cannabis industry?

Sign up to apply for unlimited jobs and get discovered by companies who are hiring

Post Your Resume View all jobs

Recent Job Postings

Subscribe for daily cannabis news, announcements, and business insights.

Stay informed about the latest cannabis industry news, policy progress, and business developments.