Monday, October 6, 2025

Latest

Avicanna To Purchase Assets of Medical Cannabis By Shoppers For $2.6 Million

Avicanna (TSX: AVCN) has confirmed it will be moving forward with the previously announced plan to acquire Medical Cannabis by Shoppers.

A definitive agreement has now been entered between Shoppers Drug Mart, a subsidiary of Lowlaw Companies (TSX: L) and Avicanna, providing for the purchase to proceed and close by July 31, 2023. The transaction was originally announced in late March.

The transaction is set to consist of an upfront payment of $2.6 million for specific assets of the business, which includes inventory and equipment. A two-year earn-out is also attached to the deal.

Upon completion of the transaction, current customers of Medical Cannabis by Shoppers will be transitioned to MyMedi.ca. Avicanna has previously stated that the new platform will also feature pharmacist-led support programs, as well as education in the areas of harm reduction. Specialty services will also be offered to distinct groups such as veterans.

“Since the initial announcement in March 2023, we have worked diligently and collaboratively to develop and execute a seamless process for transitioning patients, and address various patient, product and operations matters through the buildout of MyMedi.ca,” commented Avicanna CEO Aras Azadian.

Medical Cannabis by Shoppers was originally launched in January 2019, roughly three months after recreational cannabis was legalized across Canada. In the time since the platform is said to have “supported tens of thousands of patients,” while listing over 30 cannabis brands.

Avicanna last traded at $0.385 on the TSX.


Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Loblaw Misses Revenue Estimates In Q3 2024 Despite Profit Boost

Retail giant Loblaw Companies (TSX: L) fell short of revenue expectations in the third quarter, posting...

Wednesday, November 13, 2024, 03:05:00 PM

Loblaw Q1 2023 Financials: Revenue Jumps, Profits Decline, $383 Million In Buybacks

Loblaw Companies (TSX: L) reported 6% growth in first-quarter revenues, boosted by robust demand for necessities...

Wednesday, May 3, 2023, 10:40:55 AM

Food Professor Says Galen Weston Jr. Isn’t to Blame for High Cost of Living

In a recent op-ed for the Toronto Sun, Dr. Sylvain Charlebois, director of the agrifoods...

Monday, March 6, 2023, 02:21:00 PM

Loblaw Sees Earnings Soar 12% As Grocery Prices Continue To Rise

Loblaw Companies (TSX: L) reported its third-quarter financial results, which showed robust growth in both earnings...

Thursday, November 16, 2023, 12:12:00 PM

Loblaw Q2 2025 Earnings Jumped 56%, Largely Thanks To Accounting

Loblaw Companies (TSX: L) posted Q2 2025 revenue of $14.67 billion, up 5.2% YoY and...

Thursday, July 24, 2025, 11:38:00 AM