Beleave inc (CSE: BE) announced after market hours today that it had signed a non-binding letter of intent to combine with that of TerraFarma Inc. Details are currently scarce on the matter. The two entities have entered a 30 day discussion period related to the potential transaction.
TerraFarma Inc is a currently private licensed producer located in Jarvis, Ontario. The firm is licensed with Health Canada through its wholly owned subsidiary Thrive Cannabis. The firm currently holds production, sales and outdoor cultivation licenses at its facility. The vertically integrated operator is focused on providing premium and ultra premium cannabis products to the market. TerraFarma formally acquired Thrive Cannabis in January 2019.
It is believed that the operator is currently working on a site that is over 170 acres in size, with greenhouse facilities available in excess of 28 acres. The original facility was licensed in March 2018, and consisted of a 10,000 square foot production area.
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Beleave Inc is currently trading at a price of $0.07 on the Canadian Securities Exchange.
Information for this briefing was found via Sedar, Thrive Cannabis, and Beleave Inc. 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.
