Calgary-based Simply Solventless Concentrates Ltd. (CVE: HASH) will be boosting its annual revenue significantly by acquiring the pre-roll manufacturer ANC Solutions.
The extract producer announced the C$10-million-dollar cash and stock deal on Thursday.
Edmonton’s ANC rakes in approximately C$3.6 million in net income per annum. The joint roller claims it can produce up to five million pre-rolls per month.
“ANC holds significant intellectual property, some of which is patented, and they have garnered industry-wide respect for their execution ability,” Simply Solventless President Jeff Swainson said.
The expert joint twister manufactures traditional, cigarette and blunt-style doobies along with infused pre-rolls. ANC was founded in 2017 and started producing its reefer cigarettes in September 2020.
Simply Solventless enhanced its stature in the infused pre-roll market earlier this month and in January too through the acquisition of CannMart and Lamplighter.
ANC’s four styles. Image credit: ANC Solutions
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Astro Lab heads for Winnipeg
Simply Solventless’s extract brand will be joining a plethora of other marijuana operators at Manitoba’s Token Tuesday cannabis show on Oct. 8.
This prairie networking event will be coming to Regina in November too.
“Manitoba and Saskatchewan are often overlooked for cannabis events, and Token Tuesday creates a space for the industry to get together and celebrate,” BZAM Ltd. (OTCMKTS: BZAMF) sales manager Hayley Dobson says.
Others on the list of 33 brands that will be joining Astro Lab include MTL Cannabis, Tilray Brands Inc (TSE: TLRY) and Western Cannabis.
“The upbeat atmosphere, music, swag and amazing food is just icing on the cake,” Jameson Mills, a field sales manager for Tilray’s Great North Distributors brand, said. “If you haven’t participated in this event yet, you are missing out!”
rowan@mugglehead.com
