SOL Global designates $6.5 million to acquire multiple cannabis companies

SOL Global Investments Corp. (CSE:SOL (OTCPK:SOLCF) ) (Frankfurt:9SB) has assigned a $6.5 million capital infusion to CannCure Investments Inc. (“CannCure“) in order to purchase multiple North American cannabis companies.

The $6.5 Million dollar allotment will be used by CannCure to progress binding purchase agreements already in place.

The agreements would allow CannCure to acquire 100% of MCP Wellness, which owns the rights to two Michigan cannabis cultivation licenses, a Michigan cannabis processing license, and three fully licensed cannabis provisioning centers in Michigan (with a fourth provisioning center scheduled to open in Ann Arbor in July 2019), and nine additional municipally-approved provisioning centers that are under development.

CannCure will also acquire 100% of Northern Emeralds, the Humboldt County, California based cannabis cultivator. Northern Emeralds boasts award-winning flower strains including “Titan OG“, “Sapphire Cush” and “Durban Poison.”

   

CannCure would also acquire 100% of Three Habitat Holdings, which owns and operates One Plant dispensaries in California.

According to reports CannCure will combine these acquisitions into one multistate operator with vertically integrated operations in three states and approximately 46 retail locations in operation by the end of 2020.

“SOL’s US$6.5 million investment into CannCure is to continue strengthening our foundation and positioning the company as a leader in the dominant markets of Florida, Michigan, and California,” said Andy DeFrancesco, SOL Global’s Chairman and Chief Investment Officer. “CannCure’s expansion is an integral part of SOL Global’s overall strategy and our goal to dominate all aspects of the legal cannabis, hemp and CBD markets here in North America and Europe.”