Biotech company Branded Legacy, Inc. (OTC.PK: BLEG) announced on Tuesday that it has acquired Florida-based MariJ Pharmaceuticals, Inc., which specializes in the certified organic mobile extraction and production of CBD from industrial hemp.
What Happened
The deal encompasses two separate companies under the MariJ umbrella, each contributing unique strengths and licensing support for market presence to Branded Legacy's growing portfolio, the company said in a press release.
The deal includes two specialized trucks - an International and a Freightliner - engineered to enhance operational flexibility and reach.
The acquisition is a combination of preferred series stock and cash. The shares issued will have a buyback option as well as a lockout/leak agreement. The closing of the acquisition was consummated on Monday, Dec. 4, 2023.
See also: Branded Legacy Shares Trading Higher On Getting 'One Step Closer To Full Vertical Integration'
Why It Matters
The deal significantly expands ...