Australis and CannaRoyalty Corp (OTCMKTS:CNNRF) today signed a letter of intent. According to the terms of this agreement, Australis will buy 2,200,000 common stock shares in Wagner Dimas. Cannroy Delaware is the subsidiary of CannaRoyalty Corp that will be selling the equity stake in question.
A close outlook
The CEO of CannaRoyalty Marc Lustig says that their team has spent the past one year in the set up of a platform that will provide a wide range of solutions. Lustig promises that they will be serving the California market with some top quality growth brands adding that they already have the plan they will work with.
Despite coming across a series of challenges, CannaRoyalty takes pride in the fact that it has managed to execute its plan. Shareholders applauded the company for its efforts because they were getting significant returns. Asides from that, this business has also obtained enough non-dilutive capital which will help finance its California build-out.
Focusing into the future
Alta Supply, a subsidiary of CannaRoyalty, will soon merge its operations with those of RVR Distribution. The President of Alta Supply Sadie Reyes will from August oversee RVR’S nationwide distribution efforts. The official rose to the rank of RVR’s President recently and he promises to fulfill his mandate in the best way possible.
Alta Supply hopes that through the transfer of inventory and accounts it will succeed at leveraging RVR’s distribution infrastructure. CannaRoyalty has already gotten into a definitive agreement which it says gives it the go-ahead and close the merger of Alta Supply with RVR. That will consequently be in line with the customary closing conditions.
Lustig says CannaRoyalty understands the real essence of distributors in California’s regulated cannabis marketplace. They serve as the best catalysts and he adds that it is crucial for them to establish contact with a vast majority of licensed dispensaries. The realization of higher revenues can only be possible if they will distribute higher volumes of cannabis brands and products.
It in January California transitioned into the full adult-use market. Alta and RVR are some of the top market performers in term of the generated revenues. The other thing is that 420 Wellness will soon open a new dispensary in the city of Calgary. It has completed all the plans and right now it only awaits Alberta Gaming and Liquor Commission approval.