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Cannabis shake up: Cannasouth to merge with Eqalis

The proposed deal will require investors from both companies to agree on $9m capital raise to fund new entity’s working capital.

Cannasouth growing facility.

NZX-listed medicinal cannabis company Cannasouth has entered into a “prospective merger arrangement” with Bay of Plenty cannabis grower Eqalis Group.

While the deal has been called a ‘merger of equals’, Cannasouth would purchase 100% of Eqalis’s shares for $48.8 million via the issue of

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Nicholas Pointon Mon, 19 Dec 2022
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Cannabis shake up: Cannasouth to merge with Eqalis
Investment,
97169
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