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Delta 9 Announces Closing Of Transformative Retail Acquisition, $32 Million Credit Facilities And $10 Million Strategic Financing

Mar 31, 2022•over 3 years ago

Acquiring Company

Delta 9 Cannabis

Acquired Company

Retail

Food And BeverageConsumer GoodsHealth CareCommunity And Lifestyle

Description

Delta 9 Cannabis Inc. (TSX: DN) (OTCQX: DLTNF) ("Delta 9" or “The Company”) is pleased to announce that it has closed a transaction with Uncle Sam’s Cannabis Ltd. (“Uncle Sam”) and Wissam El Annan to acquire all or substantially all of Uncle Sam’s assets relating to the operation of seventeen retail cannabis stores in Alberta (the “Uncle Sam Transaction”). The Company will also be closing it’s previously announced $32 million in credit facilities (the “Credit Facilities”) from Connect First Credit Union Ltd. (“connectFirst”).

Company Information

Company

Delta 9 Cannabis

About

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9's shares trade on the Toronto Stock Exchange under the symbol "DN" and on the OTCQX under the symbol "DLTNF". For more information, please visit www.delta9.ca.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed