Cannara Biotech Completes Medican Organic Buy; Appoints Nicholas Sosiak as its COO
Cannara Biotech (LOVE.TO) on Wednesday closed a deal to acquire Medican Organic, a unit of BZAM Ltd., for $2.8 million.This acquisition completes its prior acquisition of its Valleyfield cultivation and manufacturing facility, purchased from Medican on June 8, 2021, it added.The company also appointed Nicholas Sosiak as its Chief Operating Officer, effective April 23. Sosiak, who has served as the company's Chief Financial Officer since 2020, will transition fully into his new role while the company conducts a search for his successor as CFO, it said. Sosiak will act as the company's interim CFO throughout the search.Shares of the company were last seen up $0.03 to $1.78 on the Toronto Stock Exchange.Price: $1.78, Change: $+0.03, Percent Change: +1.71%
