Cann-Is Capital to buy all shares of CWE European Holdings

Cann-Is Capital Corp., a Toronto-based firm that helps cannabis businesses raise capital, has bought all outstanding equity of CWE European Holdings, a privately held Canadian holding company that sells CBD in German-speaking countries in Europe.

Cann-Is Capital did not disclose a purchase amount.

CWE, based in Calgary, Alberta, owns and operates six stores in Germany through DCI GmbH, a wholly owned German subsidiary, and one store in Luxembourg through CBD Wellness Europe. The stores operate under the brand name Hanf and sell hemp-derived products, including CBD.

According to Cann-Is, CWE had 2018 net revenue of about 1.1 million Canadian dollars ($860,000), with a net income of CA$203,000. Cann-Is Capital trades on the TSX Venture Exchange as NIS.P.

To read more about the acquisition, click here.