CBD sexual-health company expands scope with California acquisitions

A Canadian marijuana company that specializes in sexual-health products has acquired two California companies to expand its CBD business in the United States.

Rise Life Science of Toronto closed the deal Tuesday to acquire Cultivate Kind, a marketing company, and Life Bloom Organics, which makes CBD products.

Rise paid $500,000 and issued 2 million common shares to the sellers of the two companies.

The acquisitions also expand Rise’s focus. The company will add brands to treat pain and sleep disorders while starting a new line aimed at sexual dysfunction. All its CBD brands are derived from hemp.

The acquired companies are both in Malibu, California.

Rise trades on the Canadian Securities Exchange as RLSC.