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Australian-based cannabis company Cannim has reached an agreement for an all-script merger
\nwith Medisun, one of Canada\u2019s leading large-scale privately owned cultivators.
\nOnce the merger is completed, Cannim will operate across four continents, including five of the
\nlargest cannabis markets and the two key legal adult-use cannabis markets of Canada and the
\nUSA.<\/p>\n
The merged company will continue under the Cannim name and remain headquartered in Sydney.
\nCannim Chair John Worton described the merger as a momentous step for the companies.
\n\u201cMedisun\u2019s quality, large scale cultivation expertise complements Cannim\u2019s strengths in regulatory
\ncompliance, operations and the establishment of channels to market. Uniting the two companies
\ngreatly increases our ability to source and supply quality product to key international markets.
\n\u201cCrucially, the merger will introduce Cannim to the burgeoning legal adult-use segment, making it
\nthe leading Australian company in this space.\u201d<\/p>\n
The merged group is projecting pro-forma revenue of $12 million for Q4:2021, representing an
\nannualised run rate post-merger of around $48m, and positioning Cannim as one of the largest
\ncannabis companies by revenue in Australia.
\nBased in south-western Ontario, Medisun clones 1 million cannabis plants per year, and produces
\nup to 1000 kg of medicinal-quality cannabis each week from a five-hectare, climate-controlled
\nfacility.<\/p>\n
Medisun Chair Friedwart Barfod, based in the Netherlands, will join Cannim\u2019s board alongside
\nanother recent appointee, Dr Costa Boyages, who is on the board of the Australian Medical
\nAssociation (NSW) and the NSW Rural Doctors Network. Completing the board of the merged
\nentity is New York-based Steve Ezzes, who served as a Director of OzEmail and Nick
\nSelvaratnam, formerly the head of Credit Suisse equity capital markets in Australia.
\nMedisun\u2019s Chief Operations Officer, Laust Dam, who has over 30 years\u2019 experience in intensive
\nagriculture, will join Cannim\u2019s C-suite as Chief Cultivation Officer and oversee the continued
\ndevelopment of Cannim\u2019s two 500-acre farms in Australia and Jamaica.<\/p>\n
Mr Barfod said that Cannim\u2019s management and capital markets expertise, coupled with its
\ndistribution capabilities provided a compelling alignment for Medisun\u2019s board.
\n\u201cBoth companies prioritise consistent supply of premium quality products at cost-effective pricing,
\nand the potential scale of our combined operations was a key factor in our decision-making.”
\nMr Worton said that the merger would also create a platform to achieve further growth through
\npartnership activity.<\/p>\n
\u201cCombined with other recent corporate transactions in the USA and Germany, Cannim\u2019s market
\npenetration and new scale of operation will create an even more attractive option for organisations
\nseeking commercial partnerships in the global cannabis industry, health and clinic groups, as well
\nas corporates seeking to enter the market or expand their presence.\u201d<\/p>\n
Stuart Marsh, Cannim\u2019s Chief Commercial Officer added, \u201cThe company has already started the
\nregulatory and compliance processes to bring Medisun\u2019s output into Cannim\u2019s international sales
\nchannels, complementing Cannim\u2019s premium Jamaican and Australian-sourced Terpene Rich
\nBuds.<\/p>\n
\u201cSignificant orders for Medisun products have already been secured and we expect the first
\nshipments to be delivered in the first quarter of 2022.\u201d<\/p>\n
Media contact: Stuart Marsh (Cannim)
\nstuart@cannim.com
\n+61 410 308 841<\/p>\n
Jeff Young (Medisun)
\njeff.young@medisun.ca
\n+1 905 4641922<\/p>\n
About Cannim<\/strong> Cannim has invested in farms, EU-GMP (Good Manufacturing Practice)-compliant <\/em> The worldwide cannabis market is still in its infancy, with total market value estimated at US$20bn <\/em> About Medisun<\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":" Australian-based cannabis company Cannim has reached an agreement for an all-script merger with Medisun, one of Canada\u2019s leading large-scale privately owned cultivators. Once the merger is…<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[54,49],"tags":[47],"class_list":{"0":"post-10578","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-global-cannabis-market","7":"category-updates","8":"tag-media-spotlight"},"_links":{"self":[{"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/posts\/10578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/comments?post=10578"}],"version-history":[{"count":1,"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/posts\/10578\/revisions"}],"predecessor-version":[{"id":10579,"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/posts\/10578\/revisions\/10579"}],"wp:attachment":[{"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/media?parent=10578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/categories?post=10578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannim.com\/wp-json\/wp\/v2\/tags?post=10578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEstablished in 2017, Cannim was founded on the vision of bringing the benefits of medicinal <\/em>
\ncannabis to the world, moving the trade from the darkness into the light\u00a9. This long-term <\/em>
\nvision is integral to Cannim\u2019s approach to improving its consumers\u2019 health and wellness –<\/em>
\ndelivering \u2018Better Balanced Bodies\u2019 \u00a9 – and establishing world-leading medicinal and <\/em>
\nwellness cannabis brands.<\/em><\/p>\n
\nproduction facilities, and research programs in Jamaica and Australia, utilising expertise in <\/em>
\nmajor global markets including Israel, Jamaica, the USA, the UK and Australia. It operates <\/em>
\nalongside an international network of EU GMP manufacturers and channels to market. <\/em>
\nCannim\u2019s circular integrated business is built on the three key pillars of Safety, Science and <\/em>
\nScale, and is focused on consistently and reliably delivering premium products to patients <\/em>
\naround the world.<\/em><\/p>\n
\nin 2020, and projected to grow to US$103.9bn by 2024. The Australian Government has estimated <\/em>
\nthat the local medicinal cannabis industry could grow into a sector worth more than $1 billion by <\/em>
\n2029.<\/em><\/p>\n
\nLocated in Southwestern Ontario, an area known for its rich agricultural heritage, Medisun\u2019s GACP <\/em>
\ncertified greenhouse facility boasts 13 acres of climate controlled grow area, allowing us to cultivate <\/em>
\nconsistently high quality, medical-grade cannabis year-round.<\/em>
\nWith 5-6 crop cycles per year and weekly large volume harvests, our customers can be certain that their <\/em>
\nvolume and quality demands will be met on time and in full. Through our dedication to sustainability, <\/em>
\ninnovation and quality, we’re elevating growing standards each and every day<\/em><\/p>\n