TORONTO–(BUSINESS WIRE)–DionyMed Brands Inc. (“DionyMed” or “Company”) (CSE: DYME), a multi-state cannabis brands, distribution and delivery platform, today announced it has signed a binding term sheet to acquire Pioneer Valley Extracts, LLC, a manufacturer and emerging cannabis brand in Massachusetts.
“The Pioneer Valley team is excited to become a part of the DionyMed story with access to the capital, leadership and the deep operational capabilities required to become a leader in the Massachusetts market.”
Currently, DionyMed owns and sells its award-winning brand family, including the Winberry Farms concentrates and vape cartridges throughout California, Nevada and Oregon. The acquisition of Pioneer Valley Extracts expands the Company’s national footprint in Massachusetts, the fast growing and first recreational cannabis market on the East Coast. Consideration for the acquisition is not material to the Company and, therefore, terms for the agreement have not been disclosed.
Edward Fields, CEO of DionyMed, commented, “We are excited to bring Pioneer Valley Extracts onto the DionyMed platform while entering one of the most dynamic cannabis markets in the U.S. The Massachusetts market is poised to become one of the largest recreational markets in the U.S. and this acquisition is the right launch vehicle to bring the award winning DionyMed brand portfolio to Massachusetts consumers.”