Grow, Gift, Repair

Canada is coming!

Sira Naturals and the other companies with operations in Nevada and Colorado will create an “anchor portfolio” for Cannabis Strategies Acquisition Corp. (CSAC), a Toronto-based special purpose acquisition corporation that went public last December.

Sira joins Nevada firms Washoe Wellness, The Canopy NV, LivFree Wellness and CannaPunch of Nevada in joining the Canadian public weed market.

In total, CSAC is paying $76 million in U.S. money to acquire the five firms and is issuing about 7.6 million Class B shares and $43.7 million in promissory notes.

The announcement did not indicate when the transaction would close.

Sira could be the most profitable business acquired by CSAC, as its target revenue for 2019 is about $90 million, more than double the target revenue for the second-highest projected earner of the group.

In total, CSAC is expecting revenues of at least $383 million from the businesses in 2019.