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Weekend Unlimited completes purchase of 20% stake in California's Canna Candys and Canna Medibles

Under the September agreement, the cannabis company paid US$360,000 in cash and issued 5.1 million shares

Photo of Paul Chu
Paul Chu was appointed CEO of Weekend Unlimited last month

Weekend Unlimited Inc (CSE:YOLO) (OTCMKTS:WKULF) said Thursday that it has completed on the purchase of the remaining 20% of California's Canna Candys and Canna Medibles that it did not previously own.

Under the September agreement, the Vancouver-based company paid US$360,000 in cash and issued 5.1 million shares.

READ: Weekend Unlimited will be steered by new CEO Paul Chu to grow acquired brands in Canada, Jamaica and the US

Canna Candys is in the final steps of beginning operations from a new licensed facility in Adelanto, California, according to Weekend Unlimited.

“The operations team is experienced, having built distribution in Southern California to 380 retail stores, and is expecting additional sales growth this year,” Weekend Unlimited CEO Paul Chu said in a statement.

Shares of Weekend Unlimited fetched C$0.11 in Canadian trading and US$0.07 on the OTC Markets on Wednesday.

Chu, who has more than 25 years in leadership roles across a variety of industries, was appointed CEO last month.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

Quick facts: Weekend Unlimited Industries Inc.

Price: 0.215 CAD

CSE:POT
Market: CSE
Market Cap: $2.46 m
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