Willie Nelson’s Marijuana Brand is Said to be Coming to Canada

Article by Kevin Orland, Bloomberg via Globe and Mail

Willie Nelson’s marijuana brand is said to be coming to Canada KEVIN ORLAND BLOOMBERG NEWS

One of Colorado’s largest recreational pot companies is planning to bring Willie Nelson’s marijuana brand to Canada and go public in Toronto, according to people familiar with the matter.

LivWell Enlightened Health LLC is planning a series of deals that include taking over management of a Calgary-based cannabis firm and a reverse takeover of investment company Target Capital Inc., said the people, who asked to not be identified because the matter isn’t public.

It is also changing its name to LivWell International and striking a side deal that will give it perpetual distribution rights in Canada to Willie’s Reserve, the U.S. country singer’s namesake marijuana brand, they said. The transactions could be announced as soon as Monday.

LivWell is expected to have an enterprise value of about C$300 million ($228 million) after going public, they said. The Denver-based company has about 500 employees and generates about $80 million in annual sales from marijuana growing, processing and retailing, according to its website.

The deals will bring one of the best-known American marijuana brands to Canada, while continuing a trend of U.S. pot companies heading to Toronto to tap investor demand for weed stocks. With U.S. law curbing its ability to expand globally, listing in Canada will give LivWell access to international markets.

Read the full article here.

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