Ladysmith’s Broken Coast Cannabis sells for $230 million
A Ladysmith medical marijuana company has been bought out. Aphria, an Ontario marijuana producer, has agreed to pay $230 million for Broken Coast Cannabis.
The company’s three co-founders will be staying with the company. They’re being paid $10 million each with the rest of the payment coming in the form of Aphria shares.
The deal makes Aphria Canada’s largest, based on earnings, licenced marijuana grower. It also includes immediate approval to begin building a $20 million expansion of Broken Coast’s facility. Aphria’s deal to buy Broken Coast is expected to close by the end of the month.