Welcome

Cannabis Deal Creates Extraction Firm With $100 Million in Sales

June 22, 2021, 8:00 PM

Precision Extraction Corp. and Cascade Sciences LLC, two private companies that make equipment to extract cannabis ingredients, have agreed to combine amid surging demand for marijuana-related products.

The merger, which is an all-equity deal, will create a new entity called Sinclair Scientific with an estimated annual revenue of more than $100 million, Precision Chief Executive Officer Marc Beginin said in a phone interview. Precision’s equipment extracts cannabinoids -- which include marijuana’s active ingredient THC -- from the plants, while Cascade is an expert in processing the ingredients and making the lab equipment needed to turn them into finished products. ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.