Yooma Wellness Inc (CSE:YOOM, OTC:LVVEF, AQSE:YOOM) said it had acquired N8 Essentials, manufacturer and seller of products that incorporate CBD, cannabinoids and other functional ingredients, in a deal that values N8 at US$850,000 less working capital adjustments.
The transaction, which was completed using Yooma’s subsidiary Socati, is part of the company’s blueprint to build a global CBD and wellness ‘platform’, said chairman Lorne Abony.
"This acquisition satisfies our objectives of increasing Yooma's United States presence as well as achieving vertical integration by adding downstream manufacturing capabilities to Socati,” he added.
Last week the company said it was buying Tokyo-based retailer Vertex Co for US$12mln adding new products and giving it a foothold in Japan.