The acquisition is effective Monday, Sept. 14. Under the deal, RWB acquired all Platinum Vape’s issued and outstanding equity interests through its fully-owned subsidiary.
The cash and stock transaction is valued at up to $35 million.
The price tag includes $7 million in cash paid at closing, $13 million in cash payable in three months following the closing, and a US$15 million convertible promissory note.
In addition, the cannabis conglomerate could secure an …