Avicanna Sells Stake In Majority Owned Colombian Subsidiary Sativa Nativa

Avicanna Inc. (OTCQX: AVCNF) (TSX:AVCN) (FSE:0NN) sold its stake in Sativa Nativa S.A.S., which was the company’s secondary majority owned Colombian subsidiary.

The aggregate price paid by the purchaser for the company´s shares in Sativa Nativa was approximately CA$675,000 ($520,000) in addition to a potential premium of CA$130,000 subject to the accomplishment of specific short-term milestones. The transaction allows the company to eliminate redundancies, reduce its operational costs and generate efficiencies across its South American operations by focusing its supply chain …

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