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Paris-based cannabis company to be bought in $173M deal

The Canadian Press

Aleafia Health Inc. announced a friendly deal to acquire Emblem Corp. in an all-share transaction valued at $173.2 million that will combine the companies’ two chains of medical cannabis clinics.

It is expected that existing Emblem shareholders will own approximately a 41.0 per cent stake in the combined company after the transaction, which values Emblem shares at about $1.21 based on closing stock prices for both companies on Tuesday.

The companies say the combination creates a network with access to 40 medical clinics and education centres under the Canabo Medical and GrowWise Health banners.

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