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News analysis

22nd Century integrates CBD company to grow its hemp/cannabis franchise faster

Written by || 10th June 2022 || News analysis | Cannabinoids | GeographiesNevada New York North America United States

US firm 22nd Century has begun integration with GVB Biopharma, one of the largest CBD suppliers globally, as part of a plan to grow its hemp/cannabis franchise rapidly.

It exchanged stock worth around $65m for control of the Las Vegas–based CBD company in April. The company added that the aggregate consideration for the transaction consisted of the assumption of approximately $4.5m of debt, GVB’s closing costs, and the issuance to GVB of 32.9m unregistered shares of 22nd Century common stock.

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Antonia Di Lorenzo

Assistant news editor/senior reporter
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.

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