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News analysis

Cannaray’s Cellular connection creates confusing combination in cannabinoids

Written by || 13th October 2022 || News analysis | GeographiesEurope United Kingdom

Cellular Goods and Cannaray have announced a merger deal that will see Cannaray list itself on the stock exchange through a reverse takeover of Cellular Goods while also splitting off its CBD brands to work under a new subsidiary controlled by Cellular Goods in order for Cannaray to focus on its medical cannabis business.

Cellular Goods will pay £1m in cash to Cannaray for 100% of its subsidiaries Cannaray Brands and Love CBD Health. It will also issue new shares to Cannaray, giving it a 54% stake in Cellular Goods. Depending on further performance-based share payments, this stake could rise higher.

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This article was written by one of CannIntelligence’s international correspondents. We currently employ more than 40 reporters around the world to cover individual cannabis and cannabinoid markets. For a full list, please see our Who We Are page.

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