Tweed Marijuana Inc. or TMI, operator of licensed cannabis producers Tweed Inc. and Tweed Farms Inc., and Bedrocan Cannabis Corp. or Bedrocan Canada said they have entered into a definitive arrangement agreement, for TMI to acquire all issued and outstanding securities of Bedrocan Canada.

TMI said this acquisition marks the beginning of the structured evolution of the Canadian cannabis sector. It is intended that TMI's portfolio of technologies, brands and geographies will continue to expand.

TMI will be renamed at its annual meeting of shareholders to reflect its evolution as a multi-brand holding company.

According to the companies, Tweed and Bedrocan Canada represent distinct market segments that appeal to different consumer needs. To meet market expansion demands, TMI will function as a holding company able to respond to these distinct voices, and will increase its ability to grow market share and diversify client acquisition.

Specifically, the Bedrocan Canada brand will be sustained and further supported in establishing its leadership with the clinical and research communities.

The Bedrocan Canada division will continue to operate separately, though in alignment with the other TMI operating divisions.

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