Simply Solventless Concentrates Ltd. is the buyer of CanadaBis Capital Inc. or Stigma Grow, formerly TSXV CANB. The deal was valued at C$16 Million. Together, the companies expect to save C$5,000,000 per year.
According to estimates, the combined entity will rank in second place and fifth position respectively for Canadian prerolls and concentrates. Quebec. SSC is buying all assets of CanadaBis, which includes but are not limited to: provincial product listings; intellectual property; physical assets such as facility equipment and security systems. As of The 31st of October, 2024CanadaBis’ net assets were valued at C8 4 million dollars.
CanadaBis reports C$30.4 Million The audited 12 months ended August 31, 2024 The C word$ 38.4 Million Annualized for unaudited 3 months ended 31 October 2024 CanadaBis generated positive EBITDA for 13 out of 13 quarters and net profit profitability in 11 of 12 of its last twelve quarters.
Jeff Swainson, SSC’s President & CEO said in a statement, “This Transaction is a true win-win for all parties, with CanadaBis garnering a premium of 78% to their 30-day VWAP while SSC increases Q2 2025 proforma annualized revenue and normalized net income per share by approximately 65% and 44%, respectively.” Swainson went on to say: “Through their combined experience both SSC & CanadaBis developed competitive advantages for commercialization and market penetration. They also have lean operations and acquired accretive assets. We will be able to achieve continued, sustainable results as we continue our journey together.”
SSC’s estimated revenue in the fourth-quarter of 2024 is C$47,2 Million. SSC achieved normalized net income profit for eight of its last eight quarters. It also generated positive EBITDA over the nine most recent quarters.
Travis McIntyreCanadaBis President and CEO, McIntyre, will take over the position of Chief Operating Officer of SSC upon closing. McIntyre leaves his position with CanadaBis. Murray BrownSSC’s existing COO assumes the role as Chief Integrations officer at closing. The focus will be on acquisition integration, reorganization, and corporate service.
McIntyre said: CanadaBis achieved positive EBITDA for thirteen consecutive quarters, and profitability of net income in 11 out of 12 quarters. Our board has concluded that despite our successful operations, industry consolidation and critical masses are required in order to achieve sustainable competitive advantages.
CanadaBis has also announced that it will be launching a private placement financing for unsecured convertible bonds of C$2,500.$1,000 Per Debenture for Gross Proceeds of Up to C$2.5 million.