Vencanna Announces Closing the Acquisition of The Cannavative Group and the Post-Transaction Management and Board of Directors
(via TheNewswire)
May 1, 2024 – Calgary, Alberta – TheNewswire – Vencanna Ventures Inc. (the “Company” or “Vencanna“) (CSE:VENI and OTCQB:TPPRF) is pleased to announce that it has closed its previously announced acquisition of The Cannavative Group (“Cannavative”).
The acquisition of Cannavative, coupled with our ongoing developments in New Jersey, positions Vencanna’s shareholders opportunities in the U.S. cannabis market. The landscape of the U.S. cannabis market, including cannabis reform, has been evolving. On August 29, 2023, Human Health Services (“HHS“) forwarded a letter to the U.S. Drug Enforcement Agency (the “DEA“) recommending the reclassification of cannabis from Schedule I to Schedule III. This proposed change would eliminate the application of IRC 280E, a tax prov...