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  • Icanic Brands (ICAN) has entered into a definitive agreement to acquire De Krown Enterprises
  • De Krown is a California-based cannabis manufacturer and brand owner led by tenured executives from the California cannabis space
  • Icanic will pay 1x revenue based on a 12-month earnout for De Krown through the issuance of common shares
  • The companies expect the transaction to close on or about June 8th, 2021
  • Icanic Brands is a leading cannabis branded products manufacturer based in California and Nevada
  • Icanic Brands (ICAN) is trading flat at $0.315 per share

Icanic Brands (ICAN) has entered into a definitive agreement to acquire De Krown Enterprises.

De Krown is a California-based cannabis manufacturing partner and brand owner led by tenured executives from the California cannabis space.

The company currently manufactures for some of California’s premier cannabis companies, including Pure Beauty, Next Green Wave, Kolas, Dahlia Capital, Cali Innovations, Smoakland, Kush Boys, Tyson Ranch and Viola.

Icanic will pay 1x revenue based on a 12-month earnout for De Krown through the issuance of common shares.

The companies expect the transaction to close on or about June 8th, 2021.

Icanic Brands is a leading cannabis branded products manufacturer based in California and Nevada.

Icanic Brands (ICAN) is trading flat at $0.315 per share as of 9:30 am ET.

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