Toronto, ON (June 26, 2020) – The Clinic Network Canada, Inc. (“TCN” or the “Company”) today announced that it has acquired the Canadian medical clinics business unit from Meta Growth Corp. (“META) for total consideration of up to $800,000, of which $500,000 in cash was received on transaction close, with an earn-out of up to $300,000 within 12 months after close paid in common shares of TCNC.
Given the continued expected growth of the Canadian recreational cannabis retail market, particularly within the province of Ontario, META’s strategic focus has shifted from medicinal to recreational cannabis. The divestiture of its Canadian medical clinics to The Clinic Network completes the disposition of its portfolio of medicinal cannabis assets, having recently sold its Australian medicinal cannabis clinics, as well as its Canadian pharmacy business unit.
About The Clinic Network Canada, Inc.
TCNC is a private company based in Toronto and one of the largest providers of out-of-hospital pain management services in Canada. The company owns and operates 17 community-based clinics across Canada, where its team of health professionals work together to help patients using a variety of interdisciplinary approaches to treat chronic pain, including medicinal cannabis. As one of the leading suppliers of medical cannabis services in Canada, TCN has developed an expertise in harm reduction and medicinal cannabis as an alternative to traditional opioids.
For more information on The Clinic Network, visit: theclinicnetwork.ca
The Clinic Network
Kim Wei, Chief Strategy Officer