Embark Health Inc. Announces Acquisition Agreement with Axiomm Technologies Ltd.

Embark Health Inc. Announces Acquisition Agreement with Axiomm Technologies Ltd.

Embark Health Inc.  ("Embark" or the "Company"), and Axiomm Technologies Ltd. ("Axiomm") are pleased to announce that they have entered into a definitive agreement (the "Agreement") for a complete acquisition of Axiomm by Embark on a share for share basis.

 

"We are pleased to add Axiomm’s suite of proven technologies for the mass production and distribution of 2.0 and 3.0 products including cannabis-infused beverages, topicals, edibles and water soluble powders.  These will further enhance our portfolio of products and formulations" said Luc C. Duchesne, Embark’s CEO. "We are proud to be partnering with Axiomm as a producer of advanced technologies to add a significant competitive advantage in producing the quality 2.0 and 3.0 products cannabis consumers demand and expect from Embark."

 

"Partnering with Embark enables the rapid release of a differentiated and diverse suite of products to a broader market and on a larger scale than would otherwise be possible." said Curtis Leifso, Axiomm’s CEO. "The extraction and marketing capabilities of Embark provide the platform to continue deploying our product lines in Canada and internationally.”

 

Following the completion of the acquisition of Axiomm, it is intended that Axiomm will become a wholly owned subsidiary of Embark.  Axiomm staff will operate a 4600 ft2 production facility in Calgary AB where Axiomm will continue to produce cannabinoid-free formulations for its Tennessee joint venture as well as immediately supply formulations for Embark’s Delta facility.  Axiomm will also continue its ongoing R&D program at its Calgary lab to meet emerging market demands.  Embark will add cannabinoids to the formulations provided by Axiomm to distribute finished infused products to its network of clients in Canada and abroad as well as service tolling and white label clients.


Original content on https://www.embarkhealthinc.com/news-summary/axiomm