ICC added that it actively investigating complementary pharmacy related assets within Colombia that may serve as synergistic accompaniments to its acquisition of Farma Swiss.

Under the LOI, International Cannabis will issue AgraFlora a number of common shares in the capital of ICC that equals to $250,000, based upon the five-day variable weighted average price of ICC’s common shares for the five trading sessions prior to the announcement of an agreement.

“This strategic transaction further crystalises our alliance with ICC with regards our collaborative pursuit of the burgeoning global cannabis industry,” said Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora Organics International.

“Monetising our flagship pharmacy operation through a trusted ally permits us to streamline our international cannabis operations while focusing on the continued retrofit of our world-class greenhouse complex in Delta, BC. We are excited to be increasing our shareholdings in ICC as they continue to execute upon their international business mandate and embark upon realising material cash flows,” he added.

“By integrating Farma Swiss’ intuitive pharmacy platform with our 13-hectare cannabis centre of excellence and preeminent catalogue of native Colombian cannabis genetics, ICC will continue to solidify its leadership position within Colombia’s highly competitive medical cannabis marketplace, while streamlining patients access to our unique formulations,” said David Shpilt, Chief Executive Officer, International Cannabis Corp.

The agreement provides International Cannabis with a Latin American brick-and-mortar presence, as well as an existing commercial agreement, further augmenting its tetrahydrocannabinol (THC) and cannabidiol (CBD) cultivation capabilities and logistical infrastructure.

ICC’s addition of a premier downstream Colombian asset conceives a compliant and secure platform for the distribution of medical cannabis and cannabinoid-derived products within Colombia.

Farma Swiss is part of Pure Grow Medicinals S.A.S. It operates a licensed pharmacy strategically situated within a high traffic, commercial neighbourhood of Medellin, Colombia.

The post ICC to buy AgraFlora’s Colombian pharmacy operation first appeared on The Malta Business Weekly.

Dolfin believes that the transaction will help expand and diversify its client base considerably by adding around 300 new wealth management accounts to the business, with an additional $800m of client assets bringing the total of Dolfin’s client assets to more than $3b, the press statement says.

With the transaction going through, Falcon Private Wealth’s staff of 14 is joining the Dolfin team.

“The successful completion of this deal is important for two reasons. Firstly, it adds scale in terms of high-quality clients and wealth managers, in line with our international and emerging market strategy. Secondly, it demonstrates the huge appeal of our platform to demanding private clients and their advisers from many different parts of the world and – crucially – that, after six years in business, we have the management and execution capability to take on substantial new business despite the operational complexity involved,” says Denis Nagy, CEO at Dolfin.

“In my mind, this cements Dolfin’s position as one of London’s fastest-growing wealth management platforms, the natural partner for clients and private bankers who want to get things done. We look forward to welcoming our new team members, and to offer our new clients both continuity in excellent relationship management and an enhanced range of services,” the CEO adds.

Dolfin is the trading name of Dolfin Financial (UK) Ltd, a company authorised and regulated by the Financial Conduct Authority and registered in England and Wales. Some of the services described are provided by Dolfin Asset Services Ltd, a company registered in Malta authorised and regulated by the Malta Financial Services Authority. Dolfin Financial (UK) and Dolfin Asset Services Ltd are subsidiaries of Dolfin Group Ltd, an exempted company organised under the laws of Bermuda.

The post Dolfin buys peer Falcon’s business first appeared on The Malta Business Weekly.