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Ottawa cannabis firm plans to buy 20 percent stake in Vancouver-based Anandia Laboratories

Kirk Smol by Kirk Smol
November 19, 2024
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B.C. and local governments task force on recreational marijuana goes to work this week

As the Trudeau government prepares to introduce legislation to legalize marijuana, an Ottawa-based company plans to buy a stake in a Vancouver-based lab company.

CannaRoyalty Corp. has announced that it has signed a letter of intent to pay $4 million in cash and common shares for 20 percent of Anandia Laboratories Inc.

Anandia is licensed by the federal government to evaluate products for clients licensed under the Access to Cannabis for Medical Purposes Regulations.

This dealer’s licence also permits Anandia to ‘cultivate cannabis for breeding and strain improvement’, according to a news release issued by both companies.

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“We have elected to partner with CannaRoyalty given their expertise in extraction, post-processing and the development of proprietary formulations,’ Anandia CEO Jonathan Page said in the release. ‘The recent Task Force report described analytical testing as the ‘cornerstone’ for ensuring safe and effective products in the future cannabis market. Building on our analytical chemistry expertise, our objective is to leverage our Dealers License to build a national, best-in-class cannabis extraction and processing facility.’

CannaRoyalty Corp. documents mention that Lustig is a resident of West Vancouver who worked for various securities firms before founding Cannabis Royalties & Holdings Corp. as a private company in early 2015. In December, the company and a numbered company engineered a reverse takeover of publicly traded Bonanza Blue Corp., becoming CannaRoyalty Corp.

‘Our partnership with Anandia Labs exemplifies our approach of acquiring interests in high-value, strategic assets in the North American cannabis sector,’ Lustig said in the news release. ‘As the only independent Canadian testing facility specializing exclusively in cannabis, Anandia Labs is clearly well positioned given how crucial independent testing of cannabis products is to the future of the cannabis sector in Canada. In addition, the value that we expect to help create through Anandia Labs’ Dealers License for the extraction of derivatives—together with Anandia’s impressive patent portfolio of genetics—gives CannaRoyalty shareholders exciting exposure to rapid and sustainable growth areas in Canada’s dynamic cannabis sector.’

Kirk Smol

Kirk Smol

Kirk's journey through the digital realm began with lines of code and algorithms dancing in his dreams. Armed with a keyboard and an insatiable curiosity, he embarked on the path of software engineering. However, fate had a smoky twist in store for him. As the ones and zeros swirled around him, Kirk had an epiphany – he realized that he was more interested in the highs and lows of the cannabis industry than debugging lines of code. With a leap of faith that would make a bungee jumper blush, he bid farewell to the world of semicolons and database queries and embraced the intoxicating allure of cannabis journalism. Now, Kirk finds himself navigating a different kind of network, one that's all about buds, trichomes, and terpenes. Armed with a pen that's mightier than a vaporizer and a keen eye for detail, he's on a mission to unravel the mysteries of the green world.

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