MediPharm Labs Corp. and VIVO Cannabis Inc. completed their arrangement under section 192 of the Canada Business Corporations Act, with MediPharm acquiring all issued and outstanding shares of VIVO in an all-equity transaction effective April 1, 2023. This move combines two complementary businesses, establishing a leading international medical cannabis entity. The arrangement resulted in the merging of MediPharm’s and VIVO’s diverse cannabis operations, including VIVO’s Beacon Medical in Australia and Germany, Harvest Medicine, and Canna Farms Medical in Canada. This consolidation is expected to enhance direct patient sales, offering a broader product range and improved gross margins. The combined entity anticipates significant revenue and cost synergies, aiming for positive EBITDA between $7M to $9M annually, and forecasts positive cash flow by the first half of 2024. The combined cash position was reported at approximately $26 million as of December 31, 2022. Ownership of the new company is roughly 73.1% by MediPharm’s and 26.9% by VIVO’s former shareholders. Approximately 107,930,964 MediPharm Shares were issued to VIVO shareholders based on a fixed exchange ratio. VIVO has now become a wholly-owned subsidiary of MediPharm, with plans to delist VIVO Shares from the Toronto Stock Exchange around April 4, 2023. Advisors included Hyperion Capital Inc. and Aird & Berlis LLP for MediPharm, and Stoic Advisory Inc., ATB Capital Markets Inc., and Bennett Jones LLP for VIVO.