Ragusa, Italy – May 19, 2021 – Canapar Corp. (“Canapar”) is pleased to announce that it has finalized an agreement to be acquired by RAMM Pharma Corp. (including its wholly owned subsidiaries, “RAMM”) (CSE: RAMM), a leader in plant-derived cannabinoid pharmaceutical and other cannabis-based products.
The transaction is the final step of a process which started in December 2020 with RAMM’s acquisition of 49% of the shares in Canapar Corp. from its former largest shareholder RIV Capital Inc. (formerly Canopy Rivers Inc.) (TSX: RIV) (OTC: CNPOF). This places Canapar, one of the largest vertically integrated cannabis companies in Europe, in a strategic position to compete on the international hemp market while continuing to expand its European presence.
“The merger between RAMM and Canapar creates a multinational partnership, with a presence in Europe, Canada and Latin America, that has a strong financial and commercial structure necessary to compete in the international market of cannabis extraction,” said Sergio Martines, CEO, Canapar Corp. “For Italy, and especially for Sicily, this is a rare opportunity to taking a leading role in an emerging industry, creating job opportunities and driving economic growth.
“We are expanding our product lines and looking at the veterinary market, especially after the first drug with CBD for pets, Nettavet 10%, recently obtained federal approval and registration as a veterinary drug from the Uruguayan government. We also plan to distribute our Marishanti brand in South America, establishing it as a truly international brand. Finally, our high-performance extraction plant in Ragusa is in the final stages of commissioning and soon will begin to extract CBD to meet the demands of the cosmetic, nutraceutical, and in the future, the pharmaceutical and veterinary markets,” continued Martines.
“Thanks to the best practices of each company, this partnership consolidates the presence of Canapar in Europe and the rest of the world, establishing itself as one of the most important distributors of active ingredients derived from cannabis. In the near future, we hope to receive certain and unequivocal signals from the local and national authorities to enable us to operate with transparency in a clear regulatory framework,” concludes Martines.
“This is a transformational acquisition for Ramm as it further strengthens our presence as a leader in the European cannabis market with a prominent and differentiated global cannabis platform”, stated Jack Burnett, Chief Executive Officer, RAMM.
About Canapar Corp.
Canapar with its wholly owned subsidiaries in Europe is an Italy-based manufacturer and processor of CBD oil and isolates. Canapar has secured more than 1,000 hectares of hemp through its outsource farming model and entered into an academic partnership with the University of Catania’s Department of Agriculture. Canapar is also advancing its CBD extraction and processing capabilities through its new facility and is expecting to transform 600 metric tons of hemp biomass annually into CBD isolates and derivative products for distribution in Europe. With demand for products that contain natural active ingredients derived from plant extracts increasing significantly, Canapar plans on developing CBD-infused cosmetics, skincare and beauty products for the Italian cosmetics market, which is the fourth largest such market in Europe, as well as the global market, which provides strong demand for “Made in Italy” brands.
About RAMM Pharma Corp.
Led by renowned cannabis industry experts and backed by successful pioneers in the cannabis sector, RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. Founded in 1988 in Montevideo, Uruguay, the Company is a well established pharmaceutical and medical product business that has developed medically registered and approved plant derived cannabinoid pharmaceutical products. The Company currently has multiple approved and registered products that have been authorized for sale in Uruguay and compassionate use in several Latin American countries, as well as a pipeline of new products in various stages of approval and development produced in the Company’s state of the art GMP certified cannabis formulation facility. The Company operates a successful pharmaceutical, cosmetic and nutraceutical product development and medical services business which has been servicing the local market for 30 years.