Alchemist signs deal to acquire stake in cannabis software provider Rubikon Blockchain

Alchemist Mining Inc (CSE:AMS) released news Monday that it has inked a deal with Rubikon Blockchain Corp to acquire a 10% stake in the company. 

Rubikon’s flagship software, CertiCraft, is a seed-to-sale product information and compliance tracking platform for the cannabis industry.

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“Rubikon’s Certicraft, is without a doubt the most comprehensive and simple to use Seed-to-Sale application that we have seen, and we have seen quite a few. We are very excited about the opportunity to partner with the team at Rubikon and to seamlessly integrate their unique Seed-to-Sale software and B2B marketplace to the AMS Technology Platform” said Alchemist CEO Paul Mann in a statement. 

Deal details

According to the firm, Alchemist will pay Rubikon C$902,882 in common shares of Alchemist and C$800,000 of further investment terms that will be outlined in the definitive agreement.

The company said completion of the acquisition is subject to regulatory approvals and entry into a definitive agreement.

“Partnering with Alchemist and its existing group of companies makes a lot of sense to us at Rubikon,” said Joel Semczyszyn, CEO of Rubikon Blockchain Corporation. “Their industry reach, technology and business partners, along with their access to public markets, allow us the ability to accelerate our growth in the cannabis sector.”

Contact Katie Lewis at [email protected]

Story by ProactiveInvestors