TORONTO--(BUSINESS WIRE)--DionyMed Brands Inc. (CSE: DYME), a multi-state cannabis brands, distribution and delivery platform, today announced it has signed a binding term sheet to acquire Pioneer Valley Extracts, LLC, a manufacturer and emerging cannabis brand in Massachusetts.
Currently, DionyMed owns and sells its award-winning brand family, including the Winberry Farms concentrates and vape cartridges throughout California, Nevada and Oregon. The acquisition of Pioneer Valley Extracts expands the Company’s national footprint in Massachusetts, the fast growing and first recreational cannabis market on the East Coast. Consideration for the acquisition is not material to the Company and, therefore, terms for the agreement have not been disclosed.
Edward Fields, CEO of DionyMed, commented, “We are excited to bring Pioneer Valley Extracts onto the DionyMed platform while entering one of the most dynamic cannabis markets in the U.S. The Massachusetts market is poised to become one of the largest recreational markets in the U.S. and this acquisition is the right launch vehicle to bring the award winning DionyMed brand portfolio to Massachusetts consumers.”
David Cichocki, CEO of Pioneer Valley Extracts, said: “The Pioneer Valley team is excited to become a part of the DionyMed story with access to the capital, leadership and the deep operational capabilities required to become a leader in the Massachusetts market.”
About DionyMed
Founded in 2017, DionyMed is a multi-state cannabis brands, distribution and delivery platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles. DionyMed serves more than 700 dispensaries and completes over 40,000 Direct-To-Consumer deliveries each month with its growing portfolio of products and brands. Learn more at www.DionyMed.com and follow @DYME_Inc on Twitter and LinkedIn.
About Pioneer Valley Extracts
Based in Massachusetts, Pioneer Valley Extracts believes in crafting the perfect extract in its purest form. All of Pioneer Valley Extracts CBD-infused products and extracts are organic, full spectrum and robust in CBD to allow your body to maximize on the beneficial cannabinoids, terpenes and flavonoids.
