Tidal Royalty completed the acquisition of MichiCann Medical for $653m.

Tidal Royalty, a provider of royalty financing to the legal cannabis industry, completed the acquisition of MichiCann Medical, a producer and distributor of cannabis, for $653m. As a result of the transaction, Tidal Royalty has changed its name to “Red White & Bloom Brands” and MichiCann is now a wholly-owned subsidiary of Tidal. “We have worked diligently to build RWB over the last 2 years in the face of significant headwinds in the cannabis industry. Despite said challenges, our industry leading team of professionals has been able to quickly establish a significant presence in the United States. The closing of this transaction was the next step in our evolution and has bolstered our balance sheet, added Massachusetts assets to our footprint, and has enabled us to become a reporting issuer,” Brad Rogers, MichiCann CEO & Director.