Surterra Wellness Closes Acquisition of New England Treatment Access (NETA) Creates Leading U.S. Cannabis Company; Kevin Fisher, Co-Founder of NETA, Joins Surterra as Executive Director of Operations
Ryan Allway
June 24th, 2019
News
ATLANTA, June 21, 2019 /PRNewswire/ — Surterra Wellness (Surterra), one of the fastest growing health and wellness companies in the United States (U.S.), today announced the close of its acquisition of Massachusetts-based New England Treatment Access (NETA), a premiere, vertically integrated cannabis company. The strategic acquisition fortifies Surterra’s operations excellence, executive leadership team, and regional brand strength. The deal underscores Surterra as a national leader in the cannabis industry.
The Commonwealth of Massachusetts is one of the fastest growing medical and adult cannabis markets in the U.S. This is Surterra’s second acquisition in six months, and reflects Surterra’s approach of bringing operational cannabis companies with established brands, comparable values, and industry-leading standards under the Surterra umbrella. The deal adds a fourth U.S. cannabis market and another revenue-generating vertical operation to Surterra’s rapidly expanding national footprint, which also includes operations Florida, Nevada and Texas. The combined company will have more than 1,500 employees.
“This is a synergistic partnership. NETA’s foundational values and reputable track record align with Surterra’s own vision for long-term success in this rapidly evolving cannabis industry. We welcome the talented NETA leadership team and their proven operations and product development expertise. Their experience will accelerate Surterra’s ability to quickly and strategically scale as we become a global frontrunner in this space,” said Surterra Chief Executive Officer William “Beau” Wrigley, Jr. “Surterra will immediately integrate NETA’s best practices in patient and customer service, research and development, product production, compliance, and year-round indoor grow capabilities across our company’s operations. We thank the Cannabis Control Commission for its approval of the acquisition and the communities of Brookline, Franklin, and Northampton for all of their support.”
NETA Co-founder Kevin Fisher joins Surterra’s leadership team as Executive Director of Operations, effective immediately. An industry pioneer in regulated medical and adult-use cannabis, Fisher has owned and operated facilities in Colorado and Massachusetts under the Rocky Mountain Remedies and NETA brands since 2009. Fisher also co-founded and served as the CEO of Molecular Infusions (Mi), a world class, cannabinoid-focused, biopharmaceutical company based in Boston.
“NETA’s leadership and talented employees are thrilled to join Surterra. Together, we can build upon what NETA has already accomplished in ways that bring superior products and services to our current, and future, patients and customers. Like us, Surterra seeks meaningful collaborations with best-in-class, like-minded partners. They understand the long-term value of building brands and operational capabilities needed to execute on a large scale,” said Kevin Fisher. “NETA will continue to provide patients and customers in the Commonwealth of Massachusetts with the high-quality brands and extraordinary service that they have come to expect. Additionally, our focus on the deployment of strong diversity programs and strategic community partnerships will go forward unabated.”
Terms of the Deal
The financial terms of the cash and stock transaction are undisclosed. Surterra’s acquisition of NETA positions the combined business as a global cannabis sector leader in revenue and earnings. The deal includes Surterra’s full acquisition of NETA’s indoor grow, processing, R&D, product development, retail operations and all medical and adult-use brands marketed through NETA facilities, including all associated intellectual property. NETA currently operates retail dispensaries in Brookline and Northampton, and cultivation and processing facilities in Franklin. The NETA team has built a world class, 100,000 square foot indoor facility that houses cultivation, extraction and infusion technologies. The company offers a portfolio of more than 250 SKUs covering a wide range of premiere cannabis products and a large variety of strains.
About Surterra Wellness
Surterra Wellness (Surterra) is one of the nation’s fastest growing health and wellness companies. With vertical operations in Florida, Texas and Nevada, and Massachusetts, Surterra brings a broad portfolio of high-quality brands to meet the needs of individuals who choose the natural medical relief and wellness enhancing benefits of cannabis products. Surterra offers a wide variety of medical, health and wellness products in multiple delivery options, including vaporizer pens, tinctures, oral sprays, topical creams, time released transdermal patches, and soft gels. The company’s brand portfolio includes: Surterra Wellness, Florida’s Finest, The Apothecary Shoppe, and Coral Reefer. Founded in 2014, Surterra serves thousands of consumers each year. For more information, please visit www.surterra.com.
About New England Treatment Access (NETA)
NETA, LLC is the leading vertically integrated cannabis company in Massachusetts. Founded by industry pioneers whose roots in regulated cannabis date to 2009, NETA’s licenses encompass retail operations in Brookline and Northampton and cultivation and processing facilities in Franklin. Across the organization, NETA employs more than 700 individuals and produces more than 250 unique SKUs. NETA conducted the first legal adult use sale of cannabis east of the Mississippi and provides cutting edge therapies and best-in-class services to over 200,000 patients and customers monthly.
Media Contact:
Laurie MacKenzie
lmackenzie@surterra.com
SOURCE Surterra Wellness
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies. The main goal of 420 Investor is to provide real-time, objective information about the top marijuana companies in the market in order to help investors capitalize on cannabis.
The producers of O’ Cannabiz have decades of experience producing national-profile events and creating global connections between business communities in the arts, broadcasting, media and technology. They have organized trade summit initiatives with governments around the world. And they have worked closely with sponsors in all levels of Canadian government.
First Foods Group, Inc. provides management services and funding options for emerging food brands and menu concepts, including a hemp-based chocolate line.
Valens GroWorks is a multi-licensed, vertically integrated provider of Canadian cannabis products with two wholly-owned subsidiaries located in Kelowna, BC.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
