Scythian Biosciences-backed cannabis facilities operator Verano has agreed to an $850m acquisition by Harvest Health and Recreation in an all-stock transaction.

Verano, a US-based vertically integrated cannabis group backed by cannabinoid therapy developer Scythian Biosciences, agreed to an $850m acquisition by its peer Harvest Health and Recreation on Monday. The all-stock transaction assumes a Harvest share price of C$8.79 ($6.57) and is set to close within the first half of the year. It is subject to…

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