HeavenlyRx set to acquire PureKana

HeavenlyRx Ltd. (“HeavenlyRx“) on Tuesday, announced a signed letter of intent to acquire PureKana. Under the agreement, HeavenlyRx will acquire a majority ownership stake from the founding members of PureKana, with the acquisition expected to close by the end of 2019.

PureKana – located in Scottsdale, Arizona – is a CBD brand and company with a large online consumer base. PureKana describes their products as “ultra-concentrated CBD oil.”

PureKana’s product line currently includes oils, capsules, topicals, gummies, and pet products.

“PureKana has grown into one of the most important brands in the CBD industry,” said HeavenlyRx CEO Paul Norman. “With a dynamic entrepreneur and business leader like Cody Alt leading the helm, his vision to bring PureKana into the mainstream is a great fit for HeavenlyRx. PureKana’s powerful online presence when combined with our reach to distribution into mainstream channels will create a leading player in the marketplace.”

Throughout this year HeavenlyRx has made multiple strategic moves and acquisitions framing it as an industry leader in the CBD retail space.