Simply Solventless Concentrates Ltd. has closed the previously announced acquisition of all the outstanding shares of Delta 9 Bio-Tech Inc. from Delta 9 Cannabis Inc.

Simply Solventless (SSC) also announced that it has changed Bio-Tech’s corporate name to Humble Grow Co. 

The announcement comes following SSC closing on the announced financing deal of $6 million, the proceeds from which were expected to fund the outstanding purchase price for the Bio-Tech acquisition.

“The closing of the Bio-Tech Acquisition and subsequent rebranding to Humble Grow Co. marks a significant milestone for SSC,” said Jeff Swainson, president and CEO of SSC, “and we thank all parties involved. SSC has world class processing capabilities in prerolls, vapes, and concentrates, and we now own a lean, profitable, complimentary cultivation asset that produces high-quality, internationally exportable flower for among the lowest per gram indoor cultivation costs in Canada. The operational integration of Bio-Tech is largely complete, and looking forward, we will focus on expanding Humble revenue while we continue to execute our highly impactful business plan focused on organic revenue growth and opportunistic acquisitions.”

SSC reports that Bio-Tech currently produces approximately 9,000 kilograms of cannabis per year. The cannabis processor believes that with roughly $4 million in capital investment, production could potentially increase to 15,000-18,000 kilograms per year, but this is not planned at this time.

Bio-Tech services the recreational dried flower markets in Ontario, Alberta, Manitoba, Saskatchewan, British Columbia, and the Maritimes, and the business-to-business wholesale market in Canada and internationally.

At the end of 2024, Simply Solventless Concentrates Ltd. entered into a share purchase agreement with Delta 9 Cannabis Inc. to acquire all of Delta 9 Bio-Tech Inc.’s issued and outstanding shares.

The deal was expected to add around $12 million in revenue when it was first announced. 

In January, Simply Solventless launched a non-brokered private placement financing with gross proceeds of up to $5 million. The proceeds were also expected to fund the purchase price of the previously announced acquisition of all Delta 9 Bio-Tech Inc.’s issued and outstanding shares.  

In a press release at the time, SSC, which does not produce flower itself, said that the acquisition of Delta 9 will help the company continue to make inroads in the dried flower market following its recent acquisition of pre-roll manufacturer ANC Inc. for $10 million. SSC expects that the all-in cash cost to cultivate cannabis through Delta 9 will be approximately $0.60-$0.70 per gram, among the lowest for indoor cannabis in Canada.

SSC also announced that it has appointed James Clarke to the position of Vice President, Corporate Services. James currently serves as COO of ANC, a wholly owned subsidiary of SSC. James is a detail-oriented professional with a strong passion for electronics and technology. James developed a diverse skill set and a wealth of knowledge over 14 years in the oilfield industry and over five years in cannabis.

As a founder of ANC, James demonstrated exceptional leadership and versatility by successfully completing all necessary tasks to get the company up and running. Known for a meticulous approach and a love for innovation, James consistently delivers high-quality work and is always eager to explore new technologies to solve complex problems.

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