Vencanna Ventures to Sell Interest in New Jersey Cannabis Retail Applicant
Calgary, Alberta — November 27, 2025 — Leads & Copy — Vencanna Ventures Inc. (CSE:VENI) has entered into a definitive sale agreement to sell its 95% membership interest in Vencanna NJ LLC for $1,250,000, plus reimbursement of certain deposits, plus an earnout.
The total consideration payable to Vencanna Ventures by the purchaser for its membership interest in Vencanna NJ LLC, a special purpose company that has applied for a Class 5 retail license for a proposed retail site in Bellmawr, NJ, includes $1,250,000, plus cash reimbursement of certain deposits amounting to approximately $135,000, plus an earnout of up to $250,000. All financial amounts are expressed in U.S. dollars unless otherwise indicated.
At closing, Vencanna will receive $1,000,000 in cash, reimbursement of deposits, and a $250,000 promissory note due in six months. The purchaser will also pay Vencanna an earnout amount equal to 10% of net revenues exceeding $7,500,000 during the highest grossing consecutive 12 months during the first 18 months of operations, capped at $250,000.
The transaction is expected to close in 90 to 120 days, pending customary closing conditions, including municipal and state approval. Each party is responsible for their respective transaction costs.
The company intends to add the net proceeds from the transaction to its cash on hand for working capital purposes. Vencanna has not allocated the proceeds to any specific use or has material commitments or immediate plans related to the deployment of such funds.
The company also announced that TGC New Jersey LLC’s has exited its lease in Cinnaminson NJ, and that Vencanna has been released of its guarantee of the lease at no further costs, significantly reducing the company’s financial obligations. Vencanna made the strategic decision to monetize its interests to relieve the company of its obligations and future expenditures, as new capital for the cannabis industry has continued to be quite challenging in New Jersey, despite it being an attractive state to operate.
According to the press release, Vencanna completed a recapitalization financing, appointed a new management team and board of directors, and commenced trading on the CSE as an investment issuer on September 24, 2018. The transactions transitioned the Company from an oil and gas issuer to a merchant capital firm, and rebranded as “Vencanna Ventures.” On April 30, 2024 Vencanna acquired Cannavative, a cultivation and extraction company in the state of Nevada. Cannavative was established in 2016, and began operations in 2017. The acquisition of Cannavative transitioned the Company from a merchant capital firm to an operating company. Cannavative operates out of a 7,500 square-foot facility and offers over 150 SKUs, spanning a wide range of high-quality concentrate and pre-roll product offerings.
Vencanna aims to offer investors a diversified, high-growth cannabis investment strategy, focusing on strategic investments, grass roots developments, and acquisitions across the cannabis value chain in the United States.
For more information, contact David McGorman, Chief Executive Officer and Director, at info@vencanna.com.
Source: Vencanna Ventures Inc.
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