Canada’s infused cannabis beverages maker BevCanna has signed a non-binding letter of intent (LoI) to acquire Little West Holdings, a cold-pressed juice company in the US.

Based in California, Little West produces a wide range of juices including hemp-derived CBD cold-pressed juices.

West Holdings produces its hemp-derived CBD cold-pressed juices using nano-emulsified CBD, containing 0% Tetrahydrocannabinol (THC).

BevCanna chief commercialisation officer Emma Andrews said: “Little West’s line of cold-pressed juices will be a fantastic addition to our portfolio of cannabis-infused beverages. Their products are created with a focus on health and wellness, using the highest-quality, freshest ingredients, and the taste is incredible.

“There are a number of synergies with BevCanna’s range of infused beverages and we’re excited to soon be able to offer Little West juices to our customers.

“Little West has developed a compelling range of products, including their range of CBD infused drinks, with an authentic emphasis on health and wellness all without compromising on taste.”

The Canadian beverage firm would acquire all of the issued and outstanding, as well as the business Little West Holdings through its US subsidiary BevCanna US Operating Company.

In its non-binding LOI, BevCanna has agreed to pay cash of $1m, as well as $3m worth common shares in the capital of BevCanna to shareholders of Little West.

The two companies have agreed to close the deal within 45 days from the signing date of the LoI.

Little West founder and CEO Cassandra Troy said: “We’ve been looking for a partner that can help us grow Little West while maintaining our vision of providing the very best in all-natural, nutritious, healthy juices.

“BevCanna fit the bill perfectly. The bottling, branding, development and natural resources that they bring to the table are unmatched and their view of the future of infused beverages meshes seamlessly with ours.”