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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 10.16 points to 726.95 Wednesday. Emprise Capital Corp.'s NEX shell, Sixonine Ventures Corp. (SNX: halted), plans to acquire a U.S. marijuana marketing and distribution company called DionyMed Holdings Inc. The acquisition terms are not yet available, but the shell, which has 6,911,532 shares issued, will roll back its stock. Sixonine's shares are being valued at $4-million or nearly 58 cents per preconsolidated share.

DionyMed was founded last year. It operates in California and Oregon through its wholly owned subsidiary, Herban Industries Inc., which has an office in the San Francisco Bay Area. Herban distributes products such as vape cartridges and dried flower. DionyMed expects to lose $2.75-million (U.S.) this year on a hoped-for revenue of just under $42-million (U.S.).

In April, DionyMed received $800,000 from Toronto investment firm Grenville Strategic Royalty Corp., which at the time was trading around 6.5 cents on the TSX-V. Grenville, which was unprofitable for the last two years, is now a part of Flow Capital Corp. (FW: $0.17). DionyMed's chief financial officer, Peter Kampian, was a director of Grenville. What he would like investors to remember, however, is not that he was a director of Grenville but that he was the CFO of Mettrum Health Corp., which traded up to $8.30 on the TSX-V. Mettrum was acquired last year by Canopy Growth Corp. (WEED: $59.77). Mr. Kampian, an accountant in Cambridge, Ont., was also the CFO from 1999 to 2007 at Algonquin Power Income Fund, now called Algonquin Power & Utilities Corp. (AQN: $13.39).

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