Which Canadian Cannabis Producer will be Acquired Next?
Activity within the cannabis industry is accelerating…quickly.
From the first initial public offering on the New York Stock Exchange to the largest acquisition of a Canadian medical cannabis producer, yesterday was a wild day for the cannabis industry.
Canopy Growth (CGC.TO) (TWMJF) and Mettrum Health (MT.V) (MQTRF) announced an agreement where Canopy Growth will acquire all of the issued and outstanding shares of Mettrum. The total transaction is valued at approximately 430 million CAD and will be satisfied by the issuance of common shares in Canopy Growth.
Under the terms of the agreement, Mettrum shareholders will receive 0.7132 common shares of Canopy Growth for each common share of Mettrum, representing consideration of C$8.42 per Mettrum common share based on the closing price of CGC.TO on November 30th.
After the acquisition was announced, several licensed Canadian medical cannabis producers saw their stock prices move higher. We think yesterday’s announcement is...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
Follow us on Instagram
Connect with us on Linkedin