Stocks to Watch Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
CannaRoyalty Corp., which does business as Origin House (OH-C), announced that it has divested its 5.1-per-cent equity interest in Alternative Medical Enterprises LLC for US$6-million. "As Cresco Labs Inc. is prohibited under state law from acquiring additional positions in the Florida market, this divestment was a pre-closing condition to the company's previously announced plan of arrangement pursuant to which Cresco has agreed to acquire all of the issued and outstanding shares of Origin House," the company stated.
"With one of the final conditions to closing the Arrangement with Cresco now complete, we look forward to proceeding to drive value for shareholders as a combined company, upon the expiration of the anti-trust waiting period," stated Marc Lustig, CEO of Origin House. "The sale of the remaining AltMed interest marks a significant milestone in the continued process whereby Origin House has monetized non-core holdings resulting in both substantial returns for shareholders and additional cash that has fueled the Company's growth."
Fri, 26 Jul 2019 12:46:19 +0000