OTCPK:NWKRF - Post by User
Post by
bmorganstockon Jan 23, 2018 9:59pm
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Post# 27421025
Hip will be 35 % of Cmed
Hip will be 35 % of Cmed
Newstrike says the band are backing the company's upcoming acquisition by licensed producer CanniMed Therapeutics Inc. The Globe and Mail reports that the Hip, who are creative partners and shareholders in Newstrike, own a 5.4-percent stake in the company. The band's share is worth an estimated $39 million. In a statement on behalf of the band, guitarist Rob Baker said the merger between Newstrike and CanniMed "will create shareholder value and a formidable force in the Canadian cannabis market for many decades to come." The Saskatoon-based CanniMed made the deal to acquire Newstrike in an all-stock transaction last November. CanniMed shareholders would own 65 percent of the combined company, while Newstrike shareholders would hold the remaining 35 percent.