Post by
winnerscircle on Apr 08, 2021 9:12am
Wheeling and Dealing
Not us though...of course not us....but maybe us someday..... TORONTO - Canopy Growth Corp. has signed a deal to buy the Supreme Cannabis Company Inc. in an agreement valued at $435 million. The acquisition adds Supreme Cannabiss premium brands, 7Acres and 7Acres Craft Collective, as well as others to Canopys roster of offerings. The deal is the latest move by Canopy to grow by acquisition as the cannabis sector has seen a wave of consolidation. Canopy announced last week it had bought Ace Valley, a Toronto company that makes vapes, gummies and pre-rolls. Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and 0.01 of a cent in cash for each Supreme Cannabis share held. The offer is worth 44 cents per Supreme Cannabis share. Supreme Cannabis shares closed at 26.5 cents on the Toronto Stock Exchange on Wednesday, while Canopy shares closed at $37.74. This report by The Canadian Press was first published April 8, 2021. Companies in this story: (TSX:WEED, TSX:FIRE)
Comment by
Weedpal on Apr 08, 2021 9:32am
They paid $400 million for Supreme.. While THC is worth $27 million. I would not be happy if THC was bought out right now.
Comment by
2TH3Moon on Apr 08, 2021 9:42am
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Comment by
winnerscircle on Apr 08, 2021 9:42am
100%....I still think there is no reason we shouldn't be valued at 200-250 mill in short order with some competent guidance from.up top.....so far its been subpar ...but I do see the trend changing ...im just praying for the follow through
Comment by
Petespipe on Apr 08, 2021 9:44am
THC Biomed has to get at least $2.50 plus for a buyout. Supreme cannabis is a sloppy pig of a company
Comment by
2TH3Moon on Apr 08, 2021 9:45am
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Comment by
Tryingtomakeit on Apr 08, 2021 10:04am
but their loss is much bigger