DENVER, Colo., July 17, 2019- (24/7MarketNews via COMTEX) Venture Market News for July 17, 2019.
Curaleaf to Acquire Grassroots, Creating the World’s Largest Cannabis Company
Highly Complementary Acquisition of Grassroots Expands Curaleaf’s Presence from 12 to 19 States
Creates Unmatched National Platform and Economies of Scale, Combining Best Practices and Leading Operations Teams
WAKEFIELD, Mass., July 17, 2019 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”), a leading vertically integrated cannabis operator in the United States, today announced it has signed a definitive agreement to acquire GR Companies, Inc. (“Grassroots”), the largest private vertically-integrated multi-state operator, in a cash and stock deal valued at approximately $875 million. This transaction solidifies Curaleaf’s position as the world’s largest cannabis company by revenue and the largest in the U.S. across key operating metrics.
Government of India Issues Approval for Incorporation of Alltemp Sustainable Refrigerants of India Private Limited
Alltemp, Inc. (OTCPK: LTMP), a manufacturer of proprietary, environment-friendly refrigerants designed to deliver significant energy and financial savings, announced the approval by the Government of India for the establishment of its India entity, “Alltemp Sustainable Refrigerants India Private Limited.”.Alltemp’s India entity received its Certificate of Incorporation, dated June 10th, 2019, from India’s Ministry of Corporate Affairs.
Supreme Cannabis to acquire Truverra as it prepares for Legalization 2.0 and Global Medical Markets
- Truverra’s Health Canada licensed facility in Toronto, ON to produce cannabis derivative products for Legalization 2.0.
- Truverra to serve as Supreme Cannabis’ global medical brand, building on existing R&D platform and established CBD offering in Europe.
- Skilled management team with decades of domestic and international experience in highly regulated industries, including life sciences and pharmaceuticals.
TORONTO, July 17, 2019 /PRNewswire/ – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced that it has entered into a definitive agreement (the “Acquisition Agreement”) under which Supreme Cannabis will acquire all of the issued and outstanding shares of privately-held Truverra Inc. (“Truverra”), to be effected by way of a three-cornered amalgamation between Truverra, Supreme Cannabis and a wholly-owned subsidiary of Supreme Cannabis (the “Transaction”). The Transaction is valued at 14.7 million common shares of Supreme Cannabis (the “Consideration Shares”), giving the Transaction an approximate dollar value of $20,000,000 as of the Company’s closing price on July 16, 2019.
Altius Reports Second Quarter 2019 Attributable Royalty Revenue of $19.5 million
(TSX: ALS; OTCQX: ATUSF) Altius Minerals Corporation (“Altius” or “the Corporation”) expects to report attributable royalty revenue1 of approximately $19.5 million ($0.46 per share) for the quarter ended June 30, 2019. This compares to revenues of $16.5 million ($0.38 per share) generated in the comparable quarter last year, and $21.8 million ($0.51 per share) during the prior quarter.
K92 Mining Signs US$12.5 Million Agreement To Eliminate Contingent Payment With Barrick Gold Corporation
VANCOUVER, British Columbia, July 17, 2019 (GLOBE NEWSWIRE) — K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce that K92 and Barrick Gold Corporation (“Barrick”), through its wholly-owned subsidiary, have entered into an amendment agreement (“Amendment Agreement”) amending the share sale agreement dated June 11, 2014 (“Original Agreement”). Under the amended terms, K92 will provide Barrick with a cash payment of US$12,500,000 within 60 days from the date of the Amendment Agreement, to eliminate the contingent payment arrangement under the terms of the Original Agreement which continued until March 6, 2025 (refer to K92’s consolidated interim financial statements for the three months ended March 31. 2019, filed on SEDAR for information on the contingent payments under the Original Agreement).
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