An earlier version of this report had an incorrect figure in the headline. It has been corrected.
Canadian cannabis company Tilray Inc.
said Thursday it has agreed to acquire Four20, an adult-use cannabis retailer based in Calgary, Alberta in an all-stock deal. Tilray will pay up to C$110 million ($82.9 million) dividend between C$70 million of Tilray class 2 common stock at closing and C$40 million in stock subject to the achievement of certain milestones. The deal is expected to close by the end of the first quarter of 2020. Tilray shares rose 2.8% premarket, but have fallen 61.4% in 2019 through Wednesday, while the S&P 500
has gained 15.2%.
Go to Source