When asked during the segment if Hexo is prepared to add a premium to the offer in order to get Newstrike shareholders on board, St-Louis said the company is "not interested in bidding wars".
This morning, Hexo CorpHEXO released Q2 2019 numbers and shares are now soaring 6% in pre-market trading.
This is a positive step for HEXO, as the acquisition gives the cannabis company the ability to produce around 150,000 kgs of high-quality cannabis a year. Hexo's stock gained 6.9 percent to C$7.87 at 2:24 p.m. Wednesday, while Newstrike rose 11 percent to 50 cents.
"Our strength in Ontario and English Canada clearly complements HEXO's strong position in Quebec and creates an industry leader", Jay Wilgar, CEO of Newstrike, said in a statement. The company expects $10 million in annual savings on the production and administrative side as a result of the merger, which remains subject to approvals from courts and regulators as well as Newstrike shareholders. Health Canada has issued licences to more than 100 entities under the Cannabis Act, and Up Cannabis is one of only seven with provincial agreements in at least seven provinces. The firm issued an underperform rating on the stock.
The Hexo-Newstrike deal is the latest sign of consolidation in Canada's cannabis sector, and not the only time firms have signaled an interest in the Ontario-based grower.
Mob boss gunned down in Mafia hit outside his home
The New York Post reported that Cali had increased the Gambino family's involvement in drug trafficking, particularly in opioids. Cali was believed to have been elevated to the position of acting boss in 2015, taking over from Domenico "Greaseball" Cefalu.
"It was no secret that deals were being tabled in the week that our retail operators had to complete their retail operator license application", Brenna Boonstra, director of quality and regulatory consulting Cannabis Compliance, told INN.
Ontario cited a "national shortage" of regulated cannabis when it scaled back the rollout of brick-and-mortar outlets late a year ago to 50 across the province. In November 2017, CanniMed had announced an all-stock deal to acquire Newstrike.
Newstrike'sHIP ticker symbol on the TSX Venture exchange references the company's branding partnership with Canadian rockers the Tragically Hip. Upon completion of the transaction, existing HEXO and Newstrike shareholders would own approximately 86% and 14% of the pro forma company, respectively, on a fully-diluted basis. 3 Sixty provides cannabis security consulting, guarding and secure transport security services to more than 500 customers and more than 60 licensed cannabis producers, including some of the world's largest, such as licensed producers owned by Canopy Growth Corporation.
The chief executive of Hexo Corp. says cannabis products have been slow to reach retailers because licensed producers "underestimated" the infrastructure needed to fulfill orders. HEXO Corp. (NYSE:HEXO) has diverse figures for different time frames; starting from week's performance it presents bullish trend of 8.97% in last five regular trading sessions. Hexo rose 6.63 percent and 5.81 percent in NY and Toronto, to finish with a closing price of US$5.92 and C$7.83.
The jury agreed with Qualcomm's contention that it should be paid $1.41 per iPhone relying on three of its patents. As you might imagine, Qualcomm was happy with the jury's decision while Apple said it was disappointed with it.
Mike's last photo on Instagram has been filled with loving messages after he shared a photo of himself in the gym. Steven Watt, who was Mike's manager when he played for Margate, tweeted "Absolutely gutted, RIP mate".
The current world number two said he hopes to meet the Swiss great for the first time since the Shanghai Masters in October 2017. However, Federer and Nadal got to this appointment in a completely different state.
They contend that the AR-15-style rifle used by shooter Adam Lanza on December 14, 2012 is too unsafe for the public. The case was then moved up to the state's highest court, and the decision to move forward was issued Thursday.
Unlike at previous hearings, prosecutor Jeannie Rhee from Mueller's office handled arguments for the prosecution on Thursday. He has pleaded not guilty and remains free pending trial, but he is under the gag order and has travel limitations.
Ninja built a huge following playing Fortnite , that other little free-to-play battle shooter that you might have heard of. Blevins isn't the only famous Twitch streamer Electronic Arts is said to have approached leading up to the product launch.
Not only is Spence used to the heavier division, the 29-year-old southpaw is about three inches taller and has a longer reach. The 2012 Olympian will headline a pay-per-view card for the first time since he turned pro six years ago. "I got one job".
In total, the search giant took down 2.3 billion ads that violated its advertising policies previous year . Second, Google went after the bad actors behind numerous bad ads and not just the ads themselves.
I love what I do, I think I have a fantastic team out there, and that's all that I need to be a happy person. We did it in the past, we did it quite well and we will continue with that".
Record Flooding in Nebraska, Iowa, Captured in Satellite Imagery
Moderate flooding is expected along the Tittabawassee River in Midland County when it crests around 27 feet on Saturday morning. Flooding is also common if somewhat less widespread in parts of Wisconsin, Minnesota, Michigan, and South Dakota in particular.
Xi summit will not happen in March - Mnuchin
Trump said he would boost tariffs on $200 billion of Chinese goods to 25% from the current 10%.Those 90 days ended March 1. In fact, no trade talks between Jinping and Trump's team has been set for more than two weeks already, CNBC reported.
'Left 4 Dead' studio Turtle Rock returns with 'Back 4 Blood'
Additionally, the company wanted to let the industry know it is working on something big because it is looking to hire new talent. The studio chose to announce the game so soon because it is looking for community feedback early on in the development process.
‘Ordinary white man?’ Picture of New Zealand accused emerges
Worshipper Syed Mazharuddin, who lost two of his friends in the attack, said: "This guy came through the main entrance door". Facebook said it had deleted the gunman's accounts "shortly after the livestream commenced" after being alerted by police.
Italy police fool thieves with Brueghel masterpiece copy
The surveillance footage of the raid is now being carefully studied and investigators are chasing down those responsible. That morning, the town mayor Daniele Montebello told press that the theft was "a hard blow for our community".