- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Scythian Biosciences announced it completed its acquisition of MMJ Colombia Partners, triggering its play for a stake in Colcanna, a local Colombian cannabis producer.
Scythian Biosciences (CSE:SCYB) announced it completed its acquisition of MMJ Colombia Partners, triggering its play for a stake in Colcanna, a local Colombian cannabis producer.
As quoted in the press release:
Pursuant to the terms of the Acquisition, Scythian purchased all of the issued and outstanding common shares of MMJ Colombia and in consideration, Scythian:
- paid US$6,200,000 in cash, which was advanced to MMJ Colombia prior to closing;
- issued 6,679,310 common shares of the Company (“Common Shares”) to the selling shareholders at a deemed issue price of CDN $3.6381 per share, representing the volume weighted average price of the Common Shares for the 20 trading days prior to the closing date; and
- assumed an aggregate of US$5,000,000 of MMJ Colombia’s non-interest bearing, unsecured debt, of which US$4,000,000 is due on October 15, 2018 and US$1,000,000 is due on December 31, 2018.
The acquisition is one of Scythian’s final transactions in South America and the Caribbean, where the Company’s strategic investments and regional partnerships had previously been focused.
Click here to read the full press release.
Source: globenewswire.com
Outlook Reports
Featured Cannabis Investing News Stocks
Browse Companies
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2330.58 | +14.28 | |
Silver | 27.45 | +0.27 | |
Copper | 4.57 | +0.08 | |
Oil | 82.97 | +0.16 | |
Heating Oil | 2.58 | +0.02 | |
Natural Gas | 1.65 | 0.00 |
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.