Shareholders Of This Pot Stock Say No To Acquisition By Red White & Bloom
Portfolio Pulse from Vuk Zdinjak
Red White & Bloom Brands Inc. (RWBYF) and Aleafia Health Inc. (ALEAF) have mutually terminated their proposed business combination transaction due to lack of approval from holders of Aleafia convertible debentures. Aleafia is currently in breach of certain covenants under the Aleafia senior secured loan agreement, and RWB is considering all available options. Aleafia's board of directors is exploring potential strategic alternatives.
July 17, 2023 | 11:53 am
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NEGATIVE IMPACT
Aleafia Health's proposed acquisition by Red White & Bloom has been terminated due to lack of approval from its debenture holders. The company is exploring strategic alternatives.
The termination of the proposed acquisition could negatively impact Aleafia Health's stock as it indicates a failed business strategy and leaves the company to reconsider its options.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Red White & Bloom's proposed acquisition of Aleafia Health has been terminated, leaving the company to consider other options.
The termination of the proposed acquisition could negatively impact Red White & Bloom's stock as it indicates a failed business strategy and leaves the company to reconsider its options.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100