Court Approves Red White & Bloom's Stalking Horse Bid For Aleafia's Sale And Investment Solicitation Process
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The Ontario Superior Court of Justice has approved a stalking horse asset purchase and share subscription agreement where Red White & Bloom Brands Inc. (OTC:RWBYF) (CSE:RWB) would acquire certain assets from Aleafia Health Inc. (OTCPK:ALEAF) and subscribe for shares of certain subsidiaries of Aleafia Health. The agreement is part of Aleafia's proceedings under the Companies’ Creditors Arrangement Act. The deal is subject to certain conditions, including court approval, regulatory approvals, and the licenses being in good standing.
August 23, 2023 | 12:57 pm
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NEGATIVE IMPACT
Aleafia Health Inc. is set to sell certain assets to Red White & Bloom Brands Inc. and have Red White & Bloom subscribe for shares of certain subsidiaries, subject to certain conditions.
The sale of assets and shares to Red White & Bloom could potentially decrease Aleafia Health's market presence and value, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Red White & Bloom Brands Inc. is set to acquire certain assets from Aleafia Health Inc. and subscribe for shares of certain subsidiaries of Aleafia Health, subject to certain conditions.
The acquisition of assets and shares from Aleafia Health could potentially increase Red White & Bloom's market presence and value, leading to a positive impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100