Toronto Weed Producer Announces Successful Bidder For Sale And Investment Process
Portfolio Pulse from Jelena Martinovic
Aleafia Health Inc. (ALEAF) has selected Red White & Bloom Brands Inc. (RWBYF) as the successful bidder in its court-approved sale and investment solicitation process. The Ontario Superior Court approved the terms of a Stalking Horse Asset Purchase and Share Subscription Agreement, which allows RWBYF to acquire certain assets from Aleafia and subscribe for shares of certain Aleafia subsidiaries. Aleafia also agreed to sell its Grimsby facility to a third-party purchaser. The transactions are expected to close by November 22, 2023.
October 13, 2023 | 3:33 am
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NEUTRAL IMPACT
Aleafia Health Inc. is selling assets and shares to Red White & Bloom Brands Inc. and a third-party purchaser. The transactions are expected to close by November 22, 2023.
The sale of assets and shares could potentially provide Aleafia with the necessary funds to pay off its creditors and improve its financial position. However, the impact on the stock price will depend on the terms of the sale and the market's perception of the company's future prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Red White & Bloom Brands Inc. has been selected as the successful bidder to acquire certain assets from Aleafia Health Inc. and subscribe for shares of certain Aleafia subsidiaries.
The acquisition of assets and shares from Aleafia could potentially expand Red White & Bloom's operations and increase its market share. This could have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100