Canadian Cannabis Co. C21 To Buy Nevada's Deep Roots In $3.5M Deal
Portfolio Pulse from Jelena Martinovic
C21 Investments Inc. (CXXIF) is acquiring Deep Roots Harvest, Inc. for $3.5 million, enhancing its Nevada operations. The deal includes a dispensary in Reno and is funded partly by a CA$4 million private placement of convertible debentures. The acquisition is subject to regulatory approvals.
March 15, 2024 | 7:09 pm
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C21 Investments Inc. is set to acquire Deep Roots Harvest for $3.5 million, funded by a CA$4 million private placement. This acquisition aims to expand its Nevada operations.
The acquisition of Deep Roots Harvest by C21 Investments is a strategic move to expand its footprint in the Nevada cannabis market. The deal, funded by a significant private placement, indicates a strong investment in growth. Regulatory approvals are pending, but if successful, this could enhance C21's market position and potentially its financial performance. The slight decrease in stock price at the time of writing may reflect market uncertainty about the deal's closure or its immediate financial impact.
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