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Tilray Inc (NASDAQ: TLRY) Sends Open Letter to Shareholders

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Tilray Inc (NASDAQ: TLRY) sent an open letter on August 26 from Irwin D. Simon, CEO and chairman, to the company’s shareholders. In the letter, Simon describes his vision for the company and gives his $4 billion target. He also encourages shareholders to vote for initiatives that are in line with this vision at Tilray’s special meeting of stockholders. The meeting is scheduled to occur on September 10. Tilray is one of the largest cannabis lifestyle and consumer-packaged goods companies in the world. It has operations in the U.S, Latin America, Canada, Europe and Australia. Tilray’s production platform supports about 20 brands in over 20 countries.

Details of the open letter

In the letter, Simon reminds shareholders of the assurances Tilray gave in December 2020. Among them was that the trends towards legalisation of cannabis and consumer reach in the U.S, Canada and internationally would improve. He also assured that organic-growth initiatives together with new acquisitions and partnerships would enable the company to grow and meet its target of $4 billion revenue by the end of 2024.

Shareholder’s approval is needed for Tilray to meet its objectives

While Simon still maintains that the company can achieve these goals, he states that it can only reach them through support from shareholders. Be urges them to pass two proposals. Proposal 1 would allow the company to issue more shares to execute acquisitions and other opportunities. For this to pass, Tilray would need a 50.1% vote.

Simon adds that having the resources and flexibility will enable them to execute their growth vectors and ensure success. These growth vectors include outstanding execution, organic and inorganic growth and legalisation. With these vectors executed, Tilray’s five key competitive differentiators will bring lasting shareholder value.

One of Tilray’s differentiators includes a leading position in Canada, that would bring its combined retail market share from 16%-30% in 2024. The company is also working to become a leading business in the Cannabis market internationally. 

Tilray has a presence in the European Union which could become one of its largest markets. It could bring the company about $1 billion in medical use alone. When adult-use is legalised in the region, the company plans to be ready.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

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Planet 13 Holdings Inc (OTCMKTS: PLNHF) Announces Divestiture of Florida License with Harvest Health

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Harvest Health & Recreation Inc (OTCMKTS: HRVSF), is a multi-state operator in the United States, recently announced that it had signed a definitive divestiture agreement with Planet 13 Holdings Inc (OTCMKTS: PLNHF) for its Medical-Grade Cannabis Treatment license from Florida’s Department of Health.

Planet 13 Holdings Inc (OTCMKTS: PLNHF) has agreed to buy the license for approximately $55 million. The planned divestitures are made up of the license sale only and don’t include any operational or planned facilities. Closing this specific divestiture remains subject to the CSCC (customary satisfaction of closing conditions), including the planned acquisition of Trulieve Cannabis Corp and other regulatory approvals

Senior Management

Steve White, the company’s Chief Executive Officer, said that they’re delighted to have entered into this divestiture agreement for the Florida license, which they’ll need if they want to finalize the Trulieve deal. He further stated that they’re encouraged by how much progress they’ve made so far and will continue to strive and complete both deals. Harvest’s financial adviser in this deal was Canaccord Genuity Corporation.

Harvest Health has its headquarters in Tempe, Arizona. It’s a multi-state operator and a vertically integrated cannabis corporation. Since 2011, the company has been dedicated to expanding its wholesale and retail footprint all across the United States. The company is dedicated to selling, manufacturing, and acquiring cannabis-based products for both consumers and patients all across the country. In addition to all this, the company also wants to provide dispensaries with their services. Through targeted acquisitions, service agreements, and organic license wins, Harvest Health has created operational footprints spanning many different states in the United States.  

Todd Harrison posted on Twitter about this deal and even mentioned the consideration price of $55 million. Many people had mixed reactions about the whole transaction, but a majority felt like both parties were getting one step closer to achieving the business goals they set out when they started doing what they do now.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Valens Company Inc (TSE: VLNS) Buys The Issued And Outstanding Common Shares From Citizen Stash

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Valens Company Inc (TSE: VLNS) and Citizen Stash Cannabis Corp (OTCMKTS: EXPFF) have announced their entry into a new deal. It is an arrangement that will enable Valens to reach its goal to purchase the issued and outstanding common shares from Citizen Stash. 

Details about the deal

The company understands all the terms and conditions, which include working with a court-approved plan of arrangement. In addition, the company says the arrangement must be linked to the Canada Business Corporations Act and discloses the transaction’s value, which stands at about $54.3 million on an enterprise value basis.

The Citizen Stash shareholders know the great role the terms of the Arrangement Agreement play in the wider scheme of matters, including dictating what they end up with in the form of Valens common share. 

Valens considers the Citizen Stash Acquisition to be a step towards the right direction, outlining that it will be rather accretive for it in the future. It looks forward to great times ahead where it improves its portfolio. It hopes to add to it an innovative, premium flower brand. It acknowledges that it exists in a rather competitive business climate and is thus doing everything to keep improving its position in the fast-changing world. 

The successful completion of the Citizen Stash transaction tells quite a lot about Valens’s determination to succeed. It is an achievement that takes the company’s acquisitions a notch higher. They will add up to a total of three. 

Valens wants to progress, which includes developing an elaborate global manufacturing platform that will enable it to clinch a significant market share. In addition, it plans to undertake a series of innovative product launches that serve product consumers with great experiences.

Robson’s perspective

The  Chief Executive Officer and Chair of the Board of The Valens Company, Tyler Robson, opines, “We are excited to join forces with Citizen Stash’s experienced team and broaden our offerings in the flower and pre-roll verticals with a best-in-class brand. The premium price tier of the flower and pre-roll segments represents the best expansion opportunity for Valens in the flower category, as premium brands are the hardest to build, while also capturing the highest margins.”

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Net Savings Link Inc (OTCMKTS: NSAV) Hints on the Unveiling of a Premium OTC Crypto Trading Desk

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Net Savings Link Inc (OTCMKTS: NSAV) has disclosed details about what it needs to achieve by mid-September. It unveils a Premium OTC Crypto Trading Desk that will provide personalized service to high net-worth individuals and institutions. It will particularly focus on institutions and persons that trade in large blocks of cryptocurrency. 

The shift

The OTC Crypto Trading Desks continue growing in popularity as the destinations where people can benefit from the unlimited purchase of the unlimited tokens. Such traders benefit from Fiat support, price protection, and anonymity. The tokens in question happen to be the ones that are difficult or impossible to find on exchanges. 

NSAV’s OTC Desk will serve many clients effectively, especially those requiring execution and settlement services. Most of them seem more inclined to benefit from secure, discreet, and competitive services. There is a major shift in the state of affairs, including all the major crypto exchanges’ success in establishing their OTC Desks. It was back in 2019 that Kraken announced it had bought a leading OTC Crypto Trading Desk. It continues to witness massive success since then, And currently, it stands out as one of the best performing  OTC Crypto Trading Desks globally. The company’s management takes great pride in having its own OTC Crypto Trading Desk, which it hopes will serve NSAV and all its shareholders remarkably. It continues making many efforts to enable it to scale higher.

Lim speaks out

The Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner Mr. Dato’ Sri Desmond Lim, opines, “I am thrilled that NSAV will soon have its own OTC Crypto Trading Desk. I believe that it will be a great compliment to NSAV’s current business model.”

The official looks forward to better times ahead where the company succeeds in setting up a fully integrated technology company that will do a great job in delivering turnkey technological solutions to the blockchain, cryptocurrency, and digital asset industries.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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