Monday, 25 March, 2019

Cannabis maker HEXO Corp to acquire Newstrike for around $200M

Cannabis producer HEXO buys out Newstrike in $263 million stock deal Sales of legal dried cannabis declined in January: Health Canada
Jean Garcia | 16 March, 2019, 23:11

"We're extremely proud of our record of execution, and today are committing to achieving over $400 million in net revenue in 2020", St-Louis said in a statement. "We are thrilled to have been selected by Up Cannabis to provide guarding services and secure transport for a company with clear growth ambitions, tremendous production capacity, and supply agreements in place that can support its strategic intentions".

Yesterday, HEXO released news that it is the first cannabis company to enter into the Food and Consumer Products of Canada (FCPC).

Health Canada said 7,115 kilograms of dried flower cannabis was sold in Canada in January, down 3.7 per cent from December, according to the government agency's monthly Cannabis Tracking System, which was updated late Wednesday. The co's performance for 6 months was isolated positively of 1.42%, 1-year performance stands at 95.73% and year to date showing increased performance of 73.47%. For the long-term approach of trading or also can for short period of time, 200 days MA can also help to get idea about trading, HEXO has 28.66% which indicates Bullish trends and this can also make isolating trends easier. As of September 30, 2018, Newstrike had $107.6M in cash on its balance sheet. While Hexo does not indicate how many grams are now in inventory, it notes that it expects to yield 12,871KG of product based on current growth, which compares to 4,938KG harvested during Q2.

Nadal withdraws from semis at Indian Wells
They have not met since Shanghai in 2017, the same year that Federer beat Nadal 6-2 6-3 in the fourth round at Indian Wells. He seems to me very good. "Not that I didn't expect it, but it definitely went better than I thought it would".

Ontario cited a "national shortage" of regulated cannabis when it scaled back the rollout of brick-and-mortar outlets late past year to 50 across the province.

The combined entity is estimated to realize annual synergies of $10M, and is expected to generate over $400M net annual revenue by mid 2020. "We're excited about Newstrike's agreement with the Neal Brothers to create specialty products for the edibles market and so that joint venture will be integrated into this acquisition", St. Louis explained.

After jumping about 6% in Thursday's premarket session, shares traded up about 2.2% in NY and up about 3.2% in Toronto at C$8.08, in a 52-week range of C$3.91 to C$9.29. HEXO and Newstrike have market caps of $1.6B and $251M, respectively. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The author has no securities or affiliations related to this organization. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.

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