06:49:27 EDT Sun 27 Sep 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Cannabis Summary for Jan. 21, 2020

2020-01-21 20:38 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index sank 10.07 points to 429.99 Tuesday. Arizona-based Harvest Health & Recreation Inc. (HARV) fell 37 cents to $4.23 on 806,500 shares after announcing that its previous acquisition target, Falcon International Corp., is seeking $50-million (U.S.) for a cash breakup fee as a result of their deal failing to go through. The deal was first announced in February, 2019, for an undisclosed acquisition price.

Two weeks ago, Harvest Health made it official that the deal was off, filing a suit against Falcon in United States federal court, District of Arizona. In the suit, amongst other things, Harvest alleged that Falcon failed to provide auditable financial records, which Harvest says precludes it from completing the acquisition. Because of that, Harvest is requesting termination and rescission of the agreement, and a return of an undisclosed amount of money that Harvest paid to Falcon. For its part, Falcon denies any wrongdoing and has moved to dismiss the lawsuit for lack of jurisdiction. Despite today's 37-cent drop, Harvest is still up from $2.77 on Dec. 19 to $4.23 today.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2020 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.