09:16:24 EDT Mon 20 Sep 2021
Enter Symbol
or Name

Login ID:

Cannabis Summary for Sept. 10, 2021

2021-09-10 19:27 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 S&P/TSX Cannabis Index lost 3.45 to 147.76, while the CSE Composite Index lost 9.70 to 644.73. Canadian cannabis grower Tilray Inc. (TLRY) lost 51 cents to $15.76 on 1.46 million shares. Despite the drop, management was surely in a cheerful mood, having just snatched a long-desired victory. It convinced shareholders this morning to approve an increase to its maximum authorized share count.

This morning's special meeting was the fourth one that Tilray tried to hold to get this proposal through. It first asked shareholders in April -- at the same time that it asked them to approve its merger with Aphria -- to increase its maximum allowable share count to 900 million from 743 million. (There are currently 446 million shares outstanding.) Shareholders approved the Aphria merger but rejected the share increase. Tilray scheduled another meeting for July, this timely solely focused on the share increase, which now proposed hiking the maximum to 990 million. Insufficient support prompted it to adjourn that meeting to Aug. 19 and then again to Sept. 10 (today). After months of effort, and dozens upon dozens of entreaties littering its SEDAR profile, Tilray has finally talked shareholders around.

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

© 2021 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.