CannTrust Holdings Facility

Aleafia Health Rumoured to Be Placing Hostile Bid for Canntrust Holdings

Aleafia Health (TSX: ALEF) is rumored to be placing a hostile bid for Canntrust Holdings (TSX: TRST) (NYSE: CTST). The news was disseminated across a number of media outlets before being quickly pulled. Full details were expected to be released this morning based on sources.

Before being pulled from media outlets, it was reported that Aleafia would be paying approximately $4 per share in an all stock transaction. In all, its estimated that each Canntrust share would be translated to approximately 3.6 shares of Aleafia should shareholders approve of the offer. The transaction would be valued at $605 million.

Aleafia Health and Canntrust have a history of working together. The two parties signed a supply agreement late last year, which was to see Aleafia supply Canntrust with up to 15,000 KG of dried cannabis throughout 2019. The first shipment occurred in early January. Then, in May the duo announced a formal relationship wherein Aleafia would be supplied with certain genetics from Canntrust Holdings. Canntrust was to receive right of first refusal for purchasing the dried cannabis once it had been harvested and processed at Aleafia’s Scugog, Ontario facility.

While its not known when full details of the potential hostile bid will take place, it was originally anticipated to be announced this morning.


The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Arizona Metals: The Disappointing Kay Mine Resource Estimate

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Aleafia Health Harvests 31,200 Kilograms Of Flower From Outdoor Crop

Aleafia Health (TSX: AH) this morning released its cultivation results from the 2020 outdoor harvest,...

Friday, November 6, 2020, 08:51:26 AM

Canntrust Holdings Sees Health Canada Reinstate Cannabis Licenses At Fenwick Facility

Canntrust Holdings (OTC: CTST) appears to, somehow, be on the mend. The company announced this...

Friday, May 29, 2020, 08:02:15 AM

Bonify Holdings Reinstated: Is There Now Hope For Canntrust Holdings?

There might be hope for Canntrust Holdings (TSX: TRST) (NYSE: CTST) and its shareholders after...

Wednesday, October 23, 2019, 06:03:04 PM

Aleafia Health Revenues Crater 53.5% To $7.1 Million

It’s the tale of the Canadian public cannabis operator. Aleafia Health (TSX: AH) this morning...

Tuesday, May 11, 2021, 08:22:28 AM

The OSC Gave Up on CannTrust

Ontario’s securities Watchdog, pictured here in hot pursuit of CannTrust executives doing fraud. Best-in-class financial...

Thursday, December 15, 2022, 07:45:00 AM