The Daily Chase: Markets muted on U.S. relief bill; Ontario readies for lockdown
Futures are pointing to a muted open on Wall Street as the US$900-billion COVID relief package awaits President Donald Trumpâs signature after U.S. lawmakers clear the bill last night. This morning weâve seen another update on the U.S. economy, with new figures showing a 33.4-per-cent expansion in the third quarter. But we all know COVID has take a big toll on output since then. Weâll get insight on how the worldâs largest economy has fared since then â and why the relief bill is needed â with Bloomberg Economics Editor Mike McKee at 9 a.m. ET, along with plenty of insight from market professionals throughout the day.
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Cannabis Co. Ayr Enters Fla., NJ With Deals Totaling $391M
Law360 (December 22, 2020, 4:08 PM EST) Multistate cannabis operator Ayr Strategies Inc. said Tuesday it will buy one of the largest pot companies in Florida for $290 million in a deal steered by five firms, coinciding with a $101 million medical marijuana acquisition in New Jersey.
The all-stock acquisition of Florida s Liberty Health Sciences was steered by Dorsey & Whitney LLP and Stikeman Elliott LLP for Ayr and Miller Thomson LLP, Nauth LPC and Greenspoon Marder LLP on the sell side. Ayr will pick up a cultivation facility and 28 operational dispensaries with 14 more in the pipeline, according to a press release.
Liberty Health Sciences Announces Strategic Acquisition by Ayr Strategies, Unlocking Significant Value for Shareholders
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TORONTO, Dec. 22, 2020 /PRNewswire/ - Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) (
Liberty or the
Ayr ) are pleased to announce that they have entered into a definitive arrangement agreement (the
Agreement ) pursuant to which Ayr will acquire all of the issued and outstanding shares (the
Liberty Shares ) of Liberty in an all-share transaction for a total consideration of approximately $372 million (or US$290 million) on a fully-diluted basis
1 (the
Proposed Transaction
Under the terms of the Arrangement, shareholders of Liberty will receive 0.03683 of a subordinate voting share or restricted voting share for each Liberty Share held (the
December 22, 2020 at 7:53 am Published by NCV Newswire
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Ayr Strategies Enters into Agreements to Expand Footprint with Strategic Acquisitions in Florida and New Jersey
Acquisitions Position Ayr as a Top-Tier MSO, Reaching 73 Million People Across Seven States
Ayr Management to Host Conference Call Today at 8:45 a.m. Eastern Time
TORONTO, Dec. 22, 2020 (GLOBE NEWSWIRE) Ayr Strategies (CSE: AYR.A, OTCQX: AYRWF, “Ayr” or “the Company”), a leading vertically integrated cannabis multi-state operator, today announced the proposed acquisition of Liberty Health Sciences (CSE: LHS, OTC: LHSIF, “Liberty”), a vertically integrated operator in Florida, in a stock-for-stock transaction valued at $290 million. Additionally, Ayr announced the proposed acquisition of the membership interests in GSD NJ LLC (“GSD”), a licensed ope
A Cannabis Consolidation Binge Is Creating Top Tier Companies Two more major deals were announced on Tuesday.
As the year comes to a close, the cannabis industry is on a consolidation binge. Two big deals were announced today piling on after last week s big move by Aphria (APHA) and Tilray (TLRY) . Ayr Strategies (AYRWF) is buying Liberty Health Science (LHSIF) in a deal valued at $290 million, and Columbia Care (CCHWF) is buying privately-held Green Leaf Medical in a deal valued at $240 million.
Ayr Strategies
Florida
Ayr Strategies has grown quickly through acquisition and this latest purchase gets the company exposure in two of the three best medical markets in the country. The all-stock deal for Liberty is valued at $290 million. In this transaction, Ayr will be getting Liberty s 387-acre cultivation campus in Gainesville, FL with over 300,000 sq. ft. of current production facilities in operation, 28 open retail dispensaries, seven completed and ready-to-open dispens