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Top Penny Stocks to Watch With Important Announcements
With May well underway, penny stocks are very much still in focus. But, several industries are seeing more attention than others. Right now, this includes biotech stocks, blockchain stocks, and others. While penny stocks do trade off of fundamentals, usually speculative factors can have a greater impact. This is something that simply comes with the territory.Â
Now, the large effect of speculation on certain penny stocks to buy, means that investors need to watch the market intently and regularly. While not all traders use a swing trading method, most tend to use short-term methods when trading penny stocks. This is due to their high volatility and large intraday price swings. [Read More] What Are Penny Stocks? 2 Top Trading Tips for 2021
The head of Trulieve Cannabis Corp. expects to see more M&A activity sweep over the U.S. cannabis market amid looking pressure from federal and state officials to fully legalize the drug.
Kim Rivers, chief executive officer at Trulieve, said alongside reform measures set to be introduced into U.S. Congress that could legalize cannabis federally, there s also been a recent rush of states including New York, New Jersey, and Virginia to create new cannabis markets which will ultimately bring more U.S. pot deals. There has just been a continuing of sweeping of cannabis laws coming into effect across the country, Rivers said during a broadcast interview on Monday.
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NEW YORK, May 10, 2021 /PRNewswire/ WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Harvest Health & Recreation Inc. ( Harvest or the Company ) (OTC: HRVSF) in connection with the proposed acquisition of the Company by Trulieve Cannabis Corp. ( Trulieve ) (OTC: TCNNF). Under the terms of the merger agreement, Harvest shareholders will receive 0.1170 shares of Trulieve common stock for each Harvest share that they own, representing implied per-share merger consideration of approximately $4.79 based upon Trulieve s May 7, 2021 closing price of $40.92. Upon consummation of the transaction, current Harvest shareholders will own only 26.7% of the issued and outstanding pro forma Trulieve shares.
Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX: HRVSF) for roughly $2.1 billion.
The move follows Trulieve s recent $6 million purchase of Mountaineer Holding LLC, a West Virginia-based vertically integrated seed-to-sale and fully licensed medical marijuana company.
The Trulieve-Harvest Deal: Florida-based Trulieve agreed to acquire all of Harvest’s issued and outstanding subordinate voting shares, multiple voting shares as well as super-voting shares.
Under the terms of the agreement, Harvest shareholders will obtain 0.1170 of subordinate voting shares of Trulieve for each Harvest share priced at $4.79.
Once the deal is closed, Harvest shareholders will own roughly 26.7% of Trulieve s issued and outstanding pro forma shares (on a fully diluted basis).