Curaleaf Completes Acquisition of EMMAC and Secures US$130 Million Investment from a Single Strategic Institutional Investor
Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) (âCuraleafâ or the âCompanyâ), a leading international provider of consumer products in cannabis has successfully completed the previously announced acquisition of EMMAC Life Sciences Limited (âEMMACâ), the largest vertically integrated independent cannabis company in Europe, for base consideration of approximately US$50 million in cash and 17.5 million shares of Curaleaf, with additional consideration to be paid based upon the successful achievement of performance milestones. Curaleaf has simultaneously established Curaleaf International Holdings Limited (âCuraleaf Internationalâ) in Guernsey to hold the EMMAC investment and further its European expansion.
Curaleaf Completes EMMAC Acquisition, Sells Stake in New International Operation
Chris Furnari - Apr 07, 2021 at 11:21 AM
Curaleaf Holdings has completed its acquisition of Europe’s EMMAC Life Sciences and brought on a new minority partner in the process.
In a news release, Curaleaf said it raised $130 million from an unnamed strategic institutional investor by selling a 31.5% equity stake in its newly established Curaleaf International Holdings business, which holds the EMMAC investment.
According to Curaleaf, the equity sale will fund the $50 million cash component of the EMMAC purchase and leave the company with $80 million to spend on capex and potential future acquisitions. It also values the international business unit at $413 million.
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Suven Life Sciences Limited allots 1,81,00,000 convertible warrants
Posted On: 2021-04-02 01:11:55 (Time Zone: Arizona, USA)
In terms of the special resolution passed by the Members of Suven Life Sciences Limited at its Extra-Ordinary General Meeting held on 20th March, 2021 and in accordance with the In-principle approval granted by the NSE and BSE, the Board of Directors of the Company in its meeting held today i.e. 02nd April, 2021 has allotted 1,81,00,000 (One crore eighty one lakh) Warrants convertible into Equity Shares to Jasti Property and Equity Holdings Private Limited (In its capacity as sole trustee of Jasti Family Trust), promoter group entity at an issue price of Rs. 81.57/- per Warrant on preferential basis in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Eris Lifesciences Limited reappoints MD and Whole-Time Director
Posted On: 2021-04-01 03:01:53 (Time Zone: Arizona, USA)
Based on the recommendation of the Nomination and Remuneration Committee and their own consideration, the Board of Directors of Eris Lifesciences Limited at their meeting held on 31st March 2021 has approved the re-appointment of Mr. Amit Bakshi (DIN: 01250925) as a Managing Director of the Company for a further period of five (5) years with effect from April 1st 2021, subject to the approval of the shareholders, in the usual course.
The board also approved the re-appointment of Mr. Inderjeet Singh Negi (DIN: 01255388) as a Whole-Time Director of the Company for a further period of five (5) years with effect from April 1st 2021, subject to the approval of the shareholders, in the usual course.