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Here are some selected news articles from the week ended 06 March 2021. Part 2 is available here.
This is a feature at
Global Economic Intersection every Monday evening or Tuesday morning.
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Fuel supplies drop most on record as US oil refining collapses, leading to largest ever jump in oil supplies
Refinery utilization at an all time low, 10% lower than it s ever been; oil refined is least on record; record jump in oil inventories, record drop in gasoline inventories; distillates production at a 26 year low, distillates inventories drop most in 18 years; largest jump in oil imports in 39 weeks.
February 25, 2021 at 7:31 am Published by NCV Newswire
Acreage Announces Sale of Florida Operations To Red White & Bloom Brands
NEW YORK, Feb. 25, 2021 (GLOBE NEWSWIRE) Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRDF, ACRHF) today announced its subsidiary, High Street Capital Partners, LLC, has entered into a definitive agreement with Red White and Bloom Brands, Inc. (the “Buyer”) (CSE: RWB) (OTCQX: RWBYF), pursuant to which the Buyer will purchase all of the issued and outstanding shares of common stock of Acreage Florida, Inc. (“Acreage Florida”) for an aggregate purchase price of $60,000,000. Acreage Florida is licensed to operate medical marijuana dispensaries, a processing facility, and a cultivation facility in the state of Florida. The deal also includes the sale of property in Sanderson, Florida.
Endeavour Mining Corporation: Endeavour Announces the Sale of its Non-Core Agbaou Mine
NON-CORE AGBAOU MINE
Abidjan, January 22, 2021 - Endeavour Mining (TSX:EDV) (OTCQX: EDVMF) is pleased to announce that it has entered into an agreement (the Agreement ) to sell its 85% interest in its non-core Agbaou mine in Côte d Ivoire to Allied Gold Corp ( Allied Gold ) for a consideration of up to $80 million with further upside through its equity exposure and a Net Smelter Return ( NSR ) royalty.
Sébastien de Montessus, President and CEO of Endeavour, commented: The sale of our interest in the Agbaou mine to Allied Gold is in line with our strategy of actively managing our portfolio to focus management efforts on high margin, long-life core assets.
Bitrush Corp. Announces Sale of Adbit Platform ACCESSWIRE
BitRush or the
Company ) is pleased to announce that it has sold its AdBit ad brokerage platform to an arm s length third party (the
Buyer ) for the sum of $1.00 and the assumption by the Buyer of certain liabilities. The AdBit platform has been dormant for some time and is effectively obsolete in its current format. Accordingly, management concluded that it would not expend its own resources to reactivate and further develop the platform and that it would be beneficial to the Company to have a third party with the dedicated resources and knowledge to operate and develop the platform while retaining a potential economic interest therein and disposing of associated liabilities in the operation of the platform. Pursuant to the Asset Purchase Agreement dated December 31, 2020 entered into between the parties, the Company will receive, as additional consideration for the sale of the AdBit platform, 25% of all mont