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Parma Wellness Center LLC in a deal worth $17 million in cash. The agreement requires authorization from the Ohio Department of Commerce. The multi-state cannabis operator, or MSO, seeks to acquire 100% of the membership interest of the Parma’s management company and related real estate. The $17 million will be divided with $13 million set for the management company interest and the remaining $4 million for real estate. The transaction is expected to close during the first quarter of the following year. Parma owns a provisional level 1 medical marijuana cultivator license, with original building plans for 25,000 sqare feet of canopy in a 58,000 square-foot building, which Ayr may later further advance, upon attaining necessary authorizations. ....
December 18, 2020 at 9:04 am Published by NCV Newswire Expected Closing in First Quarter 2021 TORONTO, Dec. 18, 2020 (GLOBE NEWSWIRE) Ayr Strategies Inc. (CSE: AYR.A, OTCQX: AYRSF) (“Ayr” or the “Company”), a vertically-integrated cannabis multi-state operator (MSO), has moved to a Definitive Merger Agreement from Letter of Intent with the management company of Parma Wellness Center, LLC (“Parma”). The Merger Agreement is subject to approval by the Ohio Department of Commerce. As previously announced on October 1, 2020, Ayr intends to purchase 100% of the membership interests of the management company of Parma and associated real estate for total purchase consideration of US$17 million in cash. The purchase consideration will be allocated as $13 million for the management company interests and $4 million for real estate. ....
Ayr Strategies Moves to Definitive Merger Agreement with Parma Wellness Center, LLC globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
The Week In Cannabis: Tilray-Aphria Merge, Aurora Continues Layoffs, Financings, Earnings, M&A Benzinga 12/18/2020 Aphria (NASDAQ: APHA) and Tilray (NASDAQ: TLRY). Benzinga spoke with Aphria CEO and chairman Irwin D. Simon, who will maintain those two positions in the new company, and Tilray CEO Brendan Kennedy, who will serve in the new corporation’s board of directors. The executives shared details on how the deal came to be, and their expectations for the future, which, they say, doesn’t include massive layoffs. Cantor Fitzgerald’s analyst Pablo Zuanic praised the merger. The Canadian cannabis sector is in need of consolidation due to the oversupply problems and “historically low ï¬ower retail prices,” he explained. ....