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GGTTF

GTEC Holdings

$0.00

(0.00%)

, CGC

Canopy Growth

$35.48

-0.315 (-0.88%)

08:43
07/22/19
07/22
08:43
07/22/19
08:43

GTEC Holdings to acquire facility in Kelowna BC for $13M

GTEC Holdings (GGTTF) announce that GTEC and Canopy Growth Corporation (CGC) entered into a purchase and sale agreement pursuant to which GTEC, subject to certain conditions set out below, will acquire the second expansion site in Kelowna, BC of Canopy Growth. Assuming completion of the Transaction and receipt of a cultivation license by Health Canada, the Facility is estimated to increase GTEC's annual production capacity by 4,000 kg, bringing the Company's total projected annual output to 18,000 kg throughout 160,000 sq. ft. of indoor flowering space by 2020. The Facility is near completion and has been built out to specs and standards that adhere to GTEC's mandate to produce premium flower in purpose-built indoor facilities. The cost to complete construction of the Facility is estimated to be approximately $2M. Health Canada recently announced changes on May 8th, 2019 requiring new applicants for licenses under the Cannabis Act & Regulations to have a fully built site at the time of their application. Given that the Facility is near completion, GTEC anticipates that it will be ready to submit its application and evidence package to Health Canada within a timely manner, and - subject to the closing of the Transaction and receiving Health Canada approval - to commence cultivation in early 2020. The purchase price of the Facility is $13M, which includes, among other things: all rights; title and interest to the land; growing equipment; and project-related documents. In connection with the PSA dated May 16, 2019, GTEC provided a refundable deposit of $250,000 and will be required to provide an additional $500,000 non-refundable deposit upon satisfaction, on or before August 15, 2019. The board of directors of GTEC approved the Transaction, subject to ongoing due diligence and receipt of satisfactory financing. The Transaction remains subject to the approval of the TSX Venture Exchange. Assuming the aforementioned conditions are met, the Transaction would close on or about October 15th, 2019.

GGTTF

GTEC Holdings

$0.00

(0.00%)

CGC

Canopy Growth

$35.48

-0.315 (-0.88%)

GGTTF GTEC Holdings
$0.00

(0.00%)

CGC Canopy Growth
$35.48

-0.315 (-0.88%)

07/05/19
07/05/19
DOWNGRADE

Canopy Growth downgraded to Neutral from Buy at Bryan Garnier
Bryan Garnier analyst Nikolaas Faes yesterday downgraded Canopy Growth to Neutral from Buy and lowered his price target for the shares to C$60 from C$85.
07/08/19
PIPR
07/08/19
NO CHANGE
Target $54
PIPR
Overweight
Canopy Growth price target lowered to $54 from $57 at Piper Jaffray
Piper Jaffray analyst Michael Lavery lowered his price target for Canopy Growth to $54 from $57 citing the company's slower than expected retail rollout. The analyst, however, reiterates an Overweight rating on the shares. Further retail openings in Canada, especially Ontario, will drive Canopy's market growth, but they continue to progress at a very slow pace, Lavery tells investors in a research note. California has $200M in monthly sales while Canada has only $60M, despite similar population sizes, the analyst points out. Further, Lavery believes the termination of Co-CEO Bruce Linton "likely signals more discipline to come." A successor could bring a more disciplined approach that investors are likely to welcome, contends the analyst.
07/17/19
LTCO
07/17/19
INITIATION
Target $50
LTCO
Buy
Canopy Growth initiated with a Buy at Ladenburg
Ladenburg Thalmann analyst Glenn Mattson started Canopy Growth with a Buy rating and $50 price target. Within the cannabis space, the analyst favors Canadian companies who are focused on long-term value creation and gaining market share as well as those with a well-defined plan for potentially entering the U.S. market. He initiated coverage on the cannabis space with a "bullish long-term outlook." Despite slower than expected growth in the most recently reported quarter, Canopy Growth remains one of the best ways to play the cannabis space, Mattson tells investors in a research note. Given its "significant" balance sheet, Canopy has the greatest flexibility to go after new growth opportunities as they emerge, says the analyst.
07/17/19
LTCO
07/17/19
INITIATION
Target $18
LTCO
Buy
Acreage Holdings initiated with a Buy at Ladenburg
Ladenburg Thalmann analyst Glenn Mattson started Acreage Holdings (ACRGF) with a Buy rating and $18 price target. Within the cannabis space, the analyst favors Canadian companies who are focused on long-term value creation and gaining market share as well as those with a well-defined plan for potentially entering the U.S. market. He initiated coverage on the cannabis space with a "bullish long-term outlook." Acreage has a "solid position" in the most attractive areas of the U.S., Mattson tells investors in a research note. Further, the company trades at a "significant discount" to the implied conversion from the proposed Canopy Growth (CGC) transaction, which will execute upon federal legalization of cannabis in the U.S., the analyst ads.

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UPS

UPS

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1.61 (1.35%)

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BA

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MCF

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GLD

SPDR Gold Shares

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VXRT

Vaxart

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AAPL

Apple

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IIVI

II-VI

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, CPE

Callon Petroleum

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PSMT

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

, JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

17:26
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NVR to replace Jefferies Financial Group in the S&P 500 at open on September 26 »

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$3,632.55

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JEF

Jefferies Financial Group

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SPB

Spectrum Brands

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  • 16

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NOC

Northrop Grumman

$368.25

-7.45 (-1.98%)

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

$24.31

1.25 (5.42%)

17:23
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  • 30

    Oct

IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

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$4.53

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

17:20
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NHYDY

Norsk Hydro

$0.00

(0.00%)

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RESN

Resonant

$3.05

0.02 (0.66%)

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Resonant participates in a conference call with Loop Capital »

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NINE

Nine Energy Services

$6.73

-0.33 (-4.67%)

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ATOM

Atomera

$3.70

0.17 (4.82%)

17:00
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Conference/Events
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MPWR

Monolithic Power

$154.21

-2 (-1.28%)

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Conference/Events
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AAPL

Apple

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IDA

IDACORP

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MO

Altria Group

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EADSY

Airbus

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, AL

Air Lease

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  • 13

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Options
Preliminary option volume of 23.5M today »

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PSX

Phillips 66

$103.26

0.14 (0.14%)

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  • 25

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POST

Post Holdings

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0.335 (0.32%)

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