NZ's Cannasouth jumps on deal to sell unit's assets

Cannasouth

22/12/2022 02:00

** Shares of Cannasouth Ltd  CBD.NZ  jump as much as 5.3% to
NZ$0.3, eyeing their best day since Oct. 7, if gains hold
    ** Biopharmaceutical company signs sale and purchase
agreement of assets of co's manufacturing unit, Midwest
Pharmaceutics NZ Ltd  urn:newsml:reuters.com:*:nNZW217QJz
    ** Deal for NZ$2.2 mln ($1.39 mln)
    ** Stock down 23.3% this year, as of last close
($1 = 1.5870 New Zealand dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))