Brief: Weedmd Says Entered Into A Definitive Agreement To Acquire Starseed Holdings Inc

Entourage Health

29/11/2019 21:08

Nov 29 (Reuters) - WeedMD Inc  WMD.V :
    * WEEDMD REPORTS THIRD QUARTER 2019 FINANCIAL RESULTS AND
ANNOUNCES STRATEGIC COMBINATION WITH STARSEED
    * WEEDMD INC -  ACCRETIVE ALL-STOCK TRANSACTION ON STARSEED
    * WEEDMD - ENTERED INTO A DEFINITIVE AGREEMENT TO ACQUIRE
STARSEED
HOLDINGS INC, A MEDICALLY-FOCUSED, FEDERALLY-LICENSED CANNABIS
COMPANY
    * WEEDMD INC - ALL-SHARE ACQUISITION IS VALUED AT
APPROXIMATELY
$78 MILLION
    * WEEDMD INC - LABOURERS' PENSION FUND OF CENTRAL AND
EASTERN
CANADA WILL MAKE A CONCURRENT $25 MILLION EQUITY INVESTMENT
DIRECTLY INTO CO
    * WEEDMD INC - NET REVENUE FOR Q3 2019 WAS $6.7 MILLION,
REPRESENTING AN INCREASE OF $4.7 MILLION OR 232% YEAR OVER YEAR
    * WEEDMD INC - Q3 2019 GROSS PROFIT BEFORE CHANGES IN FAIR
VALUE
WAS $1.9 MILLION, A 29% GROSS MARGIN IN Q3 VERSUS 46% IN PRIOR
QUARTER

Source text for Eikon:  ID:nGNX2xcQF5 
Further company coverage:  WMD.V 

 ((Reuters.Briefs@thomsonreuters.com;))