Canadian cannabis stocks are set to riseCanadian cannabis stocks are set to rise on positive news from Aleafia Health Inc. that it is about to finish paying off convertible bonds in the amount of $25 million.
This comes after shares in Canopy Growth (CGC) saw significant growth following reports that the company had come to an agreement to acquire Acreage Holdings Inc. Under the terms of the deal, Canopy will be able to take control of the company as soon as US federal laws on cannabis are relaxed. Acreage will continue to operate independently but will have access to Canopy's intellectual property, branding, product recipes and patents.
Nevertheless, there were also some negative developments for the market, with Governor of New Hampshire Chris Sununu vetoing a bill that would open up governmental medical cannabis to commercial enterprises. This bit of news came as a serious setback to entrepreneurs who were hoping to set up businesses were the bill to have been passed.
Our financial scouts believe that the Canadian cannabis market is likely to rebound from this recent positive corporate news wave. With this in mind, they see share price rises for all of the major producers in this sector, with Canopy Growth, Aurora Cannabis (ACB) and Tilray (TLRY) tipped to rise to $42-43, $8-8.5 and $47 respectively. Elsewhere, they predict Aphria (APHA) will rise to
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Libertex is an international brand with a twenty years history in financial markets and online commerce. Libertex provides investors with access to trading stocks, currencies, indices, commodities, gold, oil, gas and many other financial instruments. The Libertex team has more than 2,200,000 customers in Latin America, Europe and Asia owing to its first-class service. Libertex has more than 150 commercial instruments. In 2016, Libertex was recognized by Forex EXPO Awards as the best trading platform; and Global Banking and Finance Review named it the best trading application in the EAEU. Libertex is the best trading application and the best crypto currency broker according to Forex Awards 2017.
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