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The latest announcement is out from Little Green Pharma Ltd. ( (AU:LGP) ).
Little Green Pharma has taken a key step toward its proposed acquisition of Cannatrek Ltd., confirming that the scheme booklet for the deal has been registered with ASIC and will be distributed to Cannatrek shareholders. The booklet outlines details of the scheme of arrangement under which Little Green Pharma aims to acquire 100% of Cannatrek, as well as the conditions requiring approval from both Cannatrek and LGP shareholders.
An independent expert from RSM Corporate Australia has concluded the scheme is fair and reasonable and in the best interests of Cannatrek shareholders, absent a superior proposal, bolstering support for the transaction. Both the Cannatrek and LGP boards have unanimously recommended their respective shareholders vote in favour of the scheme and related resolutions, underscoring strong board backing for a combination that could reshape their positioning in the medicinal cannabis sector.
The most recent analyst rating on (AU:LGP) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Little Green Pharma Ltd. stock, see the AU:LGP Stock Forecast page.
More about Little Green Pharma Ltd.
Little Green Pharma Ltd. is an Australia-listed medicinal cannabis company focused on producing and supplying cannabis-based therapeutic products. Through strategic acquisitions and corporate actions, it is seeking to expand its footprint in the medical cannabis market by integrating complementary operators into its platform.
Average Trading Volume: 208,144
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$33.64M
See more insights into LGP stock on TipRanks’ Stock Analysis page.