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An update from Little Green Pharma Ltd. ( (AU:LGP) ) is now available.
Little Green Pharma has released a supplementary scheme booklet for its proposed acquisition of Cannatrek, after receiving Federal Court approval to dispatch the document. The booklet updates shareholders on the transaction timetable and provides further detail regarding LGP’s previously announced and subsequently terminated sale and leaseback plans for its South-West Western Australia production facility.
The Independent Expert has reaffirmed its view that the scheme is fair and reasonable and in the best interests of Cannatrek shareholders, with no change to its opinion or to the boards’ recommendations. Both the Cannatrek and LGP boards continue to unanimously back the deal, urging their respective shareholders to vote in favour, ahead of a second court hearing that will follow if the required majorities approve the scheme.
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 Australian-listed medicinal cannabis company focused on cultivating, producing and supplying cannabis-based medicines. The company targets domestic and international markets, and is expanding its scale and capabilities through strategic acquisitions such as the proposed purchase of Cannatrek Ltd., another Australian medicinal cannabis operator.
Average Trading Volume: 177,397
Technical Sentiment Signal: Sell
Current Market Cap: A$28.75M
See more data about LGP stock on TipRanks’ Stock Analysis page.