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Little Green Pharma Ltd. ( (AU:LGP) ) has shared an announcement.
Little Green Pharma Ltd, an ASX-listed medicinal cannabis producer, is pursuing growth through the proposed acquisition of Cannatrek Ltd via a scheme of arrangement. The combined group would deepen its presence in Australia’s regulated medical cannabis sector by integrating Cannatrek’s operations and capital base.
The company reported that Cannatrek has reached an in-principle agreement with Australia’s Therapeutic Goods Administration over historical advertising breaches, with an anticipated civil penalty expected to fall within the transaction’s agreed economic parameters. Little Green Pharma also noted that, if the merger completes, Cannatrek intends to contribute an estimated additional $6.5 million in capital at completion, while conditions precedent for the scheme are not expected to pose issues ahead of a virtual shareholder meeting to approve new share issuance for the transaction.
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-based medicinal cannabis company listed on the ASX. It focuses on cultivating, manufacturing and supplying therapeutic cannabis products, with a strategy of expanding its footprint in the regulated medical cannabis market through acquisitions and partnerships.
Average Trading Volume: 131,397
Technical Sentiment Signal: Sell
Current Market Cap: A$30.28M
For detailed information about LGP stock, go to TipRanks’ Stock Analysis page.