Weathering the Storm: Cannabis Companies Confront Financial Turbulence and Seek Solace in Strategic Mergers and Restructuring

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Summary

HANetf launched this fund in January 2020 with assets totaling $8.6 million across different sectors within the medical cannabis, hemp, and CBD industries. Financial hardships, lack of viability, and changes in market conditions have contributed to restructuring plans, mergers, and unconventional agreements. In response to these challenges, MGC plans to implement a financial restructuring plan and issue new shares at a significant discount. Despite achieving operational milestones, MGC Pharmaceuticals faces financial difficulties due to adverse market conditions. Under this arrangement, Akanda will make the initial payment through shares using a formula outlined in the agreement.

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Despite achieving operational milestones, MGC Pharmaceuticals faces financial difficulties due to adverse market conditions. The company’s share price has nosedived by more than 98% since its listing on the London Stock Exchange, making it challenging for the organization to raise funds. In response to these challenges, MGC plans to implement a financial restructuring plan and issue new shares at a significant discount. With this move, the company aims to secure financial stability and provide innovative medicines globally.

The first cannabis company listed on the London Stock Exchange in 2021.Shares...

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