Cannabis Canada Daily: Aleafia, Emblem Strike a Deal as Pot M&A Warms Up
Aleafia to buy Emblem for $173M in all-stock deal
With so many publicly-traded Canadian cannabis producers in the market, it was only a matter of time before companies looked to consolidate further to maximize their growth potential. While analysts widely expected that to start in the coming quarters to better assess how the rollout of legal recreational cannabis fared, that consolidation kicked off when Aleafia Health announced it would acquire Emblem for $173 million in an all-stock deal. BNN Bloomberg was first to report the takeover deal that will combine two mid-tier cannabis producers into a significant player in the medical marijuana space while providing Aleafia with an entry into the nascent recreational cannabis market that Emblem already operates in.
Wayland Group to explore strategic alternatives amid share slump
Wayland Group announced Wednesday the company is “exploring a broad range of strategic alternatives” amid a decline in its share price over the past several months. Wayland, formally known as the Maricann Group, said in a news release that these alternatives include a potential spin-out of its international or Canadian assets as well as a possible European listing. “The company strongly believes in its current strategy; however, it does not believe