CANOPY GROWTH BUYING US FIRM ACREAGE HOLDINGS INC.
- Canopy Growth is the first Canadian cannabis company to take over a US cannabis company.
- Canopy has entered into an agreement which gives it the ‘right’ to acquire 100% of Acreage Holdings Ltd. when cannabis is federally legalized in the US, total value of US$3.4 billion.
- Acreage has cannabis related licenses in 20 states. It runs 87 retail stores and 22 cultivation and processing sites.
- Former Prime Minister Brian Mulroney is Acreage’ board of directors.
- Acreage shareholders will receive an immediate payment of US$2.55 per share (US$300 million).
- Once cannabis is federally legal in the US and Canopy exercises its right, Canopy will pay an additional 0.5818 Canopy share for each Acreage subordinate voting shares.
- People born in developing countries sent a combined $5.2 billion back home in 2017.
- 37% of people born in developing countries and living in Canada sent money home, on average $2,855.
- Top destinations for money transfers were: Philippines, India, China and Pakistan.
- 59% of the funds transferred were intended to help pay basic living expenses in the home countries.
- Debt-to-income ratio for established immigrant families hit 217% in 2016 because of large mortgages.
- Average house price is $481,745 down 2% Y/Y. (source: Cdn Real Estate Association)
- House prices in Calgary, Edmonton and Regina were down by more than 4% Y/Y.
- Federal government’s new mortgage stress test was responsible for a drop of $15 billion in residential mortgage borrowing in 2018.
- If the concentration of CO2 continues to rise, policy makers will have to plan for a world with significantly higher temperatures or rely on untested strategies to remove CO2 from the air.
- Based on current trends, limits will be reached sometime between the late 2020s and the late 2030s leaving less than 10-20 years to make profound changes.
- Energy systems are notorious for changing slowly because they are long-lived capital investments.
- 73% of Americans (87% of millennials and 41% of boomers) think global warming is a problem.
- Microsoft is joining Exxon, Shell, BP, and various high profile Republicans in a climate advocacy group.
- Toronto’s HackerYou College of Technology is launching a new Income Share Agreement that enables a student to go to school for free (cost $12,000) in exchange for repaying the tuition over 24 months once they earn $50,000 per year.
- Canada is insisting on simulator training for the 737 MAX, disregarding the FAA’s recommendation for computer based training only.
- India will start mass producing iPhones later this year.