A small Florida-based pharmaceutical-grade cannabis company is set to open up big following an announcement that it is entering an agreement to be acquired by Ayr Strategies. Liberty Health Sciences Inc. (OTCQX:LHSIF) announced the acquisition in which Ayr will acquire all of the issued and outstanding shares of Liberty in an all-share transaction for a total consideration of approximately $290 Million on a fully-diluted basis.
Liberty Health Sciences Inc. is committed to delivering pharmaceutical-grade cannabis to patients. The company produces pharmaceutical-grade marijuana. It operates in the United States and Canada. The company generated most of its revenue from dispensary customers.
While shares have not changed hands at the time of this article, after yesterday’s close at $0.4206/share, the current bid for a sizable volume of 128,600 shares is at $0.60/share, implying a +42.6% move using in the bid as the proxy open price. This is a strong breakout as the company has been range bound for the last few months.
