01-09-2018, 11:42 AM
Same here. Wish I had more TFSA room! Just trimmed half of my position a few mins ago.
Partnership with Newstrike
01-09-2018, 12:07 PM
I was wondering when the first hip fan to post they were cashing out would be (even if it wasn't fully)
I know that there are some who feel the MJ stocks are due for a correction, including this Queen's professor and friend of the band who posts frequently about the pot industry/stocks and had this to say yesterday
Wish I was in a position to decide "not if, but when" to sell. Happy for those of you that do. And if you want to buy some Hip memorabilia with your profits, drop me a line :lol:
I know that there are some who feel the MJ stocks are due for a correction, including this Queen's professor and friend of the band who posts frequently about the pot industry/stocks and had this to say yesterday
Wish I was in a position to decide "not if, but when" to sell. Happy for those of you that do. And if you want to buy some Hip memorabilia with your profits, drop me a line :lol:
01-09-2018, 12:31 PM
Too volatile, but wow was this ever profitable! Used all my 2018 TFSA room to averge in at $.60 last week. As of 5 mins ago, totally out! Lifetime of TTH spending recouped!
01-09-2018, 12:34 PM
Also in agreement with Queens prof. Some of these valuations are too high (pun intended). At these levels, everyone will need to consume!!!
01-09-2018, 01:20 PM
133x sales is ridiculous, even for an emerging market.
1995-02-10 Toronto; 1996-12-12 Toronto; 1998-07-04 Hamilton; 1999-02-22 Toronto; 2000-06-24 Toronto; 2000-12-06 Ottawa; 2002-08-02 Toronto; 2004-10-23 Ottawa; 2007-01-31 Oshawa; 2007-02-02 Ottawa; 2011-07-01 Toronto; 2012-02-09 Oshawa; 2015-02-19 Toronto; 2015-04-15 Oshawa; 2016-08-18 Ottawa
01-09-2018, 03:16 PM
Nice improvement to the net worth of the band. Happy for them!
01-11-2018, 08:03 AM
timely update for growing partnerships given newstrike took a big sell-off yesterday:
<!-- m --><a class="postlink" href="https://forextv.com/top-news/newstrikes-up-cannabis-enters-into-exclusive-partnership-with-canadas-leading-entertainment-group-the-feldman-agency/">https://forextv.com/top-news/newstrikes ... an-agency/</a><!-- m -->
<!-- m --><a class="postlink" href="https://forextv.com/top-news/newstrikes-up-cannabis-enters-into-exclusive-partnership-with-canadas-leading-entertainment-group-the-feldman-agency/">https://forextv.com/top-news/newstrikes ... an-agency/</a><!-- m -->
01-11-2018, 10:17 AM
still dropping this morning
First ever venture into buying stock of any kind for me...interesting to follow along
First ever venture into buying stock of any kind for me...interesting to follow along
01-17-2018, 08:10 AM
Try trading at $1.08 as of 1/17/18. BIG OUCH
Victoria Royal Theatre 9/16/02, Burlington Memorial Auditorium 10/9/02, Vancouver GM Place 7/12/07, Chicago Vic Theatre 5/26&27/09, Chicago HOB 1/14/15, Victoria Save on Foods Memorial Center 7/22/16, Vancouver Rogers Arena 7/24&26/16, Toronto Air Canada Center 8/12&14/16, Kingston K-Rock Center 8/20/16
01-17-2018, 09:24 PM
redhill Wrote:if it gets under a buck i might get back on it
It's not that simple!! Be very careful:
<!-- m --><a class="postlink" href="http://business.financialpost.com/pmn/commodities-business-pmn/agriculture-commodities-business-pmn/newstrike-shareholders-overwhelmingly-support-cannimed-takeover-deal">http://business.financialpost.com/pmn/c ... eover-deal</a><!-- m -->
TORONTO — Shareholders of Newstrike Resources Ltd. (TSXV:HIP) voted overwhelmingly in favour of an acquisition by licensed cannabis producer CanniMed Therapeutics Inc. (TSX:CMED) at a special meeting today.
Approximately 99.4 per cent of the votes, representing more than 271.8 million outstanding common shares, were cast in support of a plan that would see Newstrike shareholders receive 33 CanniMed shares for each 1,000 shares of Newstrike.
The Tragically Hip, a major shareholder in Newstrike, last week threw its support behind the company’s friendly takeover by Saskatoon-based CanniMed.
However, the deal, which CanniMed says better positions the company for entry into the recreational cannabis market, is subject to approval from CanniMed shareholders at a special meeting scheduled for Jan. 23.
The final outcome of that deal remains uncertain, as CanniMed is also the target of an all-stock hostile takeover by Edmonton-based Aurora Cannabis (TSX:ACB) that is conditional on abandoning the Newstrike deal.
CanniMed has urged its shareholders to vote in favour of Newstrike, but three of the Saskatoon-based company’s biggest shareholders representing 38 per cent of outstanding shares have signed lock-up agreements backing Aurora’s bid.
01-17-2018, 09:29 PM
<!-- m --><a class="postlink" href="http://business.financialpost.com/news/pair-of-shareholder-votes-on-cannimed-merger-could-decide-fate-of-hostile-bid-by-aurora">http://business.financialpost.com/news/ ... -by-aurora</a><!-- m -->
The fate of the first major hostile takeover attempt in Canada’s burgeoning cannabis sector could be decided over the next week when shareholders at a pair of companies vote on a merger of their own.
On Wednesday, Ontario’s Newstrike Resources Ltd., the recreational cannabis company backed by the Tragically Hip, will vote on whether to merge with Saskatchewan’s medical marijuana-focused CanniMed Ltd. Shareholders of CanniMed will vote on the same deal the following Tuesday.
CanniMed has been locked in an increasingly fractious battle with larger rival Aurora Cannabis Inc., which is trying to take over CanniMed in a deal that is contingent on the Newstrike merger being rejected.
Both Newstrike CEO Jay Wilgar and CanniMed CEO Brent Zettl are urging shareholder support for the merger plan, which they say has been in the works since October.
The main stumbling block, however, in Wednesday’s vote could be Newstrike’s share price, which shot up from $0.64 on Jan. 2 to $2.95 on Jan. 9, before dropping back down to $1.34 by Tuesday.
“With the way the multiples work, Newstrike is now worth more than CanniMed,” said Jason Zandberg, an analyst with PI Financial Corp. “I believe it’s a 65, 35 merger, so (Newstrike shares) would be worth almost half in that transaction.”
Wilgar is hoping that his company’s shareholders look past the short-term moves in the market, which have made Newstrike investors richer but the merger with CanniMed less attractive.
“Certainly there’s been some short-term fluctuations in our share price, but we don’t make long-term strategic decisions based on a few days of trading,” said Wilgar, who added that CanniMed’s share price has been “somewhat artificially constrained” by the Aurora bid.
The idea that CanniMed shares are trading below where they should be was echoed by Zettl, who claims his company’s shares would be trading at between $45 and $75 if they weren’t “anchored by Aurora’s bid.”
It’s a claim that was put forward in an aggressive advertising campaign which included full page ads in national newspapers, including the National Post, and said CanniMed shares could be worth $49 if the Newstrike merger goes through.
Zandberg, however, questioned CanniMed’s optimistic valuations.
“(CanniMed) haven’t performed as well as Aurora has, but they hadn’t performed as well as Aurora had before the bid happened,” he said.
Even if Newstrike shareholders do vote in favour of the merger, the deal faces another hurdle next Tuesday, when CanniMed shareholders vote on the deal — a vote that’s happening against the backdrop of Aurora’s bid for CanniMed.
Aurora has been trying to acquire the company since November, when it began communicating with a major CanniMed shareholder. In mid November, Aurora made its bid known to CanniMed, having entered lock-up agreements worth around 38 per cent of the company at $24 a share.
The ensuing two months have been anything but friendly, with CanniMed trying, unsuccessfully, to prevent Aurora from buying more shares on the open market and launching a $725 million lawsuit against Aurora and a number of CanniMed’s own investors alleging conspiracy. Still, Aurora persisted, and is urging CanniMed shareholders to reject the Newstrike deal on Tuesday.
“Our offer to make CanniMed part of Aurora is contingent on the Newstrike deal being voted down,” said Aurora’s chief corporate officer Cam Battley, who said he is confident that CanniMed shareholders will vote against the Newstrike deal and eventually support the Aurora offer, which expires March 9.
A no vote from CanniMed shareholders would end Zettl and Wilgar’s hopes for the Newstrike deal.
But that wouldn’t necessarily mean that the Aurora takeover will succeed, according to Zandberg. Again, the issue is the surge in cannabis share prices over the past month, which has brought CanniMed’s share price above the $24 that was offered by Aurora.
“We’re losing faith that (the CanniMed and Aurora) transaction is going to go through,” Zandberg said. “It really has nothing to do with the fact that this isn’t the right thing for CanniMed shareholders. But because we’ve had this rally, and prices have moved up… Aurora would have to remove their (offer price) cap.”
Battely wouldn’t say whether Aurora was considering increasing the price on offer. But he did acknowledge the potential problem caused by surging prices. “The sector does have occasional pull-backs, it has seen a certain degree of volatility, so we will be monitoring the market conditions in the coming weeks,” he said.
The fate of the first major hostile takeover attempt in Canada’s burgeoning cannabis sector could be decided over the next week when shareholders at a pair of companies vote on a merger of their own.
On Wednesday, Ontario’s Newstrike Resources Ltd., the recreational cannabis company backed by the Tragically Hip, will vote on whether to merge with Saskatchewan’s medical marijuana-focused CanniMed Ltd. Shareholders of CanniMed will vote on the same deal the following Tuesday.
CanniMed has been locked in an increasingly fractious battle with larger rival Aurora Cannabis Inc., which is trying to take over CanniMed in a deal that is contingent on the Newstrike merger being rejected.
Both Newstrike CEO Jay Wilgar and CanniMed CEO Brent Zettl are urging shareholder support for the merger plan, which they say has been in the works since October.
The main stumbling block, however, in Wednesday’s vote could be Newstrike’s share price, which shot up from $0.64 on Jan. 2 to $2.95 on Jan. 9, before dropping back down to $1.34 by Tuesday.
“With the way the multiples work, Newstrike is now worth more than CanniMed,” said Jason Zandberg, an analyst with PI Financial Corp. “I believe it’s a 65, 35 merger, so (Newstrike shares) would be worth almost half in that transaction.”
Wilgar is hoping that his company’s shareholders look past the short-term moves in the market, which have made Newstrike investors richer but the merger with CanniMed less attractive.
“Certainly there’s been some short-term fluctuations in our share price, but we don’t make long-term strategic decisions based on a few days of trading,” said Wilgar, who added that CanniMed’s share price has been “somewhat artificially constrained” by the Aurora bid.
The idea that CanniMed shares are trading below where they should be was echoed by Zettl, who claims his company’s shares would be trading at between $45 and $75 if they weren’t “anchored by Aurora’s bid.”
It’s a claim that was put forward in an aggressive advertising campaign which included full page ads in national newspapers, including the National Post, and said CanniMed shares could be worth $49 if the Newstrike merger goes through.
Zandberg, however, questioned CanniMed’s optimistic valuations.
“(CanniMed) haven’t performed as well as Aurora has, but they hadn’t performed as well as Aurora had before the bid happened,” he said.
Even if Newstrike shareholders do vote in favour of the merger, the deal faces another hurdle next Tuesday, when CanniMed shareholders vote on the deal — a vote that’s happening against the backdrop of Aurora’s bid for CanniMed.
Aurora has been trying to acquire the company since November, when it began communicating with a major CanniMed shareholder. In mid November, Aurora made its bid known to CanniMed, having entered lock-up agreements worth around 38 per cent of the company at $24 a share.
The ensuing two months have been anything but friendly, with CanniMed trying, unsuccessfully, to prevent Aurora from buying more shares on the open market and launching a $725 million lawsuit against Aurora and a number of CanniMed’s own investors alleging conspiracy. Still, Aurora persisted, and is urging CanniMed shareholders to reject the Newstrike deal on Tuesday.
“Our offer to make CanniMed part of Aurora is contingent on the Newstrike deal being voted down,” said Aurora’s chief corporate officer Cam Battley, who said he is confident that CanniMed shareholders will vote against the Newstrike deal and eventually support the Aurora offer, which expires March 9.
A no vote from CanniMed shareholders would end Zettl and Wilgar’s hopes for the Newstrike deal.
But that wouldn’t necessarily mean that the Aurora takeover will succeed, according to Zandberg. Again, the issue is the surge in cannabis share prices over the past month, which has brought CanniMed’s share price above the $24 that was offered by Aurora.
“We’re losing faith that (the CanniMed and Aurora) transaction is going to go through,” Zandberg said. “It really has nothing to do with the fact that this isn’t the right thing for CanniMed shareholders. But because we’ve had this rally, and prices have moved up… Aurora would have to remove their (offer price) cap.”
Battely wouldn’t say whether Aurora was considering increasing the price on offer. But he did acknowledge the potential problem caused by surging prices. “The sector does have occasional pull-backs, it has seen a certain degree of volatility, so we will be monitoring the market conditions in the coming weeks,” he said.
05-24-2018, 08:50 AM
HIP.v and warrants getting killed today with another bought deal announcement. Glad I got out in Jan.
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