The cannabis company Sundial Growers Inc. (SNDL) shares surged in the pre-market today as it rose 24% to $0.67.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
The company has publicized no new update or development in the previous 24-hours. Still, last week Wednesday on December 30, 2020, it announced that it had completed a C$58.9 million or US$46 million acquisition of a particular purpose vehicle through the borrowing of its available cash reserves.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Read More
The particular purpose vehicle is the owner of C$58.9 million in senior secured debt issued by Zenabis Investment Ltd, a Zenabis Global Inc subsidiary.
Zenabis will also pay Sundial a royalty based on quarterly sales generated from its medical, recreational, and wholesale cannabis businesses. The loan has an interest rate of 14% annually and matures on March 31, 2025. U.S.-listed shares of Sundial closed at 46 cents on Tuesday after once being valued at $1 billion.
