The cannabis company Sundial Growers Inc. (SNDL) shares surged in the pre-market today as it rose 24% to $0.67.
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.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
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.