Canadian cannabis company Entourage Health Corp. plans to go private in a deal with its primary investor and lender, a major pension fund.
According to a purchasing agreement with 1001007762 Ontario Inc., the affiliate of LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) will acquire all of Entourage’s issued and outstanding common shares for 0.005 Canadian dollars per common share.
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“After thorough evaluation, the Special Committee is confident that the proposed Transaction offers the most favourable outcome for the Company and its shareholders in light of the current challenges and the upcoming expiration of the current forbearance agreement,” Jason Alexander, director and chair of the special committee of independent directors for Entourage, said in a statement.
“The Transaction ensures shareholders receive immediate, tangible
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