Emerald Completes Issuance of Shares in Lieu of Cash Due for Verdélite Acquisition

OTCQX: EMHTF) today announced that the vendors (the “Vendors”) of Verdélite Sciences, Inc. and Verdélite Property Holdings, Inc. (collectively, “Verdélite”) have received 2,129,707 shares of Emerald (the “Shares”) in lieu of $7.5 million of the $22.5 million they were to receive as the final payment for their shares of Verdélite. Each Share was valued at $3.5216, the five-day volume-weighted average price of the common shares of Emerald on the TSX Venture Exchange (the “TSXV”), discounted 10%, calculated as of April 30, 2019. The agreement to receive shares in lieu of cash was previously announced by the Company on May 1, 2019.

READ MORE: https://finance.yahoo.com/news/emerald-completes-issuance-shares-lieu-120000622.html?.tsrc=rss