The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) and Citizen Stash Cannabis Corp (formerly Experion Holdings Ltd) (TSXV: CSC) (OTCQB: EXPFF) confirmed Tuesday that they have signed an agreement under which Valens will acquire all of the issued and outstanding common shares in an all-share transaction. The transaction is valued at approximately $54.3 million on an enterprise value basis.
The news comes on the heels of the Valens’ largest pre-roll manufacturing agreement to date.
Under the new deal, Citizen Stash shareholders will receive 0.1620 of a Valens common share for each Citizen Stash Common Share held. The exchange ratio implies a premium per Citizen Stash Common Share of approximately 35.1% based on the 15-day volume-weighted average price of the Citizen Stash Common Shares on the TSX-V …