VGWCF - VGW Stock Down Following Cider Company Acquisition

VGW stock is sinking on Tuesday after Valens GroWorks Corp (TSXV:VGW) (OTCQX:VGWCF) announced that it had acquired beverage firm Pommies Cider Co in order to create a platform for cannabis-infused beverages.

Infused beverages look set to be one of the most sought-after, and highly profitable, products in the cannabis 2.0 market, and Valens has seized on this opportunity with the $7.5 million CAD stock and cash deal. The takeover will see Valens take control of Pommies’ 32,000 square foot facility in the Greater Toronto Area, which is equipped with  ...