So AC8 had 317m shares on offer and a share price that was going nowhere.
With the acquisition and for an outlay of 124 million shares including the (1:3) they get a company that is about to enter a massive global animal market with a range of cannabis products - with approvals pending.
On this basis along with cannabis on the way to receiving legislation approval, the AC8 share price has gone from 13 cents to 25 cents.
There are not too many losers in this deal.
If CP1 had 1000,000,000 shares different ball game - they only have 93 million - it was a steal by AC8. The AC8 board recognised the opportunity and their timing was bloody perfect for all concerned.
CP1 Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
