27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Auxly Cannabis Group Inc. (OTC:CBWTF) announced Wednesday the closing of a transaction with Imperial Tobacco Group plc (OTC:IMBBY).
As previously announced in July, Imperial Brands invested CA$123 million ($92.8 million) in Auxly by way of a debenture that is convertible into 19.9% ownership of the cannabis company.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Imperial is providing Auxly with global licenses to its vaping technology and access to its vapor innovation business, and will make Auxly its exclusive partner for its cannabis business operations, according to Wednesday's announcement.
“We are delighted to announce the closing of this transaction to formally mark the start of our strategic partnership with Imperial Brands,” Auxly CEO Hugo Alves said in a statement.
“We believe there is considerable opportunity for growth and value creation for both companies. We are looking forward to working with the incredibly strong team at Imperial Brands as we prepare to launch our portfolio of branded derivative products, formulated and manufactured at our subsidiary, Dosecann, later this year. “
Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
Auxly is appointing Imperial's Conrad Tate to its board as a director and John Downing as a non-voting observer.
“I’m thrilled to be closing this transaction with Auxly, a dynamic, highly skilled organization that has all the ingredients required for delivering success in the branded derivatives market and beyond,” Tate, Imperial Brands' new corporate development director, said in a statement.
“We’re excited by the opportunities this partnership offers and look forward to working with Auxly to build its business and realize its significant future growth potential.”
Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.
Photo courtesy of Imperial Brands.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.