Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. CANADIAN NATIONAL STOCK EXCHANGE
  5. Thoughtful Brands Inc.
  6. News
  7. Summary
    TBI   CA8854722094

THOUGHTFUL BRANDS INC.

(TBI)
Delayed Quote. Delayed CANADIAN NATIONAL STOCK EXCHANGE - 07/07 12:07:55 pm
0.155 CAD   -8.82%
10/06Thoughtful Brands Inc. Announces Board Changes
CI
10/06THOUGHTFUL BRANDS : Announces appointment of director
PU
07/08CSE BULLETIN : Suspension - Thoughtful Brands Inc. (TBI)
NE
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Franchise Cannabis Corp. ("FCC") cancelled the acquisition of Thoughtful Brands Inc. (CNSX : TBI) ("TBI") in a reverse merger transaction.

03/08/2021 EDT

Franchise Cannabis Corp. ("FCC") entered into a binding letter of intent to acquire Thoughtful Brands Inc. (CNSX : TBI) ("TBI") in a reverse merger transaction for approximately CAD 220 million on January 6, 2021. Under the terms of the Letter of Intent, TBI will consolidate its outstanding share capital on a fifty-for-one basis (the "Consolidation") and will issue 78,400,000 post-consolidation common shares to the existing shareholders of FCC, valuing FCC at approximately CAD 196,000,000. Following completion of the transaction, it is anticipated that current TBI shareholders will hold approximately 10% of the merged company, with the balance held by current shareholders FCC and subscribers in the financing conducted concurrently with the transaction. The Transaction will involve the acquisition of all of the outstanding share capital of FCC by TBI, with the resulting Canadian reporting company being listed on the Canadian Securities Exchange (the "CSE") under the name Franchise Cannabis Corp. Completion of the Transaction remains subject to a number of conditions, including, but not limited to: negotiation of definitive documentation; receipt of any required regulatory approvals; the approval of the shareholders of TBI and FCC; completion of the Consolidation; completion of the Concurrent Offering for gross proceeds of not less than CAD 10,000,000 and resulting Canadian reporting company being listed on the Canadian Securities Exchange. The Transaction cannot be completed until these conditions are satisfied. There can be no assurance that the Transaction will be completed as proposed or at all.The Transaction is expected to be highly-accretive as both companies look to build on their complementary expertise to grow their respective businesses within the United States and Europe. Canaccord Genuity Corp. acted as financial advisor to FCC and its board of directors. Gowling WLG (Canada) LLP and Irwin Lowy LLP acted as legal advisors to FCC. Fiore Management & Advisory Corp. acted as financial advisor to TBI and its board of directors. Cassels Brock & Blackwell LLP acted as legal advisor to TBI. Franchise Cannabis Corp. ("FCC") cancelled the acquisition of Thoughtful Brands Inc. (CNSX : TBI) ("TBI") in a reverse merger transaction on March 8, 2021. In connection with termination of the merger transaction with FCC, Thoughtful Brands has agreed to pay FCC CAD 100,000 in cash and to issue FCC 5,000,000 common shares of Thoughtful Brands at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities laws. Following termination of the transaction, the Company intends to apply to the Canadian Securities Exchange for the reinstatement of trading in its common shares under the existing ticker symbol “TBI”


© S&P Capital IQ 2021
All news about THOUGHTFUL BRANDS INC.
10/06Thoughtful Brands Inc. Announces Board Changes
CI
10/06THOUGHTFUL BRANDS : Announces appointment of director
PU
07/08CSE BULLETIN : Suspension - Thoughtful Brands Inc. (TBI)
NE
07/08THOUGHTFUL BRANDS : IIROC Trading Halt - TBI
AQ
06/24Thoughtful Brands Inc. Announces Resignation of Directors
CI
04/12THOUGHTFUL BRANDS ANNOUNCES 10 : 1 Share Consolidation
PU
03/12THOUGHTFUL BRANDS : IIROC Trade Resumption - TBI
AQ
03/08THOUGHTFUL BRANDS : Merger with Franchise Cannabis Terminated
PU
03/08FRANCHISE CANNABIS CORP. ("FCC") CAN : TBI) ("TBI") in a reverse merger transaction.
CI
03/07570,000 Common Shares of Primary Cobalt Corp. are subject to a Lock-Up Agreement Ending..
CI
More news
Financials
Sales 2019 - - -
Net income 2019 -14,6 M -11,8 M -11,8 M
Net cash 2019 2,42 M 1,96 M 1,96 M
P/E ratio 2019 -1,25x
Yield 2019 -
Capitalization 6,03 M 4,88 M 4,88 M
EV / Sales 2018
EV / Sales 2019 -
Nbr of Employees -
Free-Float 99,9%
Chart THOUGHTFUL BRANDS INC.
Duration : Period :
Thoughtful Brands Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Ryan Dean Hoggan Chief Executive Officer
Joel Shacker President & Director
Geoffrey Balderson Chief Financial Officer
Salim Mithani Director
Tyler Lewis Director
Sector and Competitors