Syngenta was founded in the year 2000, following the merger of the agricultural segments of pharmaceutical firms Novartis and AstraZeneca.īefore accepting ChemChina's bid, the Swiss company had rejected an offer made by US-based rival Monsanto three times last year. This led to the review by CFIUS, an inter-agency committee that assesses the national security implications of foreign investments in US companies.įollowing Monday's announcement, Syngenta shares rose over 11 percent to around 424.90 Swiss francs (390.70 euros, $441.26) a share. The senators, from both the Republican and Democratic parties, asked that the planned deal be scrutinized for "any potential ramifications the purchase may have for American national security, with a specific focus on the potential effects on food security and the safety of our food system." There have been few hurdles to the planned deal in Switzerland, but it raised more than a few eyebrows in the United States, where much of Syngenta's business is based.Īt the end of March, four members of the US Senate agriculture committee wrote a letter to Treasury Secretary Jack Lew voicing their concerns. Initially, the companies had expected to wrap up the first part of the transaction by May 23, but the period has been prolonged twice as the companies waited for the verdict of various competition authorities now set for September 13.
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This would be by far the biggest-ever overseas acquisition made by a Chinese firm.ĬhemChina announced the mega deal in early February, vowing to dish out $465 for each Syngenta share, plus a special dividend. Still, they require approval from a number of other anti-trust regulators around the world, and both firms now expect the transaction to close by the end of the year. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.The planned $43-billion (38 billion-euro) takeover of Syngenta by ChemChina was approved by the Committee on Foreign Investment in the United States (CFIUS), the two companies said in a joint statement on Monday. This press release may contain forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. With long-term, high impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value. Greenbriar is a leading developer of renewable energy and sustainable real estate. The Company further grants 500,000 stock options at $1.25 with a three-year expiry. All securities are subject to a four (4) month hold period.
The warrants will have a three (3) year expiry commencing on the day the units are issued.
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Each unit comprises one common share plus one whole common share purchase warrant exercisable at $1.35 per warrant, converting into one full common share. Proceeds are for general working capital. The Company announces a private placement of 2,000,000 units at $1.25 per unit for total proceeds of $2,500,000. $123,719,669 Net Present Value based on a Discount Rate of 6% p.a. $173,940,459 projected net profit and a 66.7% profit on cost. $408,761,162 projected net residential revenue after 6% sales agent fees. Target average sales rate of $272 per square foot of saleable. There will be approximately 165 units per year.ĩ95 units, totaling 1,600,763 square feet saleable
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The entire 116-page report is confidential due to proprietary modelling software however, the Company may highlight the summary conclusion as follows in US currency:īuilt in 6 phases over approximately 6 years. (TSXV: GRB) (OTC Pink: GEBRF) (" Greenbriar") is pleased to announce that Altus Group Limited, the real estate industry's foremost recognized gold standard for feasibility analysis vetting for banks and lenders, has today issued its final report on the financial feasibility of Sage Ranch. 25 January 2022 - Greenbriar Capital Corp. Coquitlam, British Columbia - Newsfile Corp.
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