CannPal Animal Therapeutics (ASX:CP1) ceases trade on ASX, gets acquired by AusCann Group (ASX:AC8)

CannPal Animal Therapeutics Limited (ASX:CP1) shares stopped trading on the ASX after the Company was acquired by AusCann Group Holdings Ltd (ASX:AC8).

The scheme got legally effective after the Court approved it and the arrangement was lodged with the Australian Securities and Investments Commission today.

It should be noted that the shareholders in CP1 will be getting 1.3 new AusCann shares for every CannPal share possessed on the record date of 15 March 2021. The new shares will be transferred on 8 March 2021.

While, CanPal stopped trading at A$0.170 per share, AC8 was trading at A$0.150, up 3.448% at 10:24 AM AEDT.

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