Globe says Cannabis rivals hear new drug laws favoured : Organigram Holdings Inc (C:OGI)

 Globe says Canopy, rivals hear new drug laws favoured

Canopy Growth Corp (C:WEED)
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Wednesday February 24 2021 - In the News

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The Globe and Mail reports in its Wednesday edition that a majority of Canadians support the decriminalization of illicit drugs as part of the response to escalating drug deaths. The Globe's Andrea Woo writes that Angus Reid Institute surveyed 5,003 Canadian adults on their views and experiences relating to "Canada's other epidemic," as well as interventions they support to combat it, releasing its findings on Wednesday. It found that 59 per cent of respondents nationally -- a majority in every province except Saskatchewan and New Brunswick -- favoured removing criminal penalties for possessing small amounts of illicit drugs. British Columbia had the highest level of support, at 66 per cent. Only 45 per cent and 49 per cent of respondents in Saskatchewan and New Brunswick supported decriminalization. The survey was conducted Nov. 12 and 16. Support for drug decriminalization has gained momentum as record overdose deaths put pressure on governments to explore all options. Vancouver is in talks with Health Canada about decriminalizing on its own, while B.C. inquired this month about doing so provincially. Cities including Victoria, Toronto and Montreal have asked Ottawa to take action federally.

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SCR:TSX $183 million by offering 5 million shares at $36.52,

 

Canadian sports media and betting company Score Media and Gaming files for a $183 million US IPO

core Media and Gaming, a Canadian provider of sports-focused digital media and betting products, filed on Monday with the SEC to raise up to $183 million in an initial public offering.

The Toronto, Canada-based company plans to raise $183 million by offering 5 million shares at $36.52, the as-converted last close of its shares on the Toronto Stock Exchange (SCR). At the proposed price, Score Media and Gaming would command a market value of $1.8 billion.

The company provides sports-focused digital media and betting products. Its media app 'theScore' provides live scores, news, stats, and betting information on teams, leagues, and players. For the 12 months ended November 2020, theScore app ranked 3rd in North America and 1st in Canada among multi-sport news and data applications. The company's sports betting app 'theScore Bet' is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. Score Media and Gaming also creates and distributes digital content through its web, social, and esports platforms.

The Toronto, Canada-based company was founded in 2012 and booked $16 million in revenue for the 12 months ended November 30, 2020. It plans to list on the Nasdaq under the symbol SCR. Morgan Stanley, Credit Suisse, Canaccord Genuity and Macquarie Capital are the joint bookrunners on the deal. It is expected to price during the week of February 22, 2021.

The article Canadian sports media and betting company Score Media and Gaming files for a $183 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.