SNDL To Acquire Valens

Uranium Energy Closes UEX Acquisition

Uranium mining company Uranium Energy Corp. |(UEC) announced Monday that it has completed the acquisition of the remaining stake in UEX Corp., a Canadian uranium and cobalt exploration and development company, that it did not already own.

The company closed the previously announced plan of arrangement under the Canada Business Corporations Act. The Arrangement was approved at a special meeting of UEX securityholders held on August 15 and was subsequently approved by the Supreme Court of British Columbia on August 18.

Under the arrangement terms, UEX shareholders received 0.090 common shares of UEC for each UEX common share held.

UEC said it intends to submit applications to the Toronto Stock Exchange and to the applicable securities regulators to delist UEX’s existing common shares and for UEX to cease to be a reporting issuer, respectively.

Amir Adnani, President and CEO, said, “There is an emerging trend by Western utilities to secure supplies from uranium projects in politically stable and proven jurisdictions, this is a strong fit with UEC’s permitted, and production-ready U.S. ISR projects and extensive growth pipeline in Canada.”

JDM Partners Exercises Option To Reacquire Stake In Douglas Ranch

The Howard Hughes Corp. (HHC) announced Monday that JDM Partners has exercised their remaining option to reacquire a stake in Douglas Ranch, the recently launched large-scale master planned community in Phoenix’s West Valley.

The community was acquired by Howard Hughes from JDM Partners and El Dorado Holdings last October for approximately $541 million. On August 18, JDM Partners exercised its second option to buy back into Douglas Ranch, acquiring an additional 2.8% interest in the Douglas Ranch joint venture for approximately $15 million.

The transaction brings the aggregate of JDM Partners’ investment in Douglas Ranch, excluding Trillium, the community’s first 3,000-acre village, to approximately $65 million, which equates to approximately 12% of the joint venture.

JDM Partners and El Dorado Holdings are 50/50 joint venture partners with HHC on Trillium. Land sales at the master planned community are expected to begin this fall.

Viomi Technology Posts Loss For Q2 As Sales Decline

Viomi Technology Co., Ltd (VIOT), a Chinese IoT company, on Monday posted a loss for the second-quarter, amidst a significant decline revenues.

The company attributed the decline revenues to the complete cut-off of sales of Xiaomi-branded sweeper robots this year, as well as its high prior-year base for comparison, and the ongoing product portfolio adjustments in some categories.

For the quarter ended in June, the Guangzhou-headquartered firm posted a net loss attributable to ordinary shareholders at RMB39.61 million or RMB 0.19 per share, compared with a profit of RMB 46.07 million or RMB 0.21 per share, reported a year ago.

Net loss per ADS was at RMB 0.57 per share, compared with a profit of RMB0.62 per share of last year.

Excluding items, loss attributable to ordinary shareholders of the firm was at RMB 33.93 million or RMB 0.16 per share, compared with a profit of RMB 59.50 million or RMB 0.27 per share of previous year quarter.

Adjusted loss per ADS stood at RMB 0.49 per share, versus a profit of RMB 0.80 per share, on year-on-year basis.

Pre-tax loss was totaled at RMB 54.24 million, compared with earnings of RMB 55.62 million, reported for the second quarter of 2021.

Loss from operations stood at RMB 55.61 million that compares with a profit of RMB47.16 million of previous year period.

Total net revenues fell to RMB924.22 million from last year’s RMB 1.65 billion.

Looking ahead, for the next quarter, Viomi Technology expects its net revenues to be in the range of RMB740 million – RMB840 million.

Westbound U.S. 36 to Boulder closed in Broomfield due to “serious crash”

Nearly three miles of U.S. 36 westbound toward Boulder is closed due to a “serious collision” in Broomfield, the Broomfield Police Department said.

Traffic is being diverted off the highway at Flatirons Crossing Drive, and U.S. 36 is closed from there to Colo. 170 in Superior, according to the Colorado Department of Transportation.

Morning commuters to Boulder should expect significant delays, the Department of Transportation said.

This story will be updated.

Upstart Holdings Down 4%

Shares of consumer lending company Upstart Holdings, Inc. (UPST) are down more than 4 percent on Monday’s trading, continuing their downward trend since past few days. The stock’s trajectory is the same as the U.S stock markets, which are down early on Monday morning.

There has not been any company-specific news on Monday to impact the stock.

Currently at $27.21, the stock has traded between $27.57 and $28.59 during the past 52 weeks.

EBay To Acquire TCGplayer For Up To About $295 Mln

eBay Inc. (EBAY), a global commerce company, and TCGplayer, a trusted marketplace for collectible card game enthusiasts, announced they have entered into an agreement for eBay to acquire TCGplayer for a total deal value of up to approximately $295 million.

The deal builds on eBay’s offerings in the trading cards category and brings even more selection to enthusiasts.

Trading cards are an attractive category, which has seen substantial growth. TCGplayer is a leading technology platform for the collectibles industry, and will continue to operate autonomously as one of the largest online marketplaces for trading card games.

The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in the first quarter of 2023.

SNDL To Acquire Valens

SNDL Inc. (SNDL) and The Valens Company Inc. (VLNS.TO, VLNS) have entered into an arrangement agreement to combine their businesses and create a leading vertically integrated cannabis platform. SNDL will acquire all of the issued and outstanding common shares of Valens, other than those owned by SNDL and its subsidiaries, by way of a statutory plan of arrangement. Valens’ shareholders will receive, for each Valens share, 0.3334 of a common share of SNDL.

The combined company will operate as SNDL Inc. Valens shareholders will own approximately 9.5% of the pro forma entity.