trending Market Intelligence /marketintelligence/en/news-insights/trending/qch-jarvmy0nv94pdgsa8w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Knol, Pivot pursuing reverse takeover to spin out cannabis assets

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Knol, Pivot pursuing reverse takeover to spin out cannabis assets

Knol Resources Corp. and Pivot Pharmaceuticals Inc. will undergo a reverse takeover, which will see Pivot's non-U.S. cannabis assets transferred and spun out to Knol.

Michael Atkinson, CEO of Vancouver, British Columbia-based Knol, said the spinout is intended to bring Pivot's bio-cannabis products to consumers in Canada, Latin America, Asia-Pacific and the EU. Pivot's CEO Patrick Frankham said the company will continue to focus on its wholly owned U.S. subsidiary, Pivot Naturals LLC, as it prepares to commercialize its bio-cannabis product line in California and Nevada.

In connection with the transaction, Knol will undertake a 7-for-1 reverse split of its common stock and will change its name as agreed upon by the two companies. The new name was not revealed in an Oct. 15 press release announcing the transaction.

Under the terms of the agreement, Knol will issue 35 million common shares at 50 Canadian cents apiece to Pivot shareholders. In addition, Knol will issue 12 million warrants to Pivot, with each warrant enabling the holder to buy one common stock for 75 cents.

Knol will nominate one of the five directors for the new company, and the remaining director positions will be made up of certain members of Pivot's management team involved with its non-U.S. operations.

In addition, Knol will complete a concurrent private placement no later than the closing of the transaction to raise between C$3 million and C$6 million in gross proceeds. Knol said the funds will be used for developing its business following the reverse merger and for general corporate purposes.

The companies expect to sign a definitive agreement by Nov. 30. The transaction is subject to approval from the boards and shareholders of both companies and other regulatory approvals.

Knol, which previously engaged in the exploration and development of oil and natural gas operations, is now focused on acquiring strategic businesses or assets. Pivot is a biopharmaceutical company engaged in developing and commercializing therapeutic pharmaceuticals and nutraceuticals.