Financing Updates For The Resource Sector
We have been talking a lot about how slow the sector has been on the market and financing front. Kai Hoffmann, CEO of Oreninc joins me today to share exactly how slow it is with only 13 financing announced last week. We also quickly touch on the roll of warrants in recent financings.
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Click here to visit the Oreninc website.
WASHINGTON (AP) — German pharmaceutical giant Bayer AG has agreed to the U.S. government’s demand that it sell about $9 billion in agriculture businesses as condition for acquiring Monsanto Co., a U.S. seed and weed-killer maker.
Antitrust regulators at the Justice Department say it’s the biggest divestiture ever required for a merger. The regulators say they directed Bayer to divest assets such as vegetable oils, seeds and seed treatments to ensure fair competition in the market after the massive agriculture business deal goes through. The assets will be sold to BASF, a German chemical company.
Bayer’s $57 billion takeover of Monsanto has been watched by competitors and environmental groups, which are fearful that the number of players in the business of selling seeds and pesticides will shrink further and give a single company an exclusive grip on the food chain.
Monsanto, based in St. Louis, is one of the world’s biggest seed companies. The merger would make Bayer the largest supplier in the world of pesticides and seeds for farmers.
The divestiture proposal will be filed in federal court and opened to public comment for 60 days.
In March, the European Union approved the merger on condition that Bayer sell $7.4 billion in assets to BASF to eliminate overlaps in seed and pesticide markets. The U.S. Justice Department said after the European action that it continued to have concerns over the proposed merger, especially its potential impact on American farmers and consumers, which could differ from its effects in Europe. Genetically modified seeds, for example, are used widely in the U.S. but mostly banned in Europe.
The merger also has won approval from China, Brazil and Australia.
CFS comment: The sale of the US continues…..just wait until the national debt collapses the dollar!
Off Topic:
SACRAMENTO, Calif. (AP) — Researchers and U.S. authorities are finding what they say is an alarming increase in the use of a powerful banned pesticide at illegal marijuana farms hidden on public land in California.
The pesticide residue is showing up in about 30 percent of the plants themselves, researcher Mourad Gabriel told The Associated Press. U.S. and state authorities will announce Tuesday that they will use $2.5 million in federal money to target the illegal grows.
Researchers found the highly toxic pesticide Carbofuran at 72 percent of grow sites last year, up from 15 percent in 2012, said Gabriel, executive director and senior ecologist at Integral Ecology Research Center and one of the few researchers studying the ecological impact of illicit grow sites.
California has long allowed medicinal marijuana and legalized recreational pot this year. While U.S. Attorney McGregor Scott will enforce federal laws that ban the drug, he said he is targeting illicit grows on public land with cooperation from California’s attorney general and the state’s National Guard.
CFS comment: I find it interesting that many Californians strive to find organic produce, but fail to consider the real dangers of consuming cannabis.