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The latest announcement is out from Deveron UAS ( (TSE:FARM) ).
Deveron Corp. has entered into an agreement to sell all its assets, including its majority stake in A&L Canada Laboratories East, Inc., to affiliates of Rock River Laboratory Inc. This decision comes as a strategic move to address liquidity issues and maturing debt. The transaction, valued at US$36.4 million, will involve a combination of cash, secured seller notes, and equity in Rock River. Aqua Capital will provide equity for the transaction and remain the controlling shareholder of Rock River. The sale is expected to help Deveron settle its outstanding debts and provide a return of capital to its shareholders, while also involving adjustments for working capital and foreign exchange fluctuations.
Spark’s Take on TSE:FARM Stock
According to Spark, TipRanks’ AI Analyst, TSE:FARM is a Underperform.
Deveron UAS faces significant challenges, including high leverage, negative profitability, and recent revenue declines, impacting its financial performance. Technical indicators suggest limited momentum, while valuation metrics reflect the company’s struggles. Corporate events underscore operational and regulatory hurdles, leading to a cautious outlook on the stock.
To see Spark’s full report on TSE:FARM stock, click here.
More about Deveron UAS
Deveron Corp. is a leading agriculture services and data company in North America, focusing on providing innovative solutions for the agriculture industry. The company is involved in offering services that enhance agricultural productivity and efficiency.
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$8.31M
Learn more about FARM stock on TipRanks’ Stock Analysis page.