There were many stocks which started the week strongly and one of those was the Captiva Verde Wellness Corp (OTCMKTS:CPIVF). There was no news about the company yesterday but the stock was on the move and ended the day with gains of as much as 40%.
However, it might be the right time to take a look at a key development with regards to Captiva Verde from back in August. On August 16, the company announced that it was planning to acquire all the outstanding and issued shares of the company Binovi Technologies Corp. The company stated at the time that it was looking to acquire the shares by way of a merger, plan of arrangement or asset purchase.
The offer made by the company is for C$ .07 worth of shares in Captiva Verde for each share of Binovi Technologies. That being said, it is also necessary to keep in mind that the proposal from Captiva Verde is unsolicited and hence, there might be many things that would need to be considered before it can go through. The senior management as well as the board of directors at Binovi and the shareholders at the company need to be in agreement for the deal to go through.