- Cannabis company, Tree of Knowledge International (CSE:TOKI) has successfully delivered 23,000 thermometers to a distributor in Chicago
- This is the company’s first medical supply transaction in the United States
- Tree of Knowledge is continuing to build its cannabis products business but has pivoted to help prevent the spread of COVID-19
- In other news, the company has announced plans for a normal course issuer bid, currently scheduled for May 25, 2020
- Tree of Knowledge International (TOKI) is up 25.00 per cent and is currently trading for 2.5 cents per share
Cannabis company, Tree of Knowledge International (CSE:TOKI) has successfully delivered 23,000 thermometers to a distributor in Chicago.
This order was the company’s first medical supply transaction in the United States.
While the company’s primary focus has been building its cannabis products business, COVID-19 has changed that. In light of the pandemic, Tree of Knowledge’s US division has pivoted to help prevent the virus spreading further.
As a health and wellness company, Tree of Knowledge has contacts and relationships in the medical industry. The company has leveraged these contacts to acquire personal protective equipment (PPE) and other medical equipment.
Tree of Knowledge hopes to provide such items to more healthcare distributors and governments in Canada and the US soon.
The company’s Chairman, Michael Caridi, commented on Tree of Knowledge’s new focus.
“TOKI is proud to be on the forefront of this fight against COVID-19. We will continue to leverage our network to provide the US and Canada the critical PPE supply necessary during these trying times,” he said.
In other news, Tree of Knowledge has announced plans to start a normal course issuer bid. Under the bid, the company may buy up to 12,535,300 of its common shares.
This represents roughly 5 per cent of the company’s issued and outstanding common shares. The company believes that repurchasing its shares for cancellation will enhance shareholder value.
Tree of Knowledge plans to appoint Leede Jones Gable Inc as the broker to conduct the bid on its behalf.
The company anticipates that the bid will start on May 25, 2020, and end exactly one year later. However, it may end on an earlier date if Tree of Knowledge purchases all the available shares
Tree of Knowledge International (TOKI) is up 25.00 per cent and trading at 2.5 cents per share at 10:50am EDT.
