The bit I liked was:
"The company is assessing opportunities to acquire a Cannabis Cultivation License in Canada and are in discussions with a number of license holders... "
The remainder of the sentence is the normal disclaimer they attach to nearly all their future plans. This is the most specific they've been, mentioning buying a cultivation license and the place - Canada. Note they're looking at buying a license, not for example a facility, so I assume they'd design & build out their own facility. Canada goes recreational in 13 days time. All the licenses then change, as it's no longer illegal.
Under the current regulations (prior to the Cannabis Act starting Oct 17) to deal with cannabis, you either needed a medical exemption under the ACMPR as a Licensed Producer LP, or as a Licensed Dealer LD which is an exemption under the Controlled Drugs & Substances Act. There are 117 LPs and 37 LDs. The new Cannabis Act, coming into effect on Oct 17, decriminalises cannabis, so LDs & LPs become redundant. The new Act does still regulate cannabis, so the LDs & LPs will be transitioned (converted) into one or more of the 6 classes under the new Act.
The AGM is due soon, I suppose the options will be voted on then & we'll learn what they are for. A very specific number which could relate almost anything, I'd have to wait to see what they are for before commenting further.
RGI Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
