Ann: RotoGro to Acquire 100% of Canadian Lawful Cannabis License, page-31

First 31 Last

Share
Profile

Follow
GL77

3,147 Posts.

113

29/11/18

13:51

Post #: 36688405
Share

Originally posted by Red Baron ↑

The company was very prompt getting back to me, helps having Canada in a different time zone. Unfortunately when companies put out asx releases, lawyers get involved, dotting i's crossing t's causing a loss of plain English readability. I think their reply below clarifies the transaction so all can understand.
Here's their de-identified reply..

Hello xxxx,

Thanks for the below ...

In summary the market obviously has not understood the transaction ...

The acquisition is based around 4 milestones of which the second 10% revolves around the conversion / renewal of the license under the Cannabis Act ...

The third is the change of address and ownership which includes the approval of standard processing at the new facility for a further 30% ...

The fourth and final milestone to the value of 50% is the approval of Standard Cultivation at the new facility ...

The transaction could not be further de-risked from the point of view the Company has secured a license for 80% Stock and 20% Cash staged over four milestones to be fully operational and compliant as a cultivator ...

Are the readers aware that all licenses in Australia also ‘expire’ / renew annually ... this is not dissimilar to renewal of mining licenses or your drivers license ... it is the governments way to ensure your premise and security personnel are still compliant and in place ... it is also an avenue to generate annual fees for the government ... as with most of these legislative things you are either compliant or not ... if you are not compliant you are provided with a remedy and a time to remedy ... the government are not in the business of expiring / cancelling licenses ...

Thanks

Expand

@Red Baron with regards to:

The acquisition is based around 4 milestones of which the second 10% revolves around the conversion / renewal of the license under the Cannabis Act ...

When do you think we would expect to hear about the licence being renewed?

Cheers

Last edited by GL77: 29/11/18

RGI Price at posting: 39.0¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

HotCopper Highlights: Your most watched stocks for Week 47, 2024

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

DUI

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

PYC

Scientific conference spotlights PYC's work on blindness disease treatment

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

There are more pages in this discussion • 4 more messages in this thread...

First 31 Last

Add RGI (ASX) to my watchlist

Ann: RotoGro to Acquire 100% of Canadian Lawful Cannabis License, page-31

Top Stories

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

HotCopper Highlights: Your most watched stocks for Week 47, 2024

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

Scientific conference spotlights PYC's work on blindness disease treatment

Sales growth pushes Lovisa's fortunes (and shares) upwards

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL