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02/08/18
13:36
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Originally posted by Red Baron
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This voluntary suspension is taking longer than most would have envisioned.
My thoughts are, the longer it is taking, the bigger the deal they are doing. As I said previously, they didn't bother with a trading halt for the Fertigation acquisition, so get the impression this is bigger. The term sheet for the capital raising had the "potential strategic acquisition of a lawful Cannabis license" at the top of the list for use of funds. Nutrients was #3. The Hanson's acquisition was fully paid for by issuing 5m shares. A MJ acquisition would probably be a mixture of cash and shares. As we all know, our share price bounces around both ways on low volume due to the low liquidity. A voluntary suspension would take the share price variable out of their negotiations. Looking at volumes/prices leading up to the trading halt, I can't see that word was leaking out requiring a trading halt, though it wouldn't take much to push the price up if news did manage to get out.
just my 2 cents worth as to why it's taking a while.
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They're still on track with what they said. The suspension notice said on Thursday, not before the commencement of trading on Thursday, like most trading halts and suspensions say. I've put money aside for when this comes back online