CGB Top Twenty Holders Questions, page-27

BigDan,

This announcement as you have so rightly shown was back on January 8th, 2018. This was 14 months ago (let this sink in to all readers).

The announcement was that VitaCann  (a wholly owned subsidiary of MCL and not QBL/CGB (who currently have a 55% ownership in) had entered into a 50/50 JV with Canntab.

VitaCann, as part of this JV would be responsible for the first $1M - USD to setup and  obtain approvals to sell the Canntab supplied tablets into Australia and Asia (no manufacturing as yet).

QUESTION!
Do you all think that after 14 months we would have seen some fruits of this amazing JV? Yet there has not been a single tablet sold by VitaCann (or MCL,QBL,CGB). Considering that VitaCann did not have to manufacture anything. There is also an MOU with Burleigh Heads Cannabis to securely store the imported product from Canada.

Material Terms of the VitaCann-Canntab Joint Venture1. The parties have signed a 50/50 joint venture (JV) agreement for the JV to exclusively manufacture, distribute and sell tablets containing Canntab’s proprietary technology and formulation in Australia, and to obtain the approval for such activities. VitaCann retains the right of first refusal for distribution of the product throughout Asia.2. VitaCann will be responsible for the first USD$1,000,000 of the JV’s expenditure in Australia, following which expenses will be split 50/50 between the parties.3. The Joint Venture will be operated under the name Canntab Australia.4. The Joint Venture shall be owned equally by Canntab and Vitacann and each of them shall be entitled to one half of all income and profits earned by the Joint Venture.5. All contracts relating to the products entered into by the parties shall be in the name of the Joint Venture.6. All registrations in Australia (and/or Asia) related to the products shall be in the name of the Joint Venture.7. Canntab grants to the Joint Venture the exclusive right to utilize the patents and the know-how to market, sell and distribute the products in Australia with a first right throughout Asia.