New Cannabis Ventures reported that investors interested in participating in the Med-X crowdfunding campaign should read the offering circular. Unfortunately, most investors don’t bother with the fine print. In this case, that would be a very bad idea.
According to the article key points to look for include:
The company’s most updated financials, from June 30th, indicate no sales to date and there has never been mention of any sales at all. Why not?
As of June 30th, the book value (assets less liabilities) was just $369K
In addition to the 25mm shares the company intends to sell, there are 90mm shares that have been given as founder’s stock to the company’s insiders, mainly COO and President Matthew Mills, who received 60mm shares. About 2.4mm shares have been sold to investors at $0.50), leaving a current total of about 117.4mm shares
Oddly, the CEO was given only 3mm shares, less than the the company’s lawyer, who got 5mm.
At $0.60 per share, the company is being valued at over $70mm! “The offering price of the shares of common stock has been determined by management, and bears no relationship to our assets, book value, potential earnings, net worth or any other recognized criteria of value.”
Of the $15mm being raised, the company will keep only $13mm, with $2mm in expenses (mainly marketing)
World High Life Plc (“World High Life” or the “Company”)(AQSE:LIFE) (OTCQB:WRHLF), is pleased to announce that it has appointed H&P Advisory Limited (“Hannam & Partners”) as financial advisor to the Company with immediate effect
About Love Hemp
Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ retail stores, today announced that its executive team will participate in the following conference in March 2021:
Needham 2 nd Annual Virtual Cannabis Conference, March 3, 2021: Management will participate in one-on-one meetings.
Meanwhile, two longstanding cannabis partners ended their relationship.
Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development
Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.
The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.