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Let's gooo!!!!
Haha I know that's right .
62$
Snapppp !$
Goood morningg. Should be a Funn week ;)
Waiting waiting waiting ! Lol its commin..funn times
AUDIT ON THE WAYY !!!
Wishing everyone a safe and enjoyable Halloween 2019. Stay tuned for updates tomorrow. Cheers.
— Snakes & Lattes Inc. (@SnakesLattesInc) October 31, 2019
Sounds good to me ! Lets get it goingg
Good morning everyone ! That PR made me smile!! Everything is setting up nice. Ive been a lil worried here lately but i know its comming ! Perfect location!$!$ Go AMFE
Thats how ive been thinking and doing ! Good luck!
Im with you ! Im plainng on buying my first house sometime next year thanks to amfe ! No rush for mee !
Your right, nobody knows until the audit is out. But do you really doubt that Millions were being made for 2018 ? Do you doubt that Snakes is making Money everyday ? Im with ya on wanting the audit nowww ! Roger will prove show ya here soon !
The audit is on the wayyy ! Comming down the highway right now. It had to make a couple pit stops but its definitly ON THE WAY ! ;)
Nice way to start the week and month off ! Lets get it rolling ! Cannabis drinkkss! Yummy..im thirsty !! Thirsty for AMFE ! + THAT TOO haha lets go AMFE
Pretty lowww! Smart people because Nobody sellingg
Gotham Green to Invest $250 Million into MedMen
March 22, 2019 at 6:25 am
Published by NCV Newswire
?MedMen Announces US$250 Million Investment From Gotham Green Partners
LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (CSE:MMEN) (OTCQX:MMNFF) (FSE: A2JM6N) (“MedMen” or the “Company”), is pleased to announce that it has signed a binding term sheet for a senior secured convertible credit facility of up to US$250,000,000 (the “Facility”) from funds managed by Gotham Green Partners(“GGP” or the “Investor”), an investor in the global cannabis industry. Management believes this is the largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations.
“This strategic partnership with Gotham Green Partners represents another key milestone for MedMen and stems from our long-standing relationship with The Cronos Group and GGP’s brand portfolio,” said Adam Bierman, CEO of MedMen. “The growth capital will be used to operationalize the balance of our footprint and we look forward to creating further alignment with GGP and their global cannabis platform.”
We continue to be impressed with MedMen’s industry leading retail execution and iconic branding. With MedMen’s fortified balance sheet, the Company’s future has never been brighter. We feel fortunate to have the opportunity to take such a significant stake in MedMen and begin to work actively with the management team and the board to help the Company achieve its goals.
?Jason Adler, managing member of GGP
The Company intends to use the net proceeds from drawdowns on the Facility to fund the future capital needs of the business. In addition to funding general working capital, the growth capital will primarily be used to:
Operationalize existing retail licenses, with a focus on Florida, where the Company is licensed for 30 stores
Integrate assets acquired through pending transactions, including those related to PharmaCann, LLC
Accelerate geographic expansion through bolt-on acquisitions and investments in core markets
Support national roll-out of higher-margin in-house branded products
Continue to invest in technology and digital infrastructure, with a focus on delivery and loyalty programs
Consolidate the supply chain and enhance margins by ramping up cultivation and production capabilities
The investment from GGP will be in the form of convertible senior secured notes issued by MM CAN USA, Inc., a subsidiary of the Company, totaling up to US$250,000,000 (“Notes”) on a private placement basis pursuant to applicable securities laws exemptions. The Notes will be issuable in three tranches, with each of the second and third tranches being issuable at the option of the Company, subject to certain conditions and share price thresholds being achieved by MedMen. The initial tranche will be in the amount of US$100,000,000 (“Tranche I”). The additional US$150,000,000 would be funded in two US$75,000,000 tranches. The second tranche (“Tranche II”) would be available to the Company beginning on the six-month anniversary of the closing date, and the third tranche (“Tranche III”) would be available to the Company beginning on the six-month anniversary of the funding date of Tranche II.
All Notes will have a maturity date of 36 months from the closing date (“Maturity Date”), with a 12-month extension feature available to the Company on certain conditions, including payment of an extension fee. Notes will bear interest from their date of issue at LIBOR + 6.0% per annum. During the first 12 months, interest may be paid-in-kind (“PIK”) at the Company’s option such that any amount of PIK interest will be added to the outstanding principal of the Notes. The Company shall have the right after the first year, to prepay the outstanding principal amount of the Notes prior to maturity, in whole or in part, upon payment of 105% of the principal amount in the second year and 103% of the principal amount thereafter.
All or a portion of the Notes (including all accrued interest thereon) will be convertible, at the option of the holder, into class B subordinate voting shares of the Company (the “Subordinate Voting Shares”) at any time prior to the close of business on the last business day immediately preceding the Maturity Date. The conversion price of each tranche of Notes is as follows:
i) for Tranche I Notes, the conversion price will be equal to 115% of the lesser of (the “Tranche I Reference Price”) (a) US$3.10, which represents the closing price of the Subordinate Voting Shares on the Canadian Securities Exchange (the “CSE”) on the trading day immediately preceding the announcement of the Facility (translated to US dollars), and (b) the closing price of the Subordinate Voting Shares on the trading day immediately preceding the closing date; and
ii) for Tranche II and Tranche III Notes, the conversion price will be equal to the lesser of (a) 115% of the 20 trading day volume weighted average trading price of the Subordinate Voting Shares as of the trading day immediately preceding the date of issue of such tranche, and (b) US$7.00.
The Company may force the conversion of up to 75% of the then outstanding Notes at the applicable conversion price(s) if the volume weighted average trading price of the Subordinate Voting Shares (translated to US dollars) is US$8.00 for any 20 consecutive trading day period. If 75% of the then outstanding Notes are converted by the Company, the term of the remaining 25% of the then outstanding Notes will be extended by 12 months.
Upon drawdown of Tranche I, the lenders would be issued share purchase warrants (“Warrants”), each of which would be exercisable to purchase one Subordinate Voting Share. The number of Warrants to be issued will represent an approximate 50% Warrant coverage on the Tranche 1 Notes, certain of which Warrants will have an exercise price per Subordinate Voting Share that will be equal to a 30% premium to the Tranche I Reference Price, and another group of which Warrants will have an exercise price per Subordinate Voting Share that will be equal to a 50% premium to the Tranche I Reference Price. The Warrant coverage on the Tranche II and Tranche III Notes will be similar to those for the Tranche I Notes. The exercise prices for the Warrants on the Tranche II and Tranche III Notes will be equal to the lesser of (a) a 30% or 50% (as the case may be) premium to the 20 trading day volume weighted average trading price of the Subordinate Voting Shares as of the trading day immediately preceding the date of the drawdowns of such tranches, and (b) US$7.91 or US$9.13 (as the case may be).
The Warrants and any Subordinate Voting Shares issuable upon conversion of the Notes or exercise of the Warrants, will be subject to a four month hold period from the date of issuance of the Notes or such Warrants, as applicable, in accordance with applicable Canadian securities laws.
The terms of the Facility described in this press release are those set out in a binding term sheet. However, completion of any tranche is subject to further agreements being entered into by the parties, including as to the guarantees and/or the collateral to be provided by MedMen and its applicable subsidiaries to secure its obligations under the Facility. The terms of the Facility, the Notes and the Warrants and the conditions to drawdowns are subject to change as the parties negotiate such definitive documentation. The closing of any tranches will be subject to certain conditions being satisfied including, but not limited to, the receipt of all necessary approvals and the absence of material adverse changes. The parties are currently anticipating a closing in April. There can be no assurance that the parties will enter into definitive documentation such that the Facility will be available, or if definitive documentation is entered into, that the terms of the Facility, the Notes and the Warrants and the conditions to receiving the proceeds of any of the tranches will be as stated above.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Immmmmm readddy as welll !!!!
Goooood morninggg ! It seems like a good week forr newssssss since tommarow makes 21 days/ 3 weeks from tweet !! Its comming sooner than later either wayyy. LETS GET IT ROLLING !
I mayy holllllaaa justtt a lil ! ??
I was wondering the same..i put a bid in and wont change the current bid! Oh well ...lets get it. Go AMFE
Gooooood morninggggg !
Making money everyday is what there doingggg!! All i can say is, hope you have some shares because its comming IMO!
Looking good to meee. Ill keep waiting !!
I believee!!! Just added another 4900! Also 1 year comming up for me! Go amfe !
Goood morninggg!! Ayyy finally green after 9 months!
This initial purchase order has a USD value well into the six-figure range.
Up up and away!!! Lets gooo
Yessss ima be riding with youu for years to come! Save me a seat!
Me tooo!! Slowly been building up my position!
So ppl really dont believe the Audit is comming or what?? Pretty sure its comming sooner than later IMO
Gooood Morninggg to all!! Go AMFE
Nvm that! i figurued they was talking about EOD in general. Not litterally the EOD today
Amfil Technologies
@AmfilTech
·
Mar 7
The company wasn't going to provide a further update regarding the audit and simply file the completed report after hours upon completion.
Just watch and see $$$$$ its comming!! Go AMFE
I cannn seeee itttttt ! Looking gooooood
Sometime after the bell todayy later on !? Imo.. Who knowwwssss! I do know its comming soon
Sounds like a good plan to meee! Goood morning to alll
My seat has been reserved for few months so im readyyyyy to rideee .lets do ittttttt! Gooooood timeeessssssssss!! Go amfe
Amfil Technologies Inc Provides Update On Snakes & Lattes Arizona Project and Discusses Potential AcquisitionsPress Release | 03/04/2018
Amfil Technologies Inc. (OTC Pink: AMFE) is pleased to provide an update on recent Snakes & Lattes Inc developments relating to its expansion plan into the United States, franchising, and potential acquisitions in the publishing and distribution space.
Brick & Mortar Locations:
Snakes & Lattes Inc. has received back a signed LOI from the landlord of a key property in Tempe, Arizona. This brings Snakes & Lattes Inc. one step closer to breaking into the US market. Ben Castanie, President of the Snakes & Lattes Inc. subsidiary will be flying down to meet with the landlord this coming Thursday March 8th 2018 with intent to finalize the lease. We are optimistic on the deal closing, and if so, focus will immediately shift to bringing the first Arizona location online which has already been fully funded for the complete build-out. An architectural design firm has been selected and construction will begin on this location as soon as the drawings and design layout have been completed with a targeted opening date of late Summer 2018. The selection process for the initial Game Gurus, managers, and general staff has already commenced with a number of promising candidates expressing their interest to join the team once the operations are further solidified.
The original plan was to sell a master franchise to begin the regional foothold, however Snakes & Lattes Inc. management has instead opted to enter an agreement with a local investor who will fund this as a Corporate Owned location which will also act as a franchising, training, and distribution hub for the Southwestern region of the United States. This will provide the company, with an ongoing relationship with this same person, allow for additional location targets in the region to be captured with enhanced oversight on the operations of the future franchises in the area and give us greater ability to provide support and training. The corporate owned location will also oversee the distribution business in the Southwestern region.
Tempe, AZ is well-positioned as a key market in the Southwestern United States, boasting high density of key demographics and high-volume foot traffic areas. Tempe is home to Arizona State University (ASU), a campus with 72,000 annual enrollees as of 2016, and Rio Salado College with close to 50,000 annual enrollees. In addition, there are a number of college and university campuses within a less than 20 minute drive from Tempe including (but not limited to);
Grand Canyon University with over 70,000 annual enrollees
Glendale Community College with over 30,000 annual enrollees.
Mesa Community College with over 20,000 students annually.
In our estimation, there are well over 250,000 college students annually at campuses anywhere from walking distance to a 20 minute drive from the Snakes & Lattes Tempe location. This bodes well for the location as students make up a high percentage of Snakes & Lattes key customer demographic.
Development of a Corporate Owned brick & mortar location in the Southwestern U.S. will provide a foothold in the US market, create a launchpad for further retail expansion into California, Colorado, Utah, Nevada as well as other key states, and create an inroad into the development of US distribution centers in conjunction with existing shipping partners in the United States.
Additionally, Snakes & Lattes management continues to work with its partners at CBRE Limited to locate and secure properties within Canada, further showing commitment to concurrent, stable growth within the American and Canadian markets. Hamilton, ON and Waterloo, ON franchises have been sold and are in the process of locating, selecting, and obtaining prime locations. The company intends to await the availability of suitable locations as opposed to opening in locations not aligned with the standards of the brand. Additional areas are also currently being looked at for additional Snakes & Lattes Inc. locations.
Snakes & Lattes Inc. Midtown, the third and largest location to date that opened in Toronto, ON received its liquor license this past week and has begun serving alcohol as of this past Friday. This is exciting for the company as alcohol purchases at the other locations make up approx. 50% of total sales with healthy margins so this event is expected to further drive increased revenues out of this location.
Potential Acquisitions:
Snakes & Lattes Inc. is currently in initial discussions with two companies that have expressed interest to be acquired by Snakes & Lattes Inc. The first is one of the largest board game distributors in Canada, and the second is a distributor and publisher in Europe. As the company expands into the USA, the company will be looking at a potential acquisition of a distributor in a key location in the USA, in addition to our own planned distribution center in Chicago, IL. The strengthened US distribution arm would serve as a satellite to complement the initial Northern offices and warehouse in Chicago, and the South Western presence in Arizona.
Further updates relating to the expansion of the Snakes & Lattes brick and mortar locations, as well as the potential acquisitions in the publishing and distribution sectors will be announced as they develop. The company is very excited with the recent developments in terms of US expansion and remains steadfast in its commitment to increase its reach throughout North America and beyond.