Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
In case anybody missed this last month, good read that most longs here feel!
https://equity.guru/2019/02/06/dispensing-dispensary-wisdom-solo-growth-solo-v-plays-long-game/
Think we see more licenses soon
https://www.google.com/amp/s/smallcappower.com/market-mover/cannabis-retail-stock-fire-flower/amp/
An update from Solo email;
Me:
Sent: March 22, 2019 9:33 PM
To: Cindy Gray <cgray@5qir.com>
Subject: Re: Update for investors
Hello Cindy,
I had one more question on behalf of all investors. Does Solo have any future plans in developing an e-commerce website for sales?
As I see many of our competitors in the retail business lately stating the benefits of this side of sales;
“Our intuitive e-commerce platform is leading the industry as a digital retailer in the emerging recreational cannabis market”
Also, I heard perhaps April they may begin issuing licenses? Any thoughts on this?
As always thank you for taking the time to respond, and look forward to hearing back from you.
Kind regards,
Solo:
Thanks for your email. At this time, the only province that permits e-commerce direct-to-customers is Saskatchewan - which is what the press release you've quoted refers to. AGLC does not permit e-commerce so Solo Growth cannot undertake e-commerce at this time. However, it is not a complex undertaking to develop / initiate so it may be something the Company pursues in the future. The foundation is in place to launch such a platform if that is a strategy Solo Growth elects in the future. Thanks again so much for your interest in Solo Growth.
Cindy Gray, MBA
5 Quarters Investor Relations, Inc.
403.231.4372 Office
403.828.0146 Cell
cgray@5qir.com | www.5qir.com
Taking Investor Relations Beyond 4 Quarters
SOLO UPDATE
Licenses - Store Placement Strategy - Outstanding Shares
Currently, SOLO has 23 store license applications pending with the AGLC. This includes the 7 we know about (Stony Plain, Spruce Grove, Vegreville, Edmonton, Calgary, Vermilion, and Lloydminster) and does not include the Red Deer store (as it is an acquisition of an existing store).
So, once AGLC approves all licenses this year, SOLO will have 24 stores operational or closed to being operational by the end of this year.
Solo’s strategy for store location selection is based on targeting high-profile locations in regions where the population supports such a retail opportunity, and where the location can operate with optimal profitability. The Company has not specifically targeted any particular highway or roadway for its store locations, however has many of the first to be licensed along a stretch of Highway between Jasper, Alberta and Saskatoon, Saskatchewan.
Also, Solo’s current shares outstanding results from how the Company went public – by way of change of business from the previously public entity, Aldershot Resources. Capital structure is something that the board and management will continue to consider in the context of the broader business, and in future could potentially put a resolution to the shareholders for a vote regarding consolidation or some other corporate action designed to reduce share counts.
Welcome aboard!! GLTA
Evening Fellas. Canadian here. Loaded the boat at 7 and .075. This thing is getting ready to launch.
Cheers,
BB
Evening Fellas. Canadian here. Loaded the boat at 7 and .075. This thing is getting ready to launch.
Cheers,
BB
solo has 5 stores ready to go!
Alberta Gaming, Liquor and Cannabis Commission (AGLC) inspections have been completed on Solo Growth Corp.'s two additional fully constructed stores in Stony Plain and Spruce Grove, Alta. The company now has five built and inspected stores ready to open immediately upon granting of a licence, which remains at the discretion of AGLC subject to the prevailing supply constraints in Canada.
+ 2 more stores soon:
An additional two stores located in Calgary and Edmonton are nearing completion and will be ready for inspection in the coming weeks
-> 7 stores in total (soon) ready to go!
+ the bought one store which is fully operational right now.
Solo Growth Corp. has entered into and closed a definitive agreement, effective March 20, 2019, with respect to a call right on all of the voting shares of a licensed operating retail cannabis store in Red Deer, Alta., for aggregate cash consideration of $2.6-million. Concurrent with the acquisition of the call right, the company entered into a perpetual licensing agreement to rebrand and operate the store under the YSS banner.
Acquisition highlights
Opened Nov. 22, 2018, the location has an established market presence with a growing customer base;
One of two currently licensed legal cannabis retailers in Red Deer, operating as Green Town;
Aggregate revenue from opening to Feb. 28, 2019, of $1.3-million;
this stock will trade .20 very soon.
lots of promo comming. lots of news comming.
Solo Growth Announces Licensing Agreement and Acquisition of Call Right on Operating Retail Cannabis Store in Red Deer, Alberta
CALGARY, Alberta,
March 20, 2019 (GLOBE NEWSWIRE) -- Solo Growth Corp.™ (the “Company” or “Solo Growth”) (TSXV: SOLO) is pleased to announce that it has entered into and closed a definitive agreement, effective March 20, 2019, with respect to a call right on all of the voting shares of a licensed operating retail cannabis store in Red Deer, Alberta for aggregate cash consideration of $2.6 million (the “Call Right”). Concurrent with the acquisition of the Call Right, the Company entered into a perpetual licensing agreement to rebrand and operate the store under the YSSTM banner (together with the Call Right, the “Acquisition”).
Acquisition Highlights
Opened November 22, 2018, the location has an established market presence with a growing customer base;
One of two currently licensed legal cannabis retailers in Red Deer, operating as “Green Town”;
Aggregate revenue from opening to February 28, 2019 of $1.3 million;
Store level adjusted cash flow of approximately $335,000 in the first 98 calendar days since opening; and
Located near downtown Red Deer with 15 dedicated parking stalls, near a major shopping centre.
The Acquisition will establish the first operating YSSTM branded store in Canada and provides the Company with immediate revenue equal to the cash flow generated at the retail location.
“The Acquisition aligns well with our corporate strategy to complement our robust organic growth profile with strategic opportunities that drive near and long-term shareholder value”, said Theo Zunich, President and CEO. “We look forward to inviting customers to our first branded store, YSS Red Deer, in the near future”.
All required regulatory approvals, including from
Alberta, Gaming, Liquor & Cannabis (“AGLC”), have been obtained and the Acquisition closed today. The Company may exercise the Call Right in its sole and absolute discretion at any point in time for nil consideration. Eight Capital acted as strategic advisor to the Company in connection with the Acquisition.
Additional Information
For additional information regarding Solo Growth please see the corporate website at www.sologrowth.ca and filings available under the Company’s profile on SEDAR at www.sedar.com.
About Solo Growth Corp.TM
Operating as YSSTM, the Company is a cannabis retailer with the vision to become a premier retailer and the trusted destination for cannabis in Canada. Since its launch in June of 2018, the Company has built a strategic portfolio of locations while managing financial commitments. The Company has a licensing agreement and Call Right on one operating store in Red Deer, Alberta, has built and received AGLC inspections on five additional Alberta stores, and has a further two Alberta locations nearing completion of construction. An additional 16 AGLC applications are being reviewed for construction priority within the current regulatory environment. YSSTM management brings excellence across capital markets, financial management and a strong commitment to deliver shareholder value by leveraging high-quality opportunities within this exciting new industry. The YSSTM retail experience is built on our five fundamental pillars: convenience, value, selection, team, and above all else, trust.
Investor or Media Contacts:
Theo Zunich
President, Chief Executive Officer
and Director
Phone: (403) 455-7656
Solo Growth Corp.™
Suite 1000, 350-7th Ave SW
Calgary, AB T2P 3N9
investor@sologrowth.ca
OR
Cindy Gray
5 Quarters Investor Relations, Inc.
(403) 231-4372 or info@5qir.com
They should just give these guys a f license ..
Solo news from Bmo investorline
TSXV's Solo Growth Edges Up In Heavy Trade As It Readies Alberta Retail Cannabis Network
18 Mar 2019 09:46 ET
09:46 AM EDT, 03/18/2019 (MT Newswires) -- Solo Growth (SOLO.V) edged up in heavy trading after the companyon Monday said Alberta regulators completed inspections on two of its cannabis retail stores in the province, even as it waits for the province to again approve new retail openings.
The company said the Alberta Gaming, Liquor & Cannabis Commission said the two stores in the Edmonton region are fully built and ready to open, adding to three others already awaiting supplies from the commission, which last year suspended new retail openings to combat a lack of cannabis supply.
"Since the announcement of the temporary AGLC licensing suspension, the company has slowed construction and will continue to execute on the organic component of its growth strategy which is focused on carefully managing financial commitments, high grading locations, prioritizing construction resources and pursuing cost optimization," it said in a release.
Solo shares were last seen up $0.005 to $0.007 on the TSX Venture Exchange, on volume of 1.65 million, making it the most active issue on the exchange.
Read more at https://stockhouse.com/companies/bullboard?symbol=v.solo&postid=29505349#RXVazLDiE5IEk8LS.99
Locations awaiting for license = Llyodminster, Vermilion, and Vegreville
Locations awaiting to be inspected and be licensed = Edmonton, Calgary, Spruce Grove, and Stony Plain
I have strong hunch that they will be approved and operational by May or June. Given that the suspension started in November and it takes 6 months to fully produce cannabis, and that the organizations that have already applied, SOLO, are soon to be approved. Other companies that have not submitted their applications will have to wait possibly a year or two, as the AGLC is no longer accepting applications. SOLO has submitted several applications already for nearly 60+ locations in Alberta alone.
Thanks for sharing that. For me it’s worth a long hold here. Open the gates and let us open some stores. It’s legal! Lol
Started here didn’t want to chase Choom, sharing IR email which made me buy in.
I am sharing an email I sent to IR, and the response I got back today. Perhaps this information will be useful to longs like myself . Easy money for patient people.
My Email:
Sent: March 9, 2019 8:52 AM
To: investor@sologrowth.ca
Subject: Update for investors
Good morning,
I am writing on behalf of all investors today. As I am aware that many of our concerns as investors are probably very well the same as yours, to wit:
1. Losing out on first out the gate advantage ( to other retailers, Choom, inner spirit , etc)
2. Watching the stock price drop and the overhead cost you have for empty store fronts?
3. The concern that it could be another 16 months or so ( based on media reports) before you are licensed and open.
In closing, I am wondering if you can address any of these issues above and/or provide more insight and direction as to any upcoming moves Solo may be heading. As an investor, I am heavily invested with you and any information would be helpful.
Thank you in advance!
Kind regards,
Today’s response:
Thank you for taking the time to email regarding Solo Growth. As you likely saw yesterday, the Company announced the implementation of several key corporate strategies aimed at enhancing long-term value for its shareholders. The release issued yesterday is available here: https://sologrowth.ca/wp-content/uploads/2019/03/19_03_12_-_Ops_and_Corporate_Update_FINAL.pdf, and the Company also updated its corporate presentation which is available here: https://sologrowth.ca/wp-content/uploads/2019/03/19-03-12-SGC-Presentation-March-FINAL-2.pdf.
With three stores now inspected by AGLC, the Company is prepared and excited to be able to open these stores immediately upon granting of an AGLC license, which remains at the discretion of AGLC subject to the prevailing supply constraints in Canada. In addition to its organic growth, Solo Growth has increased its focus on strategic opportunities within the cannabis sector that will drive shareholder value, including accretive strategic acquisitions, partnerships and/or other ventures. An additional four stores are expected to be ready for inspection in the coming weeks, and Solo Growth will continue to provide updates on these inspections as information is available.
In terms of cost control, Solo Growth has successfully assembled a strong administrative team, and therefore no longer requires the back-office functions that were previously provided by the Solo Liquor Administrative Services Agreement, which provided for accounting, payroll, IT and back office administrative services. The termination of the agreement, along with the head office relocation to alternate space, is another key step to keeping overhead costs low - resulting in an annual estimated savings of $200,000. Solo Growth is committed to maintaining a healthy financial position, while also ensuring the Company is prepared to open locations as soon as AGLC licenses are granted, and pursue a broader strategy that includes both organic growth along with potential M&A or other transactions. Ultimately, the Company is driving to generate value for shareholders, and believes the pivot announced yesterday is optimal given the ongoing regulatory uncertainty and supply constraints facing the industry.
In the interim, hopefully this helps provide colour, but if you have additional questions, please don't hesitate to let us know.
Thanks again,
Cindy Gray, MBA
5 Quarters Investor Relations, Inc.
403.231.4372 Office
403.828.0146 Cell
cgray@5qir.com | www.5qir.com
When we starting? lol Drop that news Solo!
Plenty of action on Canadian side...wakey wakey. lol $ALZTF/SOLO
Very very quiet board
Wouldn't mind smacking the ask for some more. Might run after trading opens on our side.
Solo Growth Highlights
Three stores completed and awaiting inspection at year end 2018 and four additional stores under construction in Alberta
Raised approximately $5 million in Rights Offering which closed December 18, 2018
Received 20 development permits in Alberta with concurrent AGLC applications in place for each location
Leveraged commercial real estate expertise to build a high-graded portfolio of 25 premier locations in Ontario with termination clauses and/or refundable deposits, ahead of the January 11, 2019 Ontario lottery process
The Company is well positioned with financial flexibility and a long list of premiere locations in both Alberta and Ontario that will enable us to react quickly once supply issues are resolved
Strong management and board brings together substantial experience in real estate, controlled substance retail operations, the cannabis industry, finance and public capital markets
Just in time for Ontario Lottery, come on Canada...let’s open some stores!
Nice day here ... name change today new ticker tomorrow !!
Nope it’s time to go , lotto on the 11th give us at least 1 license ..
20 m in cash
Bod use to run liquor stores , they know about distribution and scale !!!
You mind keeping it down in here? The rest of the market is trying to miss out on this one. lol $ALZTF
Aldershot Resources Ltd. (d.b.a. Solo Growth Corp™) Announces Operational Update, Completion of Rights Offering and Third Quarter 2018 Results
CALGARY, Alberta, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Aldershot Resources Ltd. d.b.a. Solo Growth Corp.™ (the “Company” or “Solo Growth”) (TSX-V:ALZ) announces an operational update, completion of the rights offering for proceeds of approximately $5.0 million and our financial and operating results for the three and nine months ended October 31, 2018. Selected financial and operational information is outlined below and should be read in conjunction with Solo Growth’s consolidated interim financial statements for the three and nine months ended October 31, 2018 and related management’s discussion and analysis (“MD&A”) which are available on SEDAR at www.sedar.com.
Discovery Table Vermilion Store front, Yss store front
Continued Operational and Strategic Execution
Solo Growth’s strategy is to command market share by delivering a superior customer experience and instill lasting brand loyalty while pursuing operational efficiencies within our YSS by SoloTM retail locations. Management has maintained a long-term view of the cannabis industry and continues to carefully control corporate costs and financial commitments while building the foundation to become the trusted retail destination for cannabis in Canada. As a result, the Company has been able to pivot successfully and shift short-term strategies to most effectively respond to unexpected changes in operating and regulatory environments.
Within the last four weeks, the national shortage of cannabis has resulted in significant regulatory changes for retail cannabis. The Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) issued a temporary suspension in the licensing process while Ontario’s Alcohol and Gaming Commission of Ontario (“AGCO”) has elected to conduct a lottery process on January 11, 2019 to select the first 25 applicants eligible to apply for Retail Operator Licenses.
Through ongoing dialogue with Canadian Licensed Producers (“LPs”), the Company understands the current constraints within the cannabis supply chain and appreciates the process clarity provided by both the Alberta and Ontario regulatory bodies. Only two months past legalization, we are still in the infancy of the legal cannabis industry and short-term hurdles were always anticipated. Above all, Solo Growth has been incredibly encouraged by the demand for legal cannabis and the continuing socio-cultural perception shift towards cannabis in North America and globally.
In Alberta, three of our stores are fully constructed and ready for AGLC inspection while four additional locations are in the process of being completed. Solo Growth had been on target to open five Alberta stores by year end 2018, as originally forecasted, until the cannabis supply shortage resulted in the suspension of the AGLC licensing process. Consistent with management’s long-term view of the cannabis industry, Solo Growth will further high-grade our Alberta locations, continue preparation for the launch of initial stores, and seek to capture efficiencies that are expected to result in capital cost reductions of 10 to 15% per store over initial investments.
Once supply issues are resolved, Solo Growth has secured an exceptional opportunity to quickly expand our asset base in Alberta, due in large part to the Company’s strong alliance with Solo Liquor Stores Ltd. (“Solo Liquor”). Subsequent to quarter end, the Company acquired the leases to two premier locations from Solo Liquor in Calgary for total consideration of $0.8 million with an option to acquire up to an additional 13 locations. Both the acquired and option locations have been selected to be ideal cannabis locations based on profile, area traffic and zoning and bylaw readiness. This transition reflects the strategic benefits of the relationship between Solo Growth and Solo Liquor.
Concurrent with our efforts to establish a strong Alberta presence, Solo Growth has also been actively building an Ontario footprint in advance of the privatization of retail cannabis on April 1, 2019. Management has leveraged commercial real estate expertise to build a high-graded portfolio of 25 premier locations in Ontario from a list of over 100 prospective locations. The premier locations were selected by evaluating each location’s merits relative to the required financial commitments. Management has negotiated termination clauses and/or refundable deposits into agreements on all Ontario locations such that if the supply issues persist, the total capital-at-risk required to hold locations into mid-2019 will not exceed $1.0 million.
On December 13, 2018, the AGCO announced that the province would conduct a lottery on January 11, 2019 to select applicants eligible to apply for the first 25 Retail Operator Licenses that will give holders the ability to open retail locations on April 1, 2019. In response to this announcement, Solo Growth intends to submit Expressions of Interests in each of the five Ontario census regions in advance of the lottery. Amidst this continued uncertainty, the Company is well positioned with financial flexibility and a long list of premier locations in both Alberta and Ontario that will enable us to react quickly once the supply issues are resolved.
Corporately, Solo Growth has successfully scaled-up to eight employees currently and we expect to maintain an efficient annual general and administrative (“G&A”) cost of ~$2.3 million / year. On December 18, 2018, the Company closed the previously announced rights offering (the “Rights Offering”) for proceeds of approximately $5.0 million, issuing 99,017,714 common shares and 13,010,618 warrants. After closing of the rights offering, the Company has approximately $23.2 million in working capital to execute our business plan.
In addition, on December 17, 2018, Solo Growth joined the Global Cannabis Partnership (the “GCP”). Consistent with our core principles of trust and customer service, the GCP is a collaboration of cannabis industry leaders from government agencies, private-sector organizations and other affiliate organizations who share the vision of establishing worldwide corporate social responsibility standards related to the production, marketing/public education, sale, after-sales service and informed consumption of legal market cannabis. Through the establishment of standards for best practices and accountability beyond local regulations, the GCP will build credibility for the industry, align practices across jurisdictions, help to alleviate the socio-cultural stigma related to cannabis and protect the social license for industry stakeholders to operate. For more information on the GCP and its members please visit www.globalcannabispartnership.com.
Q3 2018 Financial & Operating Highlights
Solo Growth exited the quarter with $20.9 million in working capital (including $21.8 million in cash). Coupled with the flexible leasing arrangements in Ontario and the $5.0 million proceeds from our rights offering, which closed December 18, 2018, the Company has the financial capability to manage commitments through 2019, with a line of sight to first revenue as soon as the supply shortage issues are resolved.
We invested $1.6 million in capital activities in Q3/18 primarily directed to ongoing design, licensing and buildout costs for the first YSS stores in Alberta. In addition to building out the physical locations, Solo Growth also focused on meaningful investments in technology across the stores, development of a robust product catalogue, as well as extensive staff training and development tools, all of which are critical components for an exceptional retail experience within a highly regulated industry. The investments made are expected to help drive future profit and are aligned with the Company’s goal of being a trusted, responsible supplier of cannabis in Canada.
To date, Solo Growth has achieved an efficient, all-in cost per store of approximately $420,000 on the first three stores and believes that future per store costs in Alberta can be brought down to $350,000 through learnings plus capturing synergies. This will enable the Company to maintain a low-cost model while delivering comfortable, convenient service and an exceptional customer experience at a very efficient investment rate.
Total G&A expenses were $694,411 during Q3/18, with costs largely allocated to start-up expenses associated with advancing the Company’s YSS by Solo retail cannabis business, including adding experienced and talented human capital to help execute our long-term vision.
A net loss was recorded for the nine months ended October 31, 2018 of $14.3 million ($0.05 per share), driven by non-cash stock-based compensation expense of $13.4 million which is predominantly related to recognizing the derivative value of performance warrants issued to the new management and board in conjunction with the June 2018 private placement, as well as the write-off of the exploration and evaluation assets associated with the previous business. Excluding these expenses, the net loss would have been $0.8 million for the nine months ended October 31, 2018.
Rights Offering
On December 18, 2018 the Company completed the previously announced Rights Offering to holders (“Shareholders”) of common shares of Solo Growth (“Common Shares”). Under the Rights Offering, Shareholders subscribed for and purchased an aggregate of 99,017,714 Common Shares at a price of $0.05 per Common Share, resulting in proceeds to the Company of approximately $5.0 million.
Of such Common Shares, an aggregate of 13,010,618 were purchased by Shareholders who are directors or officers of the Company or are identified by such persons (collectively referred to as “Management”). In addition to the Common Shares, Management was issued an aggregate of 13,010,618 performance-based Common Share purchase warrants (“Performance Warrants”) in accordance with the prior arrangement for the issuance of such Performance Warrants.
Each Performance Warrant entitles the holder to purchase one Common Share at a price of $0.05 until December 17, 2023. In the event the 20-day volume weighted average trading price of the Common Shares equals or exceeds $0.175, each Performance Warrant shall be exercisable for 1.5 Common Shares, provided that, at the time of exercise in respect of the additional 0.5 of a Common Share per Performance Warrant, the Common Shares are: (i) listed on the facilities of a recognized stock exchange (other than the TSX Venture Exchange (the “TSXV”)); (ii) acquired for cash; or (iii) acquired for the securities of a company listed on a recognized stock exchange (other than the TSXV).
The proceeds from the Rights Offering will be held in trust until such time as the Company receives final approval from the TSXV in respect of the series of transactions which collectively constitute a “Change of Business” of the Company from a mining company to a retail cannabis company. Upon completion of the Change of Business, the Company intends to use the proceeds of the Rights Offering to continue exercise on our retail cannabis business strategy.
Following the completion of the Rights Offering, the Company has 670,064,847 Common Shares and 129,990,618 Performance Warrants outstanding.
About Solo Growth Corp.TM
Operating as YSS by Solo TM, Solo Growth Corp TM is a cannabis retailer with the vision to become a premier retailer and the trusted destination for retail cannabis in Canada. Since we launched in June of 2018, YSS has leveraged management’s expertise in commercial real estate to build a strategic portfolio of future locations while managing financial commitments and has completed construction on our first three stores in Alberta. With over 22 years’ experience gained through profitably operating the Solo Liquor retail brand, YSS management brings operational excellence in responsible controlled-substance retail to the newly legalized cannabis industry. The YSS by Solo retail experience is built on our five fundamental pillars: convenience, value, selection, team, and above all else, trust.
Investor or Media Contacts:
Pali Bedi
President, Chief Executive Officer and Director
Phone: (403) 455-7656
Solo Growth Corp.™
Suite 1100, 634 – 6th Avenue S.W.
Calgary, AB T2P 0S4
investor@sologrowth.ca | www.sologrowth.ca
Let’s go January 11 lotto day we get any licenses we rock !!
Aldershot Resources Ltd. is pleased to announce its transition to Solo Growth Corp.™
Solo Growth Corp.™, a Canopy Rivers' portfolio best-in-class company.
https://www.canopyrivers.com
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
95
|
Created
|
10/16/18
|
Type
|
Free
|
Moderators |
ACTION TYPE | EFFECTIVE DATE | SYMBOL | DESCRIPTION |
---|---|---|---|
Symbol Change | 03/24/2021 | YSSCD | Symbol change from YSSCF to YSSCD |
No dividends
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |