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Another new 52 Week High.
Look at all that volume and support.
This could run for a while with the amount of coverage and government regulations kicking in.
GLTA & JMO
Up another 3% AH.
GLTA & JMO
Nice day here.
Finished at HOD.
GLTA & JMO
INDEED.
Cant complain. PT was bumped to $11+
All covering analysts have it as a BUY.
GLTA & JMO
New 52 week high. :)
XBC continues to be a gem in a great space.
GLTA & JMO
Welcome.
And thanks for your thoughts. We are in the very early stages of a huge growth story.
Im very bullish on this and other social impact equities.
XBC will be my darling for a few years Im sure.
GLTA & JMO
Can a mod please PIN this.
GLTA & JMO
HEXO Corp to acquire Newstrike Brands Ltd.
With this acquisition, HEXO will add 470,000 sq. ft. in production space when completed, additional public and private retail channels, and a branding relationship with members of The Tragically Hip
HEXO Corp ("HEXO") (TSX: HEXO; NYSE-A: HEXO) and Newstrike Brands Ltd. ("Newstrike") (TSX-V: HIP) are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), all of Newstrike’s issued and outstanding common shares in an all-share transaction valued at approximately $263 million (the "Transaction").
Under the terms of the Arrangement Agreement, Newstrike shareholders will receive 0.06332 of a HEXO common share in exchange for each Newstrike common share held.
The Transaction has been unanimously approved by the board of directors of each of HEXO and Newstrike, and Newstrike’s board of directors recommends that its shareholders vote in favour of the Transaction.
Transaction Highlights
Capacity boost with state-of-the-art cultivation infrastructure: The Transaction gives HEXO the capacity to produce approximately 150,000 kg of high-quality cannabis annually. The Transaction also provides HEXO access to four cutting-edge production campuses totalling close to 1.8 million sq. ft. of near-term cultivation space and diversified growing and production techniques. This is in addition to HEXO’s 579,000 sq. ft. facility for a manufacturing and product development centre of excellence in Belleville, Ontario.
Diversified domestic market penetration: Combined, HEXO and Newstrike have established distribution agreements in 8 provinces including Ontario, Quebec, British Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia, and Prince Edward Island, allowing broad consumer access to HEXO’s products across Canada.
Premium indoor facility: Newstrike’s licensed indoor facility provide HEXO with access to diversified growing techniques and positions HEXO for flexibility for international exports as global cannabis markets continue to open.
Accretive synergies: The combined entity is estimated to realize annual synergies of $10 million, allowing HEXO to operate more efficiently with a commitment to continued excellence.
“We're thrilled to welcome the Newstrike team into the HEXO family. Jay Wilgar (CEO of Newstrike) and his team have built incredible relationships, including teaming up with The Tragically Hip, and they share HEXO’s vision of bringing exceptional branded cannabis experiences to adults everywhere,” said Sebastien St-Louis, CEO and co-founder of HEXO Corp “With Newstrike, we're adding talented employees and infrastructure to take HEXO to the next level on our journey to become one of the largest cannabis companies in the world. We're extremely proud of our record of execution, and today are committing to achieving over $400 million in net revenue in 2020.”
“This is the most compelling combination we see in the Canadian cannabis sector. Our strength in Ontario and English Canada clearly complements HEXO’s strong position in Quebec and creates an industry leader. The combination will deliver meaningful synergies, a stronger financial position with increased flexibility, and will position the combined company to meet growing consumer demand on a national basis. I believe this transaction is beneficial to our shareholders, customers, and employees. We look forward to working closely with the leadership team to complete this transaction," added Jay Wilgar, CEO of Newstrike.
Additional Transaction Details
The Transaction will require approval by (i) at least 66 2/3% of the votes cast by the shareholders of Newstrike; and (ii) a simple majority of the votes cast by disinterested shareholders of Newstrike, present at a special meeting of Newstrike shareholders. HEXO has entered into irrevocable hard voting support agreements with each of Newstrike’s directors and officers, along with certain other shareholders of Newstrike, representing in aggregate approximately 25% of Newstrike's issued and outstanding common shares.
The Arrangement Agreement includes customary provisions including non-solicitation provisions, subject to the right of Newstrike to accept a superior proposal in certain circumstances, with HEXO having a five business day right to match any such superior proposal for Newstrike. The Arrangement Agreement also provides for a termination fee of $7.5 million payable by Newstrike to HEXO if the Transaction is terminated in certain specified circumstances, as well as a reciprocal $1 million expense reimbursement fee to either party if the Transaction is terminated in certain other specified circumstances.
In addition to Newstrike shareholder approvals, the Transaction is subject to the receipt of certain regulatory court and stock exchange approvals and the satisfaction of other conditions customary in transactions of this nature.
Upon completion of the Transaction, existing HEXO and Newstrike shareholders would own approximately 86% and 14% of the pro forma company, respectively, on a fully diluted basis.
Further information regarding the Transaction will be included in the information circular that Newstrike will prepare, file, and mail in due course to its shareholders in connection with its special meeting to be held to consider the Transaction. The Arrangement Agreement will be filed on the SEDAR profiles of Newstrike and HEXO on the SEDAR website at www.sedar.com.
None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon the exemption from such registration requirements provided by Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Recommendation of Newstrike’s Board
Newstrike’s board of directors has unanimously determined, after receiving the unanimous recommendation of a special committee formed for purposes of the Transaction, and financial and legal advice, that the Transaction is in the best interests of Newstrike and its security holders, and the board of directors unanimously recommends that Newstrike’s shareholders vote in favour of the Transaction.
The board of directors of Newstrike has obtained a fairness opinion from RBC Capital Markets that, as of the date of the opinion, and subject to the assumptions, limitations, and qualifications on which such opinion is based, the consideration to be received pursuant to the Transaction is fair, from a financial point of view, to the Newstrike shareholders.
Advisors and Counsel
RBC Capital Markets is acting as the exclusive financial advisor to Newstrike. Stikeman Elliott LLP is acting as legal counsel to Newstrike. Osler, Hoskin & Harcourt LLP is acting as legal counsel to special committee of the board of directors of Newstrike.
Norton Rose Fulbright Canada LLP is acting as legal counsel to HEXO.
HEXO Financial Outlook
Based on the completion of the Transaction, for fiscal 2020, HEXO estimates net and gross revenues from the sale of cannabis in Canada will be in excess of $400 million and $479 million respectively.
This estimate is based on management’s current views, strategies, expectations, assumptions and forecasts, and has been calculated using accounting policies that are generally consistent with our current accounting policies. The estimate is derived from the expected net revenues from the sale of cannabis and cannabis products in the Canadian market alone. In addition, the estimate excludes the activity of current and future joint ventures, including HEXO’s Truss joint venture, as well as any merger and acquisition activity other than the Transaction.
This estimate is considered a financial outlook under applicable securities laws. The estimate and any other financial outlooks or future-oriented financial information included herein has been approved by management of HEXO as of the date hereof. Such financial outlooks or future-oriented financial information are provided for the purpose of presenting information about management's current expectations and goals relating to the future business of HEXO. Readers are cautioned that actual results may vary materially as a result of a number of risks, uncertainties and other factors, many of which are beyond HEXO’s control. See “Cautionary Note Regarding Forward-Looking Statements”.
About HEXO
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO Corp operates with 1.8 million sq. ft of facilities in Ontario and Quebec and a foothold in Greece to establish a Eurozone processing, production and distribution centre. The Company serves the Canadian adult-use and medical markets. For more information please visit hexocorp.com.
About Newstrike
Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. Newstrike, through Up Cannabis and together with select strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands.
Strong volume and huge Bids coming in.
Lets see if we can close above $8 and send the shorts screaming tomorrow.
:)
GLTA & JMO
GTEC Announces Tumbleweed Farms Evidence Package Submission to Health Canada to Confirm Readiness of Cultivation License
GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that Tumbleweed Farms (the “Facility”) has submitted its Affirmation of Readiness and Video Evidence Package (the “Evidence Package”) to Health Canada. The Evidence Package submission is the final step required in order to demonstrate and confirm to Health Canada that the Facility is fully built, operationally ready and is in compliance with the Cannabis Act and Regulations, prior to being issued its Standard Cultivation License. The Facility has also received all other necessary municipal approvals in order to operate, including an Occupancy Permit from the Thompson-Nicola Regional District.
In addition to the existing cultivation license at the Company’s Alberta Craft Cannabis facility in Edmonton, Tumbleweed Farms is the first purpose-built indoor facility that GTEC has completed in order to produce, market and distribute its ultra-premium flower. The Company’s initial planned cultivation footprint is expected to span a total of 120,000 square feet, across three Provinces (Tumbleweed Farms in British Columbia, Alberta Craft Cannabis in Alberta, and Grey Bruce Farms in Ontario), with the anticipation of reaching an estimated annual output of 14,000 kg of indoor flower within 2019 (through the completion of GreenTec Bio-Pharmaceuticals and 3PL, both in British Columbia).
“We are excited to deliver another instrumental milestone to our shareholders, and to further increase our existing cultivation capacity,” said Norton Singhavon, Founder, Chairman and CEO of GTEC. “We look forward to Health Canada’s response and; subject to meeting all of the necessary requirements, the issuance of the Company’s second Standard Cultivation License.”
On January 30, 2019 the Company issued a press release stating the construction at the Tumbleweed Facility was complete, and that management had expected its final submission into Health Canada the following week. Management had made the decision to postpone its submission to Health Canada and to engage with its regulatory consultant, Cannabis Compliance Inc to conduct an in-depth gap analysis to review and address any deficiencies that would potentially arise with Health Canada before its submission.
Tumbleweed Farms’ initial phase consists of 10,000 square feet for indoor cultivation, strategically located in Chase BC, about 8kms from the Trans-Canada Highway and situated just outside of the Kamloops City limits. The property sits on 23 acres of land with significant future expansion capabilities and access to an on-site gravity fed natural artesian well.
Amending Agreement and Vendor Milestone Payments
The Company has also entered into an agreement on March 4, 2019 (the “Amending Agreement”), amending certain terms and conditions of the definitive share purchase agreement with the Vendors of Tumbleweed Farms, dated August 12, 2017, as amended. The Amending Agreement replaced, among other things, the previous cash milestone payments with the following:
Upon the Company submitting an evidence package in connection with its application for a licence for cultivation from Health Canada, the Company is to issue $2,250,000 worth of common shares of GTEC (each, a “Common Share” and collectively, the “Common Shares”) at a deemed price per Common Share equal to the 30-day VWAP.
In connection with the Amending Agreement, GTEC intends to issue an aggregate of $2,250,000 of Common Shares in satisfaction of the above-mentioned milestone payment. Accordingly, the Company will issue 3,759,319 Common Shares to the Vendors at a deemed value of approximately $0.60.
GTEC Retains Market-Making Services
GTEC has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.
For more information about the TSX Venture Market Making Program, please visit:
https://www.tsx.com/trading/toronto-stock-exchange/order-types-and-features/market-maker-program
About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000 kg to 14,000 kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT™, Tenzo™, GreenTec™, Cognoscente™, Treehugger™, and FN™. The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.
Only bulltarded shareholders.
GLTA & JMO
Xebec Adsorption is a growth stock to own in 2019
Following a new contract win, Beacon Securities analyst Ahmad Shaath has raised his price target on Xebec Adsorption (Xebec Adsorption Stock
This morning, Xebec announced it had signed a new $6-million contract for a landfill biogas plant in Italy.
“Upgraded landfill gas to RNG is playing an increasingly important role in the deployment of low carbon fuels in transportation. We expect Xebec to be a fundamental change agent in this transition, as we move from a fossil fuel economy to a low carbon renewable energy future,” CEO Kurt Sorschak said.
Shaath says the wind is at Xebec’s back when it comes to RNG projects.
“We continue to see traction in RNG with recent targets set by SoCalGas adding >$500 million revenue opportunity,” the analyst says. “Last week, The Southern California Gas Company (“SoCalGas”) set medium and longterm targets for RNG on its push to become North America’s cleanest utility. SoCalGas set a target to replace 20% of its natural gas supply with RNG by 2030, with a short-term target of 5% RNG supply by 2022. California is the second largest consumer of Nat gas in the US, with over 2.1 trillion cubic feet “Tcf” (<8% of total US consumption). Compared to XBC’s current significant RNG markets, California ranks second to Italy (2.6 Tcf) and ahead of France (~1.6 Tcf). Benchmarking against Italy and France’s allocated budgets, we estimate California would need to spend upwards of $3.0 billion to achieve its goal. XBC’s immediate market opportunity is upward of $500 million. We highlight that SoCalGas has already filed a request asking California Public Utility Commission to allow customers to buy RNG in their home by the end of this year. The state’s RNG market is still in its first inning, with the RNG flowing to SoCalGas’ pipelines for the first time in 2H/FY18. Additionally, according to the DOE the US’ production of RNG is expected to grow at >20% CAGR for the next 12 years, from 1 Tcf to 10 Tcf.”
In a research update to clients today, Shaath maintained his “Buy” rating on XBC, but raised his one-year price target from $1.70 to $1.90, implying a return of 46 per cent at the time of publication.
Shaath thinks Xebec will post Adjusted EBITDA of $1.9-million on revenue of $27.4-million in fiscal 2018. He expects those numbers will improve to EBITDA of $6.0-million on a topline of $50.0-million the following year.
“FY19E will be the first year where XBC starts delivering on its largest RNG order, and with the new win, we expect the company to record $50 million revenues in FY19,” the analyst adds. “This should increase confidence in XBC’s ability to land larger orders ($10-$20 million per project). For reference, a year ago XBC’s clients were more focused on the company’s size given its LTM revenue of <$15 million and backlog that was less than that. Today, XBC’s clients should have increased confidence in its ability to deliver given its backlog of over $75 million and project wins of >$5 million becoming the norm.”
HEXO is the First Cannabis Company to Join Food & Consumer Products of Canada
MARCH 12, 2019
GATINEAU, Quebec, March 12, 2019 (GLOBE NEWSWIRE) — HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO) (NYSE-A: HEXO) is pleased to announce it is the first cannabis company to join Food & Consumer Products of Canada (FCPC), the largest voice of the Canadian food, beverage, and consumer products industry. FCPC exists to help its members deliver safe and affordable products that enrich people’s lives.
“HEXO is thrilled to be the first cannabis company to join the Food & Consumer Products of Canada, an established and industry-leading association in the consumer-packaged goods space,” said Sébastien St. Louis, HEXO Corp’s CEO and co-founder. “We look forward to working with FCPC and all their members to forge new relationships and potential partnerships. It is an exciting time to be in the ever-evolving cannabis industry.”
HEXO is looking forward to meeting FCPC members in the coming months as the company continues to expand through innovation and reach new global markets. FCPC members are provided unique interactions with industry leaders, helping to shape the business environment, share research and resources, and access educational programs and industry insights.
“FCPC is very excited to welcome HEXO Corp as our newest member and our first ever in the cannabis space,” said Michael Graydon, CEO of FCPC. “As the voice of Canada’s food, beverage and consumer goods companies, we look forward to expanding into this new sector while continuing to provide value for members through a relentless focus on building an operating environment that fosters competitiveness, innovation and growth.”
HEXO has supply agreements in Quebec, British Columbia and Ontario, and a strategic investment in the private cannabis retailer Fire & Flower. HEXO has also entered into an agreement with Molson Coors Canada creating Truss, a joint venture to develop and distribute non-alcoholic cannabis-infused beverages. In January 2019, HEXO stock commenced trading on the NYSE-A.
About HEXO Corp
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO Corp operates with 1.8 million sq. ft of facilities in Ontario and Quebec and a foothold in Greece to establish a Eurozone processing, production and distribution centre. The Company serves the Canadian adult-use and medical markets. For more information please visit hexocorp.com.
About FCPC
Food & Consumer Products of Canada is Canada’s largest voice representing the companies that manufacture and distribute the vast majority of food, beverage and consumer goods found on store shelves. Our sector provides high-quality jobs to almost 300,000 Canadians – more than any other manufacturing sector. Our membership includes small and large multi-national and Canadian-owned companies. Learn more at www.fcpc.ca.
Looks like the penny harvest is over. For the 15th time.
And with it Nasdaq dreams.
LMAO
Denial is not just a river in Egypt.
GLTA & JMO
Xebec Receives Another Significant Order in Italy
03/12/2019
MONTREAL, March 12, 2019 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF) (FRANKFURT: XB6) (“Xebec”), a global provider of renewable gas solutions has signed a CDN$6+ million contract for a landfill biogas upgrading plant in Italy, to be delivered in late 2019. Fully operational, it will produce ~5 million m3 of carbon neutral Renewable Natural Gas (RNG) annually, replacing the equivalent of approx. 5 million liters of diesel fuel.
Similar RNG projects are developing throughout the EU, driven by both environmental regulations and government incentives. The Italian Government recently set aside Euro 4.7 billion (CDN$7.4 billion) in incentives to aid large gas consumers as well as incentives for biomethane in transport. Since then, Italy’s gas operator, SNAM, has received more than 800 requests from potential biomethane producers to connect their upcoming biomethane production sites to the existing gas grid, indicating a market size for biogas upgrading equipment in excess of CDN$ 1.5 billion over the next 3 to 5 years.
The Landfill Gas-to-Energy market is undergoing a fundamental change, in as far as Landfill Gas-to-Electricity projects are today financially challenging. Solar and wind power projects offer electricity rates as low as 0.05 euros per kwh, a rate Landfill Gas-to-Electricity projects can no longer compete with. Consequently, more and more waste companies and developers are looking toward Landfill Gas-to-Fuels, especially to RNG as a low carbon fuel alternative with a much better value proposition than electricity and a significantly higher return on investment (ROI).
“This project represents solid sales growth for Xebec Europe, positioning us as a key player in the energy transition space. It also highlights our proven technology capability in handling biogas upgrading with high nitrogen content.”
– Dr. Francesco Massari, General Manager, Xebec Europe
“Upgraded landfill gas to RNG is playing an increasingly important role in the deployment of low carbon fuels in transportation. We expect Xebec to be a fundamental change agent in this transition, as we move from a fossil fuel economy to a low carbon renewable energy future.”
– Kurt Sorschak, President and CEO, Xebec Adsorption Inc.
“Xebec is perfectly positioned to take advantage of this fast-growing global market as our innovative, proprietary, fast cycle adsorption technology is generating an increasing amount of customer interest, mainly due to lower initial investment costs, low operating and maintenance costs, flexible and stable performance, combined with high durability and reliability.”
– Dr. Prabhu Rao, COO, Xebec Adsorption Inc.
Related links:
https://www.xebecinc.com
For more information:
Xebec Adsorption Inc.
Sandi Murphy, Director, Marketing and Investor Relations
+1 450.979.8718 smurphy@xebecinc.com
JiveTech Global!
LOL
Nasdaq.. *wink wink*
I cant even make this stuff up.
GLTA & JMO
Unfortunately they wont qualify. There are definitive qualifications that make any presence on the Nasdaq for a company of this nature impossible.
Its not in their control.
Its all fun and games until someone loses a fortune.
GLTA & JMO
Indeed. Nice to be in a bundle with all the big boys.
:)
GLTA & JMO
And another new 52 week high.
$1.34
GLTA & JMO
HEXO Added to S&P/TSX COMPOSITE INDEX – March 18, 2019
:)
GLTA & JMO
LMFAO.
On March 6, 2019, stockholders holding more than 51% of the voting power of the Company (the stockholders, the “Consenting Stockholders”) consented in writing to amend the Company’s Articles of Incorporation, as amended (the “2019 Amendment”). This consent was sufficient to approve the 2019 Amendment under Nevada law. The attached Information Statement describes the 2019 Amendment that the stockholders of the Company have approved, which will do the following: (1) authorize an increase in the authorized shares of the Company’s common stock to 1,000,000,000 shares, par value $.00001, (2) authorize the Board to take all steps necessary to effect, at any time prior to the one-year anniversary of the date of the written consent, a reverse stock split of all outstanding shares of our common stock at an exchange ratio of up to one-for-three hundred (1:300) shares (“Reverse Stock Split”) and (3) change the name of the Company from Spectrum Global Solutions, Inc. to WaveTech Global, Inc.
LOL
I cant even make this stuff up.
GLTA & JMO
Remember when the PPS spiked just before the last RS?
LOL
They need the Post - RS PPS to be as high as possible for all the dilution.
And the ASK is now at 100K which will quickly crater any BIDS.
Its like deja-vu all over again.
I cant even make this stuff up.
GLTA & JMO
The pump is real ahead of another RS.
And insider dilution.
SEC / FINRA must be impressed. LOL
The spigots are wide open.
GLTA & JMO
I think some will sell regardless of news when the price appreciates sharply.
The upsize in placement offering is a direct result of demand.
I believe GTEC is going to be a sought after supplier on the west coast once all production is online.
Very undervalued at the moment IMO.
GLTA & JMO
I'm not a lawyer but I don't believe its technically criminal; although it is absolutely underhanded.
They moved to Nevada and set themselves up with voting preferreds for just one reason.
That is when the shareholder pool should have figured out what was happening.
Its too late to cry about it after the fact.
Live and learn.
GLTA & JMO
You gotta look at the entirety of the quagmire. It was pretty obvious.
False idols are not an excuse for a poor investment decision.
GLTA & JMO
BINGO.
And those who wish to help get cast in the darkest light.
GLTA & JMO
And another new high.
XBC is getting some good coverage now. Looks like we could be at the ground floor of a blue sky opportunity.
G:TA & JMO
GTEC Holdings Announces Alberta Craft Facility Completes First Harvest of the Year and Now Operating in Full Production
GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that Alberta Craft Cannabis (“ACC”) has completed its first harvest of 2019 and is now operating at a fully utilized production capacity and anticipates to be harvesting every 10 days. The Company expects that ACC will exceed its anticipated annual output of 1,300 KG due to harvests producing higher yields than originally projected. The Company is also experiencing a significant demand for its premium tiered flower produced at ACC, which is now being sold to multiple Licensed Producers on a B2B basis.
ACC’s previous harvests of Cold Creek Kush has become the #1 selling product on CannMart’s online medical cannabis platform, which is packaged and sold under GTEC’s flagship medical brand, GreenTec™. CannMart is a wholly owned subsidiary of Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF).
“We are extremely proud of the high demand and positive feedback from the products we have distributed to Canadian cannabis consumers to date.” said Norton Singhavon, Founder, Chairman and CEO of GTEC. “We believe that this demonstrates our ability to execute on our vision of producing, marketing and distributing an ultra-premium product to the Canadian medical and adult-use market.”
The Company would also like to provide the following updates on its other cultivation subsidiaries:
Tumbleweed Farms (“Tumbleweed”) is our 10,000 sq.ft. purpose-built facility in Chase, BC which has recently completed construction. The company is actively pursuing its Cultivation License for this facility. Tumbleweed is projected to produce 1,000 KG of cannabis annually.
Grey Bruce Farms (“Grey Bruce”) is a 15,000 sq. ft. cannabis cultivation facility in Kincardine, Ontario. The Company has completed a major retrofit of an existing industrial building and anticipates fully completing the facility this month. Grey Bruce is projected to produce 1,640 KG of cannabis annually.
GreenTec Bio-Pharmaceuticals (“GreenTec”) is GTEC’s flagship and purpose-built facility located in Kelowna, BC. GreenTec is currently in Phase 1 of development, building 20,000 sq. ft. of its planned 80,000 sq. ft. cannabis cultivation facility. Construction of this facility commenced in 2018 and is expected to be completed in mid-2019. GreenTec is projected to produce 2,150 KG of cannabis annually.
3PL Joint Venture (“3PL”) is a GTEC agreement with F-20 Developments Corp. to develop a premium indoor cultivation facility in Vernon, BC. The 3PL (three per light) facility is currently being retrofitted to facilitate the cultivation of ultra-premium cannabis. Phase 1 of this partnership is currently underway, with completion anticipated in Q3 2019. 3PL is projected to produce 8,000 KG of cannabis annually.
About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000 kg to 14,000 kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT™, Tenzo™, GreenTec™, Cognoscente™, FN™, and Treehugger™. The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.
GTEC Holdings Engages Oak Hill Financial Inc. to Provide Investor Relations Services
GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that it has retained Oak Hill Financial Inc. (“Oak Hill”) to provide investor relations services to the Company in compliance with regulatory guidelines.
Oak Hill is a Toronto-based firm which develops strategic platforms for its clients that are utilized to gain exposure and recognition to the capital markets. Oak Hill provides asset management, capital market and investor relations services. Its team has marketed corporate issuers ranging in market cap from $10M to $1B in a variety of different sectors to the Canadian retail brokerage channel, family offices and institutional networks. Oak Hill’s team of has experience across equity capital markets, equity research, portfolio management, institutional equity sales, and traditional investor relations – resulting in tailored and highly collaborative solutions. Oak Hill is located at 181 Bay Street, Suite 1030 in Toronto.
Oak Hill will work closely with GTEC to develop and deploy a comprehensive capital markets strategy and campaign. Activities will include providing an investor relations program catering to retail investors, marketing services and an ongoing client services program.
Under the terms of engagement, Oak Hill has been retained for a five-month period at $40,000 for the full term. The Company has also granted 100,000 stock options to Oak Hill at an exercise price of $0.57, expiring March 1, 2022. The options will vest in five equal tranches and will vest in full on March 1, 2020. This agreement is subject to the approval of the TSX Venture Exchange.
About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000 kg to 14,000 kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT ™, Tenzo ™, GreenTec ™, Cognoscente ™, FN ™, and Treehugger ™. The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.
New 52 week high.
:)
GLTA & JMO
GTEC Announces $6.1 Million First Tranche Closing of Upsized Private Placement
GTEC Holdings Ltd. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced upsized private placement offering led by Sprott Capital Partners LP (the “Agents”) pursuant to which the Company issued 11,126,753 units of the Company (each a “Unit” and collectively, the “Units”) at a price of $0.55 per Unit for gross proceeds of $6,119,714.15. The Company intends to raise up to $8,000,000 pursuant to both closings of this offering (the “Offering”). The Agents have the option to increase the size of the Offering by up to 25% (the “Agents’ Option”) for additional gross proceeds of up to $2,000,000, which Agents’ Option is exercisable, in whole or in part, at any time up to 48 hours prior to the final closing date of the Offering.
“We are extremely pleased with the growing demand from investors and the results of this financing” said Norton Singhavon, Founder, Chairman & CEO of GTEC. “With the proceeds of this financing, we are fully funded to execute on our 2019 plans to increase our capacity to 14,000kg this year. We are also excited to take on new shareholders offering long-term institutional support as we continue to execute on our vision to produce, market and distribute ultra-premium cannabis and its derivatives to Canadian consumers.”
Each Unit issuable under the Offering consists of one common share of the Company (the “Common Shares”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant” and collectively, the “Warrants”), with each Warrant exercisable at $0.90 for a period of 24 months from the date of issuance. The Warrants are subject to an acceleration clause that allows the Company to accelerate the expiry date of the Warrants to 30-days from delivery of such notice, in the event that the volume weighted average price of the Common Shares on the TSX Venture Exchange (the “Exchange”) equals or exceeds $1.50 for 20 consecutive trading days.
The Company has agreed to pay the Agents, other than in respect of certain purchases, (i) a cash commission equal to 6% of the gross proceeds of the Offering and (ii) broker warrants (each a “Broker Warrant”) in a number equal to 6% of the number of Units sold under the Offering. Each Broker Warrant is exercisable to acquire one Unit at $0.55 for a period of two years from the closing date of the Offering.
The net proceeds of the Offering will be used for general corporate and working capital purposes. The second tranche close of the Offering is expected to occur on or about March 19, 2019 (the “Closing Date”) and is subject to receipt of all necessary regulatory approvals, including the approval of the Exchange.
All securities issued pursuant to the Offering will be subject to a statutory hold period lasting four months and one day following the closing date of each tranche.
Insiders of the Company subscribed for an aggregate of 873,869 Units. Norton Singhavon, Co-Founder, President and Chief Executive Officer of the Company subscribed for an aggregate of 280,869 Units (91,741 Units were subscribed through a holding company owned by Mr. Singhavon) and Michael Blady, the Co-Founder and Vice-President of the Company subscribed for 500,000 Units. In addition, David Lynn, the Chief Operating Officer and Aaron Dow, a director of the Company subscribed for 20,000 and 73,000 Units respectively. Such participation is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The related party transaction is exempt from minority approval, information circular, and formal valuation requirements pursuant to the exemptions contained in Sections 5.7(a) and 5.5(a) of MI 61-101, as neither the fair market value of the gross securities issued under the Offering nor the consideration paid by the insiders exceed 25% of the Company’s market capitalization
About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities. The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000 kg to 14,000 kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT ™, Tenzo ™, GreenTec ™, Cognoscente ™, FN ™, and Treehugger ™. The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.
Hopefully tuition is a cost one only needs to pay once.
Hopefully.
GLTA & JMO
New 52 week low.
Hip Hip Whocares!
Better to be out with a loss than a tombstone.
:)
GLTA & JMO
Timmmmmbeeeeeeeerrrrrrrrrrrr!
Who needs 3 beers?
LOL
GLTA & JMO
LMFAO.
Fortune favours the broke is the new saying.
GLTA & JMO
Amen!
GLTA & JMO
Yikes.
Lots of good people get hurt in pennyland.
And some stick around to help prevent the pattern from repeating.
But we know how that usually looks.
GLTA & JMO
LOL.
How many times does one have to be duped.
Unless there is an 8K its BS. And/or insider information.
Both are more RED FLAGS.
I'd get out before the lights go completely out.
Insiders will say anything to keep the stock price from breaking past the previous low.
THINK of all those shares about to have their legends removed.
GLTA & JMO
Its amazing what kind of crazy things happen after 3 beers.
LOL
This will break support sooner than later and when it does it will be back to sub-penny until the RS.
GLTA & JMO