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Bringing the term sheet back up just made my heart sink... Look at the valuation... I wanna cry. Interesting to note at the time they thought it would be trading on an exchange by March 2017
Issuer: Canopy Health Innovations (the “Company”).
Issue: Treasury offering (the “Offering”) of 4,000,000 common shares (the “Shares”)
Issue Price: C$1.50 per Share (“Issue Price”), representing a pre-money valuation of C$9,000,000
Issue Size: C$6,000,000
Capital
Structure:
Pro-forma shares outstanding are anticipated to be 10 million. Subscribers in the Offering
will own 40% of the shares outstanding, and the Company’s management, researchers, and
Canopy Growth Corporation will own the remaining 60%. There are currently no options,
warrants or debt outstanding.
Use of Proceeds: The net proceeds of the Offering will be used for observational studies, research costs, as
well as working capital and general corporate purposes.
Form of
Offering:
Best efforts private placement, subject to termination clauses including “due diligence” out,
“disaster” out, “material adverse change” out, “breach” out and “market” out clauses
commencing upon acceptance of this offer and terminating on the Closing Date.
Form of
Agency:
Private placement to “accredited investors” and other exempt purchasers in all provinces of
Canada as agreed upon and in the United States pursuant to exemptions from the registration
requirements under Regulation D of the U.S. Securities Act of 1933.
The Offering will also be made available to offshore investors pursuant to relevant prospectus
or registration exemptions in accordance with applicable laws.
Hold Period: The Company is a private company and there is currently no market through which its
securities may be sold and holders may not be able to resell securities purchased under this
Issue. The Shares may be subject to an indefinite hold period pursuant to applicable
securities laws.
Liquidity Event: The Company shall use its reasonable best efforts to complete a listing on a mutually
agreed upon stock exchange on or before March 31, 2017 (“Liquidity Event”).
Eligibility: The Shares will not be qualified investments under the Income Tax Act (Canada) for
registered accounts.
Agent: Dundee Securities Ltd.
Commission: 8.0% cash commission (3.0% cash fee on the President’s List).
Closing Date: On or about November 18, 2016
My biggest regret was turning down the opportunity to buy into Canopy Health Innovations when it was offered Oct. 2016. It was offered before the hype and epic run to $17.
Are domestic German production licenses still expected for March? It's been pushed back so many times already.
Order #712535 just now
#68777- just placed. About a 1000 orders since Bazawar's in the past hour and a half. The power of $6 Bakerstreet!
Were you looking at a support line of $20.38, our previous high close before this weeks run-up?
Order #64893-
All time high today so I splurged. Largest order to date. Bought the 6 strain Humidor and a Tweed Crewneck sweater. Nearly a $700 total with all the strains.
The buyer of Friday's 307K share MOC order nailed it!
Short turnaround time to get that license granted. Denmark has embraced Canopy with open arms I love it. A couple points to note:
"Cannabis produced at the Odense facility is forecasted to exceed the needs of the Danish market and will be exported to other federally legal jurisdictions in the European Union."
AND
"The licence is being issued without conditions, meaning that Spectrum Cannabis Denmark will not be limited to a production cap or limited to the product formats it can produce."
What a perfect combination :)
http://www.newswire.ca/news-releases/cannabis-production-in-the-european-union---spectrum-denmark-granted-production-licence-664967913.html
The 307K share MOC order was worth about $6M. The reason for it could be because of the ETF. The following article says the ETF needed to unload $6M of Canopy.
https://www.newcannabisventures.com/cannabis-etf-required-to-reduce-exposure-to-large-canadian-lps/
Have a nice weekend iHubers!
On the German license front... Not Canopy specific but it could apply to all applicants.
"A further delay in the tender process may occur due to ongoing legal proceedings, however, a final decision may be forthcoming as early as March of 2018."
https://www.newcannabisventures.com/maricann-prepares-for-pharmacy-distribution-and-exports-to-europe/
Canopy and Rivers did not invest $52,500,000.
Canopy and Rivers combined invested $24.8M equally to each have a 12% share of TER. The remainder of the investment came from JW Asset Management (US Firm) for a 37% share of the company.
https://www.newcannabisventures.com/terrascend-closes-transformational-funding-deal-with-canopy-growth-canopy-rivers-and-jw-asset-management/
Looks like German licenses will be further delayed. March 2018 at the earliest according to MariCann's press release following their quarterly results.
"Maricann’s joint venture partner has submitted bid documents for the German government’s tender process for regulated cannabis, following qualification in the first round of such process as one of 10 successful applicants to move forward (of 118 applicants in total). The tender process has been delayed multiple times due to ongoing legal proceedings related to unsuccessful submissions by other applicants in the initial qualifying round. A further delay in the tender process may occur due to ongoing legal proceedings, however, a final decision may be forthcoming as early as March of 2018."
https://www.newcannabisventures.com/maricann-prepares-for-pharmacy-distribution-and-exports-to-europe/
On point my man on both topics
I'm trying to map out Canopy's 9 Craftgrow partners.
https://www.newcannabisventures.com/canopy-growth-adds-delta-9-as-9th-craftgrow-partner/
We have:
-Delta9
-Sweetgrass
-TerrAssend
-Pheinmed Inc
-Canada's Island Garden
-JWC LTD
-AB Laboratories (Invictus MD)
-?
-?
Anyone know who the missing two are?
I believe the earliest date for the German announcement is Dec 21 or 22. I can't locate the exact article stating it.
The article below outlines why there have been so many delays as license announcements were originally anticipated in late Sept or Oct
https://www.cannabisindustryjournal.com/news_article/what-is-going-on-with-germanys-cannabis-bid/
Order #61320-
Bakerstreet is back!
Was thinking of that as well especially with the recent Auscann adjustment. I would like to get a piece of it at some point.
Order #60743-
Bruce has made it known there have been other suitors looking at taking a stake in Canopy just like Constellation Brands has done. It's in STZ's best interest for any new suitor to pay as high a price possible.
Maybe it has sent the day traders reeling but investors are thrilled at the moment
I've seen Yoda pop in here a few times recently. I've met up with TMEvans a couple times in person. He's around just not posting.
What happened to Joepub? He had a large boatload of shares back in the day. Remember when he dropped the share price a couple % by himself selling some shares back in the 40k-60k volume days
Lol okay I thought so right after I wrote the post. It did seem very uncharacteristic of you to make a bearish call like that to $8.
Please excuse my ignorance but could you please explain what a goji gold cross of death is?
Something gargantuan like a NR saying they received 4 out of the 7 German growing licenses they applied for?! That's the most gargantuan thing I can think of at the moment.
Order #55519-
Unfortunately I did not have any funds available at the time unless I sold some of my Canopy, Mettrum or Aphria positions which were all tucked away in a TFSA. It's yet to be seen what would have been a better move. I do not believe CHI is listed on a public exchange yet.
Sold out already too. Mine got delivered today looking forward to opening it.
This is from the CHI term sheet from the offering I got in October 2016.
Issuer:
Canopy Health Innovations (the “Company”).
Issue:
Treasury offering (the “Offering”) of 4,000,000 common shares (the “Shares”)
Issue Price:
C$1.50 per Share (“Issue Price”), representing a pre-money valuation of C$9,000,000
Issue Size:
C$6,000,000
Capital Structure:
Pro-forma shares outstanding are anticipated to be 10 million. Subscribers in the Offering will own 40% of the shares outstanding, and the Company’s management, researchers, and Canopy Growth Corporation will own the remaining 60%. There are currently no options, warrants or debt outstanding.
Use of Proceeds:
The net proceeds of the Offering will be used for observational studies, research costs, as well as working capital and general corporate purposes.
Form of Offering:
Best efforts private placement, subject to termination clauses including “due diligence” out, “disaster” out, “material adverse change” out, “breach” out and “market” out clauses commencing upon acceptance of this offer and terminating on the Closing Date.
Form of Agency:
Private placement to “accredited investors” and other exempt purchasers in all provinces of Canada as agreed upon and in the United States pursuant to exemptions from the registration requirements under Regulation D of the U.S. Securities Act of 1933.
The Offering will also be made available to offshore investors pursuant to relevant prospectus or registration exemptions in accordance with applicable laws.
Hold Period:
The Company is a private company and there is currently no market through which its securities may be sold and holders may not be able to resell securities purchased under this Issue. The Shares may be subject to an indefinite hold period pursuant to applicable securities laws.
Liquidity Event:
The Company shall use its reasonable best efforts to complete a listing on a mutually agreed upon stock exchange on or before March 31, 2017 (“Liquidity Event”).
Eligibility:
The Shares will not be qualified investments under the Income Tax Act (Canada) for registered accounts.
Agent:
Dundee Securities Ltd.
Commission:
8.0% cash commission (3.0% cash fee on the President’s List).
Closing Date:
On or about November 18, 2016
Order #545017 placed now. 647 orders placed in an hour since Dlicious placed his order.
I use the Air. I like the milkshake analogy -Kush-
If you have the means get the Mighty Medic. It pulls amazingly and the loadable pods are so much more convenient and clean. A friend of mine who is also a Tweed client got it. I'm really pissed I blew my 1 time Tweed vapourizer discount on the Arizer Air instead of the Mighty Medic.
Tweed Brand 20mg CBD oil Bailey incoming. I really want to see CBD only gelcaps out. New Lot#6 on the way as well. It's been a long time DNA Super Lemon OG coming back.
On another note I was very pleasantly surprised with the sungrown Boaty. It actually looks and smells better than the indoor. Every other sungrown product I've had has been vastly inferior to the indoor version.
Order #51645-
3100 orders in 46 hours
Brand new $6 indoor strain Paddington (Sour Tangie) just hit the shop
Order #51306- about 2 hours ago
That's roughly 2000 orders in the past 24 hrs. I suspect some multi-oil-bottle orders in that time frame with all the Indica oils selling out so quick.
Jane Philpott out as Health Minister and replaced by Ginette Petitpas Taylor today.
29 orders in 8 minutes between our orders
Order #50100- Just placed
They were not selling for 10 days because of the transition Tweed, Bedrocan and Mettrum to Tweed Mainstreet. That's 11% of the quarter where they were shut down. That's roughly $1.7M forgone revenue (I'm basing that off 1000 orders a day at $170 an order). Add in the days after that of working out the kinks of the new sales system. It was a one time transition.