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Citation Growth Corp. Announces Executive Management Changes and Postponement of AGM January 14, 2020 KELOWNA, BRITISH COLUMBIA – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) ("Citation" or the "Company"), a licensed cannabis cultivator and producer, announces today that Howard Misle has resigned as Chief Executive Officer and a Board Member effective January 13, 2020. The Board of Directors has already begun interviewing prospective CEO candidates and expects to make an announcement shortly. In the interim, Mr. Rahim Mohamed will be the interim CEO. The Company is also pleased to announce that it has appointed Mr. Kevin Cornish as its Chief Financial Officer effectively immediately.
Mr. Cornish has roots all over Eastern Canada, spending most of his life in Halifax Nova Scotia where he completed his education at Saint Mary's University. He has worked in the service, hospitality, construction and cannabis industries over the course of his career. His expertise is focused in leadership, performance management, company growth and finance. He has experience sitting on the boards of both not for profit and for profit companies, volunteered with child development groups and is an advocate for mental health. Mr. Cornish has helped start up and mature companies grow in current and new markets. In 2018 he joined the cannabis industry due to having seen many people he knows positively affected by THC and CBD. Taking part in Canada's history, Mr. Cornish was part of a Cannabis company that brought recreational Cannabis to Alberta and Canada. Mr. Cornish enjoys the many challenges that come with working in this industry leading up to legalization, post legalization and cannabis 2.0. With over 15 years of leadership experience in operations and finance, Mr. Cornish continues to grow along with this industry both personally and professionally.
Due to this change in management, the company has deemed it necessary to postpone its AGM scheduled for January 24, 2020 in Las Vegas Nevada to allow for an updated Management Information Circular to be filed and circulated to shareholders. Once a new date and location has been scheduled, management will issue out a News Release.
“We, the management and board, apologize for any inconvenience this may have caused any shareholders who may have already booked flights and hotels. We will be diligent and begin placing a new CEO as soon as possible” quoted Rahim Mohamed, President and Interim CEO. About Citation Growth Corp.
Citation Growth Corp. is a publicly traded company that has been investing in the medical and recreational cannabis space since 2014. Citation has rapidly expanded its operating portfolio to include cultivation, production, and dispensary locations in key North American state-legal jurisdictions and is seeking expansion opportunities worldwide.
Citation Growth Corp. Provides Corporate Update Including Further Focus on US Assets through Non- Core Disposition Raising $825,000.00 for Deployment into High Growth Nevada Assets
Notice the use of the phrase...NON-CORE. It is a business term, to differentiate between assets that are essential...and assets that are not essential to the operation of a business.
That is the key to understanding the property that was sold.
Since they recently mentioned...spending money to get the equipment installed into the Chase building(s).....that doesn't fall under the....NON-CORE...assets.
A bare piece of property....could be considered...a resource. A bare piece of property with no plans ever mentioned for it.....could be considered a NON-CORE asset
Buildings that are being equipped for operations....would be considered a CORE asset. Therefore I suspect...it could not be the Celista facilities....that were sold. I thought the bold headline made that pretty clear. We will see.
I hope I have helped understand....the news headline.
Citation Growth Corp. Provides Corporate Update Including Further Focus on US Assets through Non- Core Disposition Raising $825,000.00 for Deployment into High Growth Nevada Assets
KELOWNA, BRITISH COLUMBIA – January 7th, 2020 – Citation Growth Corp. (CSE: CGRO) (OTCQX: CGOTF) ("Citation" or the "Company"), a licensed cannabis cultivator and producer, is pleased to provide a corporate update.
US Focus in High Gear through Further Asset Rationalization
On December 23rd, 2019, Citation entered into an agreement to dispose of its Magna Bay asset for gross proceeds of $825,000. This asset disposition continues the strategy of Citation to further focus on its Nevada asset base where it is seeing stronger capital efficiency and return on invested capital. The sale of the assets will bring in $600,000.00 in cash at closing and an additional $225,000.00 to be paid later in 2020.
After the closing on December 23rd, 2019, the proceeds from the transaction were deployed into Citation’s 100% owned and operation Pahrump, Nevada cultivation facility and the 100% owned and operated North Las Vegas “APEX” extraction facility located in North Las Vegas.
Citation intends to continue to invest in its Nevada asset base and in 2020 will continue with its proposed expansion of its Pahrump facility. As previously announced, upon full build out, the Company’s Pahrump operations will have total output of 16,800 lbs / year across 50,000 sq ft of grow.
About Citation Growth Corp.
Citation Growth Corp. is a publicly traded company that has been investing in the medical and recreational cannabis space since 2014. Citation has rapidly expanded its operating portfolio to include cultivation, production, and dispensary locations in key North American state-legal jurisdictions and is seeking expansion opportunities worldwide.
For Further Information:
Rahim Mohamed, President RM@citationgrowth.com 1-877-438-5448 Extension 718
Paul Searle, Corporate Communications 1-877-438-5448 Extension 714 psearle@citationgrowth.com
More guesses...about lies...scamming...and defrauding...but...not..a big surprise.
MAGNA BAY RESOURCE SOLD on JANUARY 7th! Notice how they didn't specify the actual resource...but I suspect it was the facilities in Celista, which is in Magna Bay.
Notice...every time they have ever mentioned Celista...or Chase...they have specifically called out Celista or Chase. Never once have they referred the Celista facilities as....a Magna Bay resource....NEVER.
You can suspect all you want.....I have shown the proof.....I suspect you are wrong.
Further there are two buildings on the Celista property....that is why they are referred to as facilities....two buildings. A piece of vacant property...may be referred to as a resource.
More lies, scamming and defrauding, but not a big surprise!
Explain where the lies are.....I have my guess...but fill us in on the facts...if you got them...? Tell us about the proof you have of defrauding too...?
Learn the difference between a facility...and a resource.....as long as you are up early everyday.
A facility is NOT the same as a resource....but that is not a big surprise...to most of us.
Selling a resource...that we don't need....is a good thing.
Odd that you try to spin it as lies and defrauding...with zero proof of the claims...but not a big surprise.
Should be worth noting.....Selling an unused resource...puts the bankruptcy theory....FARTHER...from the truth.
Shares granted at $0 cost to insiders, which means MASSIVE dumping incoming.
News Flash....Shares Granted...at zero cost. That is what grant means....no cost.
That portion of your statement...doesn't make sense.
which means MASSIVE dumping incoming
This portion...doesn't make sense either.
Having trouble understanding how a grant....means massive dumping....incoming. All company execs from all companies...are...granted...stocks, options, warrants, bonuses etc. that does not cause massive dumping.
Are you really sure...you are using....massive dumping ...correctly...?
CGOTF...INSIDER....STILL BUYING....LARGEST ORDER YET.
For those not paying attention...or choosing to ignore insider buying....it is still going on. Not only is insider buying ongoing....it appears to be increasing. The first buy in 2020 was 1/3/20...for 90,000 shares. That is much larger than the 25,000 or 50,000 share orders from December.
Alnoor Nathoo seems to be adamant about acquiring more shares.
The message I get from that is...What bankruptcy....we're going up.
Starting with 387,000 shares in December....he has steadily increased his position to 765,000 shares. That is about double his position.
That really...kills the bankruptcy theory....with proof...16 times the proof said...the bankruptcy theory....has no merit....and more shares were bought.
Whatever Alnoor knows about the company....causes him to invest more.
I believe the equipment needs to be installed and functioning.
A conditional license is issued when they are ready to begin a trial crop to show Health Canada they are capable of producing cannabis to all Health Canada requirements. If they pass they would get a permanent license from HC.
They recently mentioned money for Canada...it is my assumption...the money was being used to get equipment installed....into the lock up stage buildings....thereby being ready for a conditional license...to begin initial cultivation.
Rahim turned this company around. With funding to get Canadian operations up and running....it is my guess he will be successful...in Canada....after all....he pulled it off in Vegas.
Hopefully there will be good news at the meeting....about the Canadian operation in Celista.
Izbizz said there would be a dead cat bounce...you say no dead cat bounce..?. Who are we supposed to believe....?
Where did you get this info...?
unless insiders are willing to risk paying out of pocket for stock promotion.
Could you explain.....with the factual numbers. I'm a little confused how you arrived at that conclusion. How much were they planning on spending for stock promotion....? You need to know those numbers in order to make a believable statement. Since you have no inside knowledge of the numbers for stock promotion....makes that kind of hard to believe. But if you pay attention to the numbers....you would see....spending for stock promotion....has went down considerably.....discrediting your statement further.
Facts show heavy insider buying...ongoing through December. When was the last time we saw that...? The reason I bring this up is.....the FACTS are posted to SEDAR....to back up my statements.
BCSC investigation is coming to an end, so their window of opportunity is getting smaller.
Good....maybe they will have time to investigate the stock manipulation here.
Please tell us.....how you are getting inside information from the BCSC...? Otherwise, there is NO way of you knowing the inner workings of the BCSC investigation.....or when it will be over.
Expect news of criminal indictments and then bankruptcy soon.
Who do you know in the BCSC....that would tell you that.....? That would be considered......leaking information about an going investigation.
About that bankruptcy.....you never did post all the debt.....that YOU think is due in January....?
You never posted the December debt...that would cause bankruptcy.....before the end of the year...either. LMAO.....It didn't happen.
You never posted the revenues vs debt for January either.....all of which must be known....to pretend to calculate a bankruptcy.
There is no bankruptcy in January....but the company did announce the AGM...and facilities tour.....and posted to SEDAR.
That will be followed by record earnings for the end of January Q.....none of which....have anything to do with bankruptcy.
Enjoy the ride to $0 folks!
Please stop with the personal attacks and wishing bad on the longs.
The tour of the two 5,000 sf facilities in Vegas and the 26,500 sf facility in Pahrump...is impressive. And the smell....ooh, ooh that smell....the smell that's around you.
We should be hearing from the Ranger's visit soon.
Don't be swayed by scary words...and lack of proof.
Remember...We (shareholders) are invited to go to Las Vegas Nevada.....for our AGM and facilities tour...not for bankruptcy...duh. Companies never invite shareholders to bankruptcy affairs.
It is my guess the company must have some good news to tell the shareholders. They are having it in Vegas this year...which is easy access for all US. shareholders. They are inviting Citation Growth shareholders to tour the top shelf...award winning cannabis cultivation and processing facilities.
Now that Citation has won the Las Vegas...High Times Cannabis Cup...for Best Hybrid Flower...more dispensaries will want to carry the Vegas Cannabis Cup Winners.
We have far more revenue coming in the next Q. Remember...there was only two months of ACC revenue in the last Q. There was no extraction and concentrate revenue last Q either. More record revenues coming.
For those who claim organic cannabis doesn't matter...that is WRONG. Organic cannabis wholesales much higher than regular bud....because it is a higher grade...just like organic food. Plus you don't have to smoke all the fertilizers...pesticides...fungicides and other chemicals regular cultivators apply to the cannabis for more yield.
If organic was easy...everyone would do it. Those that don't cultivate organically....are mixed amongst the rest of the crowd trying to differentiate their ditch weed from the next companies ditch weed. Medical or recreational cannabis should never be cultivated with all those chemicals...with the intent of patients smoking them. The vaping crisis should be a real eye opener...on what happens when people smoke chemicals.
Triple Certified Organic cannabis...the cleanest high grade cannabis out there....Only Citation Growth has it.
The largest cannabis license footprint in....limited license....Nevada.
In my state....a lawsuit was filed within hours....of the state announcing the cultivation license winners. Every state is already fighting over licenses.
Know what you own. Big money will know where to find top shelf cannabis and lots of licenses to grow with....in Nevada.
The entire cannabis industry has been getting shaken up. When the dust settles and the industry turns back around again....here sits Citation...with the best organic...and award winning cannabis in the state...and a giant pile of licenses.
Know what you own....and that Alnoor Nathoo...has been accumulating shares heavily.....the entire month of December...for a reason...and it ain't bankruptcy....duh. And....there is documentation...to prove it...on SEDAR.
Citation Growth Corp. invites you to join us in Las Vegas on January 23rd and 24th, 2020.
Tour our facilities in Las Vegas and Pahrump on January 23rd, 2020 from 9:00 AM – 1:00 PM. We will provide transportation and special clothing for each location. You must RSVP to be included. Further details will be provided shortly.
Our Annual General and Special Meeting will be held on January 24th, 2020 at 9:00 AM at The Mirage – meeting room name to be confirmed.
Guestroom block at The Mirage Hotel – Resort King rooms: January 23 - $189.00*
January 24 - $139.00* January 25 - $149.00* *plus applicable taxes and daily resort fee. You are required to book your own accommodations.
Please RSVP by January 3rd to reception@citationgrowth.com if you are joining the Facility Tours and the AGM.
We look forward to seeing you in Las Vegas in January!
CITATION GROWTH CORP.
Suite 102, 1561 Sutherland Avenue, Kelowna, BC V1Y 5Y7 Email: reception@citationgrowth.com Tel: 778-583-4476
Something about #%+%#'s bankruptcy claims....doesn't seem to scare the insiders. Alnoor Nathoo....just keeps on buying.
15 times this month...Alnoor decided that buying shares of Citation...was a good move.
Every time #%+%# mentions bankruptcy...Alnoor must laugh...and buy more shares.
Insiders know.....and accumulate accordingly.
#%+%#......wishes he knew...and makes unproven claims....or tries to rehash old news into drama...like a drama queen might do.
Meanwhile Alnoor just keeps buying up the cheap shares...because...manipulators have run the stock down.
Gotta wonder why #%+%# would help insiders get cheaper shares....he must be proud of himself.
Seems odd that someone would bash the stock to help insiders get cheap shares...and not buy any for themselves....after hanging around all this time.
It has been pointed out all month that insiders are buying shares...and yet #%+%# keeps bashing the shares and making them cheaper for insiders to buy......hmmmm.....then complains about insiders buying cheap shares....hmmm.?
So while some continue bashing the company with unproven claims....Alnoor....keeps loading up on cheap CGOTF shares....with the help of the bashers.
I want some too.
GLTA
GET CITATION...BEFORE THE PARTY....ALNOOR NATHOO IS.
They fooled you again. Oops...they must have accidentally built a triple certified organic cannabis company with the largest license footprint in Nevada....and accidentally won a High Times Cannabis Cup....all while trying to....not build a company.....and go bankrupt....before the end of the year....LMAO.
WRONG AGAIN.
As a way to get rich...off unsuspecting investors.
Winning High Times....Best Hybrid Flower....WAS A BRILLIANT PR.
They don't do anything accept come up with ideas for PR's.
That shows a lack of facts on your part.
You got to admit....Winning the High Times Cannabis Cup in Vegas....for BEST HYBRID FLOWER..... was a great idea for a PR stunt. How do they do this? Now we are going to get world wide international exposure.
Oh yea...they actually cultivated 36,500 sf of cannabis too....while you complain about the company.
Your ignorance....of what is required to build and operate a cannabis company in Nevada.....is NO REFLECTION ON THEIR EFFORTS. They have awards and certifications....for theirs....what do you got?
Zero for zero....on your bankruptcy predictions. Gotta wonder what you do all day? Come up with ideas for bankruptcies that have never happened....all day?
Haven't you been paying attention to the pictures Believe444 has been posting...? Triple certified organic cannabis doesn't...grow itself. MORE PICS.....BELIEVE444
I wonder what they do all day at the CGOTF offices? Anyone work there? What the heck do they do?
That is just an amazingly ignorant thing to say.
Do you have any idea...how much effort goes into cultivating, harvesting, drying/curing trimming, testing, packaging, marketing and delivering to 37 different dispensaries....36,500 sf of cannabis...? Winning High Times Cannabis Cup...as if being triple certified organic wasn't high enough standards.
CITATION GROWTH...FACILITIES TOUR....AND ANNUAL GENERAL MEETING...VEGAS.
Citation Growth Corp. invites you to join us in Las Vegas on January 23rd and 24th, 2020. Tour our facilities in Las Vegas and Pahrump on January 23rd, 2020 from 9:00 AM – 1:00 PM. We will provide transportation and special clothing for each location. You must RSVP to be included. Further details will be provided shortly.
Our Annual General and Special Meeting will be held on January 24th, 2020 at 9:00 AM at The Mirage – meeting room name to be confirmed.
Guestroom block at The Mirage Hotel – Resort King rooms:
January 23 - $189.00* January 24 - $139.00* January 25 - $149.00*
*plus applicable taxes and daily resort fee. You are required to book your own accommodations.
Please RSVP by January 3rd to reception@citationgrowth.com if you are joining the Facility Tours and the AGM.
We look forward to seeing you in Las Vegas in January!
CITATION GROWTH CORP.
Suite 102, 1561 Sutherland Avenue, Kelowna, BC V1Y 5Y7 Email: reception@citationgrowth.com Tel: 778-583-4476
You have real news...or just unable to move your turd...?
How are you supposedly getting news before the company...?
What company...that was connected...? Sounds a little shady...when you don't use facts and names and links and proof...?
NO BANKRUPTCY IMMINENT.
You have failed...providing any proof for that either.
Proof would consist of numbers...valid numbers...actually due in January...vs....revenues. Your figures...never include revenue....oddly enough.
You can't begin to produce bankruptcy numbers without revenues...FYI.
The increasing revenues...the record revenues....yea...those.
Now when did you say the death spiral would begin...?
First...you claimed it would be this fall....wrong again....it's winter.
Noticed Citation won awards....but...nothing about a death spiral.
None of your other bankruptcies have ever happened.
My guess....Alnoor will ignore the stupid bankruptcy predictions....AND BUY MORE SHARES...LIKE HE HAS EVERY TIME SOMEONE MAKES A STUPID BANKRUPTCY CLAIM.
ITS LIKE CLOCKWORK.....ALNOOR MAKES A MOCKERY OF THE BANKRUPTCY CLAIMS....AND BUYS MORE CGOTF SHARES....LMAO.
I find it very odd....that someone would be up at 4:00 am....daily....to begin warning the board...(again)...about...imminent bankruptcy....about a stock they have no interest in....LMAO.
Like who in their right mind...would get up early...to be the...town crier...for a stock that supposedly only has 6 followers...??? Something about this story don't add up...?
You can tell....by looking.....if it was options....it would say OPTIONS. Since it says COMMON SHARES....who are you trying to fool?
Not granted.....but....acquired on the public market. (Note...acquire....means...buy.)
Alnoor was not granted stocks....it would say GRANTED....but it didn't......it said acquired.
What SEDI filings do tell us.....Alnoor has acquired shares 12 times now this month. Smart investors....see this as a BUY sign. You can try and twist this into a bankruptcy....but nobodies buying that story.
Please do not tell people....Alnoor was granted options......that IS NOT TRUE.......SEDI DONT LIE.
I need another pile of shares too........just keep piling them on. Added more recently.
We haven't even seen a full Q of revenue yet. We haven't got a Q of revenue including the concentrates yet either. This is just the start. Fully realized revenues is when our higher margins will show the difference between top of the line organic cannabis margins....and ditch weed margins.
I've seen more people lose everything averaging down. It's a great way to go bankrupt yourself.”
Maybe it's a lie...maybe it's a sham...maybe it's stupidity...who knows....IT AINT TRUE.
Could you explain to us....how someone would go bankrupt....if they lost investment money...?
That makes no sense whatsoever. Investment money...is money that people have...extra...for investing. There is NO way losing investment money causes bankruptcy......unless you are shorting...and get burned....for more...than you have invested.
Maybe if you learned a little about bankruptcy....your chances of actually predicting one....might get better. So far...you have NEVER...predicted a bankruptcy.
Once again...you are intentionally misleading readers.
Management did NOT increase their wages by 600%.
Learn to read the financials...before posting false and misleading information.
The FACTS....can be found in the most recent MD&A....posted on SEDAR.
Consulting fees...$2130.(2018)...$521.(2019) This is a decrease of ....$1609.
This shows consulting fees went down...by a very large amount...showing much less reliance on consulting.
Management fees and wages....$68.(2018).....$427.(2019). This is an increase of......$359
Management fees increased due to going from two directors...to four...as explained in the notes in the MD&A. That in no way means they are getting 600% raises. That is false and misleading.
If you would pay attention to the General and Admnistratve Expenses.....you can see they have actually went down form the 2018 to 2019 time period. FACTS again show......$2868.(2018).....now reduced to....$1585 (2019). This shows the company is cutting costs....not raising them by 600%.
This shows....Consulting fees went down by far more....$1609.....than management fees and wages...went up. $359. Why would anyone complain....the net difference is lower....NOT 600% higher. Management did the right thing....and lowered their costs.....and you try to sham people into thinking management is breaking the bank.
These are the FACTS....NOT YOUR DISTORTED MISLEADING....."interpretation"....of the facts.
So....in summary....
Management reduced Consulting fees by several hundred percent....from 2018.
Management did NOT give themselves a 600% wage increase....they added two...making four.
Management cut General and Administrative Expenses.....in half...from $2868 down to $1585.
RENO — A Sparks marijuana testing lab has been fined $70,000 for engaging in “unsound testing practices” that led to it producing inaccurate THC results, the Department of Taxation announced Thursday.
Certified Ag Labs, based in Sparks, also received a 30-day suspension that is retroactive to Nov. 18, the date that it had its state-issued license suspended. The lab also will have to provide a “plan of correction” to address the deficiencies identified by the state’s investigation before the state will allow it to test for THC potency again.
This was the second time that the state has suspended Certified Ag Labs’ license in two years. In December 2017, the lab had its license temporarily suspended for what managing member Randy Gardner said at the time involved state auditors disagreeing with how the lab conducted follow-up tests. In that case, the lab had its license reinstated after roughly one week.
The latest violation is considered a category II infraction, which includes unintentionally making false statements to the department. A marijuana license can be revoked by the state if a business has three Category II violations within a two-year period.
Certified Ag was the first, and so far only, lab in Nevada to be disciplined since state officials announced that they were investigating cannabis labs to see how products with exceedingly high levels of mold and yeast made it to store shelves for sale as well as allegations of THC manipulation.
Labs are supposed to test products to make sure the listed THC results are accurate and to ensure that the cannabis is free of dangerous microbials like yeast, mold, pesticides, heavy metals and other toxins before being sold in dispensaries.
Earlier this month, state data analyzed by a Washington-based scientist showed that some of the state’s testing facilities produced significantly higher THC results and failed far fewer products than others. In one case, a lab recorded zero product failures in 14 of 17 months analyzed. The state said that data “seemed to confirm that some marijuana testing facilities in Nevada were intentionally manipulating testing results.”
Contact Capital Bureau Chief Colton Lochhead at clochhead@reviewjournal.com or 775-461-3820. Follow @ColtonLochhead on Twitter.
Anyone notice......every time...#%*&@...posts about bankruptcy....Alnoor buys more shares...?
I can't think of a better way to rub someone's nose in their bullsh*t....than....executives having inside knowledge....and buying more shares....when idiots make unfounded bankruptcy claims.
Who you going to believe...execs with knowledge of the future of Citation Growth....or a perpetual bankruptcy predicter...on many penny stocks...with a ZERO% accuracy record.....???
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