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shareholder newsletter just been changed? Looks like they posted the wrong one first...now different:
https://www.mmexresources.com/pdf/MMEX_Sept_Shareholder_Letter.pdf
1
MMEX Resources Corporation
Shareholder Update
September
Phasing of Our Project
-
Crude by Truck
Status
of
CDU Phase 1
(b) CDU
Project
Financing
.
We have agreedwith our Lender to extend our term sheet to November
15, 2018
Buy
-
Back of Convertible Debt.
Reverse Split of Shares.
.0018 coming up from the bottom...it is way oversold
I think it says the opposite...they REPURCHASED a potential convertible loan. It will not convert now which suggests to me they have financing and do not see the reason to not pay it off.
always buy when way oversold...
..."on September 14, 2018 as announced in our 8K filed today, we repurchased one of our convertible debt notes as the initial step to purchasing potentially other convertible debt notes. Both of these programs will simplify our capital structure, allow us to list on stock exchange platforms with higher stock price listing requirements, greater transparency, and governance leading , we believe , potentially to better opportunities to complete financing for our project development."
This is good news
well, according to L2, people will sell some shaes and then realize it was not necessary when they realize the RS is not going to happen for weeks. All the talk was to scare out traders to loosen up shares today...
"Do you feel lucky?"
well, not a month but maybe 20 days as the last filing stated. I would not lose sight of the fact that financing is pretty much assured.
We do all know there will not be a reverse split today, right? It was an announcement of intention, not RS today
The Permien Basin is the place for oil production in the US now. The US has become the major top exporter of oil now. Oil is backing up in West Texas because not enough pipelines to carry it away. The largest refinery in the US was sold to the Saudis last year...they expect to refine their own oil they produce after shipping it to Texas. You wonder what is different now than 40 years ago?
no, not really...it is part of the information one needs...just being factual
originally, in one last newsletter, he suggest financing announcement would be at the end of September and first money distribution would be in October
MMEX Resources Corporation Shareholder Update
August 10, 2018
Dear Shareholders,
This is to update you since our last Shareholder Letter on July 9th, 2018by answering the following shareholder questions
.
Please keep in mind that the answers represent
management’s current opinion and estimates, as to which there can be no assurance.
1.
On a scale of 1 to 10, with 10 being extremely confident, how confident are you that we will obtain financing?
We give it a 9.
2.
Are you confident that financing for (phase 1b) will happen by September 15th?
Our term sheet with the lender has been extended to September 15th.
Absent unforeseen circumstances, we believe that we will start the final documentation process during September and anticipate the financial closing, i.e.,disbursement of funds,in October 2018.
3.
Do you have a set date for finance closing (Phase 1b) and if so, are you able to share the date?
You may mean Phase 1(a),the Receipt Storage Dispatch Phase. We anticipate that we can close that financing part by the end of September
I would suggest we reread the 8K and the other filing, made at the same time. Big investors would rather invest in a OTCQB listed stock than a plain OTC. Last shareholder newsletter stated foreign investment firm did not want their name known at that time because of a NDA greement. I suggested here months agto that the currency fluctuation in the dollar vrs. other currencies was the cause of the delay. You can invest less of your money if your currency is stronger, when you do "write checks", to the dollar, if the dollar is weaker than it was last summer. The dollar has gotten weaker than it was this summer.
https://www.bloomberg.com/news/articles/2018-09-13/strong-dollar-spell-breaking-for-those-with-the-most-at-stake
The dollar fell after U.S. inflation unexpectedly cooled in August, poised to post its biggest weekly loss since February.
"Take BlueBay Asset Management LLP in London. The $60 billion money manager snapped up currency options back in May to insulate local-currency developing-nation bonds from a sudden rebound in the dollar. In recent weeks, however, the firm has eased up on bullish greenback positions as the currency’s strength shows signs of teetering -- even as it stays cautious on emerging markets."
So now, maybe the financier sees the dollar "tetering" and going to drop against their currency...just a suggestion as to what is happening, because, like building a house, MMEX probably gets the money as they need it as material construction proceeds, not all at once.
expectation of refinery financing has been discussed for some time...read last shareholder newsletter from CEO...nearing announcement
One of the things I like about ACBFF is that ACBFF owns 20% of the stock in CANN. By owning ACBFF, I also have exposure to CANN which is a good company also. I only need to own ACBFF and still get to benefit.
What is the bug deal here? Of course he has to contract with one of these types of companies to get things built. To me, that would be obvious. Odessa location would be a wise choice.
Probably did not concern FTWS at the time, since the symbol changed 2 years ago. CATQ probably had had a RS near that time also
Action Effective Date Symbol Description
Symbol Change 11/10/2016 FTWS Symbol change from CATQ to FTWS
.0022 again..102.3 million shares have traded this morning in heavy volume which is much more than its 10 day daily average. Nope,buying has not stopped. This stock just went through a normal trading morning. It also experienced a normal pullback, as expected in the normal course of trading, and is going up from here. There will be some small profit taking going on for maybe the next hour, from what I can see, but FTWS has reversed any downward movement today.
I would suggest you make your own decisions on that, as I would never make a decision on trading stocks by what the "consensus" is. IHUB does not represent all traders and holders of ACBFF. I would never make a decision on buying or selling any stock on any forum opinions unless I could do the due diligence for myself and see if the opinions were true or not. ACBFF is an international company, not a penny stock.
no, never heard of anyone spreading them selves too thin. I can say some companies do try to expand too fast, but too get a Canadian bank behind them as ACBFF has done does not make me think they are spreading themselves to thin. I do not feel I have to clarify my position fpr anyone, as it is my opinion with my money. I would suggest a Canadian bank is not going to loan them millions, as they announced today, and increase their line of credit if they thought ACBFF was spreading themselves too thin.
This is an agreement that is not dillutive...how is that for starters?
What is done is already done. Just like any good business who wants to grow as fast as they can, they are going to make deals to make acquisitions when they want to be a world class company in more than one location and in more than one country. That is why thwey are a public company...access to capital. ACBFF is doing just that. I certainly do not expect ACBFF price to double this week or even soon. They are building a business...a large one. I do not day trade ACBFF, and I can assure you that it is not wise to only hold one MJ stock in one's portfolio. ACBFF is not a day trading kind of stock. The day to day movements hardly bother me, because I really am in ACBFF for the long haul...not just for a few days. If I wanted to day trade an MJ stock for gain, it would certainly not be ACBFF.
I suggested earlier to go back and look at the mid summer presentation ACBFF put online. It detailed all of what they planned to do. If you would review it by rewatching it, or seeing it for the first time, you may know what is to come.
Aurora Cannabis Closes $200 Million Debt Facility with BMO
Canada NewsWire
EDMONTON, Sept. 4, 2018
Historic Financing with a Canadian Tier 1 Bank Provides Additional Capital to Drive Growth
EDMONTON, Sept. 4, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that it has closed its previously announced debt facility with the Bank of Montreal ("BMO"). The facility consists of a $150 million term loan and a $50 million revolving credit facility (together, the "Loans"), both of which mature in 2021. Included in the facility is an option to upsize the facility to $250 million total following the implementation of Bill C-45 on October 17, 2018, subject to agreement by BMO and satisfaction of certain legal and business conditions.
The debt facility is primarily secured by Aurora's production facilities, including Aurora Sky, Aurora Mountain, and Aurora Vie. Strategically located at Edmonton International Airport, Aurora Sky is the world's most technologically advanced cannabis facility, projected to produce in excess of 100,000 kg per year of high-quality, low-cost per gram, cannabis upon completion.
Glen Ibbott, CFO of Aurora, added, "The closing conditions of this debt facility included stringent due diligence of Aurora's current production facilities as well as a thorough review of Aurora's projected revenue growth across all of our divisions. With our extremely strong balance sheet, Aurora is well positioned to execute on our business strategy, including accelerated development and launch of new products, continued rapid expansion of our domestic and international operations, and entry into new global markets."
Pursuant to the agreed upon conditions of the Loans, Aurora may, at its discretion, repay the balance of the Loans without penalty, at any time. The pricing of the Loans is a set margin over the BMO CAD Prime Rate or a Bankers' Acceptance of appropriate term. Based on the current BMO CAD Prime Rate, the interest payable is expected to be in the mid to high 4% per annum range over the term of the Loans. Additional details on this new sector benchmark debt facility can be found in the Company's documents that have been filed on www.sedar.com.
Management Commentary
"We are incredibly proud to have successfully closed this historic debt facility supported by a premier Canadian bank, BMO, who understands our needs and potential. This is both a reflection of the rapidly maturing nature of the broader cannabis industry and strong validation of the economic potential of Aurora's best-in-class, technologically advanced production facilities," said Terry Booth, CEO of Aurora. "With BMO and the syndicate lenders, Aurora gains significant runway to expansion opportunities that will positively contribute to our long-term margin profile and provide accelerated entry into multiple international markets. This additional capital positions us well to continue building the pre-eminent global cannabis company with a focus on vertically integrated, geographically and horizontally diversified assets."
I would suggest all traders go search for the last conference call presentation that ACBFF put on this summer. They stated clearly to me what they were going to do and how they were going to do. I stand to hold ACBFF for a long time and expect to add to my position.
Just my opinion, but I see ACBFF really putting in the effort to end up being one of the larger successful world class MJ companies. They certainly will end up being listed on the NYSE, imo.Today's news was great, because it will be used to expand and complete the airport location. I am not trading ACBFF, as I am seriously holding my position and expect it to continue making up and down moves a while...mainly up soon
Really good that the new news today is about money @ approximately a 4% interest, not convertibles, and can be paid off at any time without penalty
I have a brother that owned a company like this years back in Utah. He went public on the stock market as Accutest Systems, but lost control when the board did not understand how Texas oil men think. This was during that oil deregulation period, and he had millions in contracts lined up for just pipe checking in Thailand. There is a lot of money to be made with a company like this, because all drillers want more rigs but can't afford to pay top dollar for brand new ones. Now we see, just in Texas, the shale revolution is not dead but growing and methods of recovery are improving as well as production. There is lots of room for more rigs on the market right now. There is more oil under the Permien Basin in West Texas than is under Saudi Arabia.
"The Company predicts that the base case scenario of the cumulative transactions will total $125mm with a net profit of $63.4mm before financing cost."
Did I just read this week of their making an acquisition whereby they end up with a number of rigs to sell and expect to clear something like $62 million dollars on the purchase of these rigs?
My thought also...just what did they think was acceptable?
I agree, because the way I read it, IF there is a good offer that is acceptable, it would not be closed until August 31st (with court approval). Just like when you buy land, you do not tell anyone you are buying it until the agreement to buy is closed, so I would not expect an announcement until it is closed
Good point:
no mistyping in this 8K filed on OTC page
Item 8.01. Other Events
An unauthorized news release making statements about Life Clips was released by an unknown party on August 9, 2018. Life Clips did not authorize the news release and disclaims any statements made in the news release. The Company learned of the release on August 15, 2018 based upon an inquiry from a shareholder.
The news release was distributed through a news release distribution service that has since removed it from their site. It does not appear that the news release was widely disseminated or picked up by search engines or other news distributors.
This 8K just showed up on the OTC page
Is LCLP CURRENT or not on OTC? Who runs OTC?
https://www.otcmarkets.com/stock/LCLP/disclosure
looks to me like it has leveled out at .0007/.0008, not lower at all...just stayed at .0008
where is this article?...or was it the confusion caused by the three filings on the S1 yesterday on OTC?
Float showing on OTC page is from 2015 though, so may be higher than posted on OTC page, right?
I like what I see in EPSC!!! this looks seriously good to me!
you can add in another 389,731 of mine Deagle
good trading...sometimes we just have to take a new position at a higher price than we sold. I had to do exactly that also. I have a new position
Aurora Cannabis Inc. (ACB - TSX)
Canada NewsWire
EDMONTON, Aug. 13, 2018
MedReleaf Markham Facility now Fully EU GMP Certified
TSX: ACB
EDMONTON, Aug. 13, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to provide the following update on its international operations.
EUROPE
Denmark
The Company has successfully shipped cultivars from its Mountain facility to Denmark to commence populating the Phase I Aurora Nordic facility, a 100,000 square foot, retrofitted hybrid greenhouse, which will be ramping up to full production capacity of 8,000 kg per year of medical cannabis over the coming months. Aurora Nordic is a 51%-Aurora owned subsidiary owned in partnership with Alfred Pederson & Son. Both the Phase I facility and Phase II, a 1,000,000 square foot, hybrid greenhouse facility with a cultivation capacity of more than 120,000 KG per year, have been designed by Aurora Larssen Projects Ltd. ("ALPS"), and will be completed to EU GMP standards, incorporating leading edge technologies.
EU GMP
Following a provisional EU GMP certification of a single shipment, as announced on July 11, 2018, Aurora's new wholly-owned subsidiary, MedReleaf Corp., has now received full EU GMP (Good Manufacturing Practices) certification for its Markham facility.
In total globally, there are currently only 6 EU GMP certified cannabis production facilities, two of which are based in Canada and belong to Aurora. Through Pedanios, Aurora also owns an EU GMP certified distribution center for medical cannabis based in Germany. The new certification will increase product availability for the rapidly growing, higher-margin and heavily regulated EU market. All of the Company's facilities are being designed and built to EU GMP standards.
EU Operations
The Company is focused on introducing the Aurora Standard to new, emerging international markets, including the establishment of local production facilities, initiating new distribution channels, expanding access to genetics, technologies and product formulations, as well as providing governments, patients and physicians with science-based data and educational tools and resources. The Company has established a strong position as the partner of choice in the various jurisdictions it operates in, enabling it to enter into collaborations with leading local partners, who themselves have deep track records as trusted and exceptional business operators.
Reflecting the growth of this international constellation of partnerships in Europe and the importance of the European market for Aurora, the Company has established a pan-European company, Aurora Europe GmbH, headquartered in Berlin, Germany. Furthermore, the Company has incorporated a number of local subsidiaries, an important step towards becoming part of the cannabis infrastructure in each of these countries. Pedanios GmbH, Europe's largest distributor of cannabis, will henceforth operate as Aurora Deutschland GmbH, while the Company has also formed Aurora Italia, Aurora Nordic (Denmark), as well as a number of other, local companies. Aurora currently employs over 70 people in Europe and anticipates this number to grow substantially over the coming months as the Company expands its business activities across the European continent.
Germany
The German government recently announced it is restarting the tender process towards selecting a number of Companies for domestic cultivation. Aurora was in the final round of the original tender process, and intends to participate in the restarted process. This is part of the Company's strategy to establish a strong and highly recognizable presence in key European markets. Aurora anticipates the tender process to be completed in 2019, in the meantime Aurora will continue to ship product to Germany from its EU GMP certified facilities in Canada. The original tender process was discontinued following a court decision to grant certain stakeholders more time to complete submissions. Aurora were on time in its submissions and were not a part of the court proceedings.
Earlier this month, MedReleaf announced it had commenced shipping product to a German distribution partner. Through MedReleaf, the Company believes it will be able to increase product availability to the European market, increasing brand recognition and generating further growth.
CanvasRx - Malta
The Company recently hosted a highly successful medical information session, organized in collaboration with the Company's local partner, Cherubino Ltd., where CanvasRx provided information on the therapeutic utility of cannabis-based therapies to a large group of Maltese physicians, along with other members of the medical community. The event showed the level of interest in, and need for science-based information on cannabinoid therapies, and reflected Aurora's leadership in medical educational activities.
AUSTRALIA
Aurora owns 22.9% of Australia's first licensed cannabis company, Cann Group Limited ("Cann"). Now 12 months since its IPO, in which Aurora participated as cornerstone investor, Cann's share price has increased by approximately 900%, while the company has significantly expanded its capabilities and resources.
Cann, which has selected Aurora Larssen Projects ("ALPS") as its project consultancy for a high-technology, high efficiency production, GMP compliant facility, has secured a lease with Australia Pacific Airports for a five-hectare (12.4 acres) site which is part of the Melbourne Airport precinct. Project preparations, including environmental and regulatory approvals continue to progress well.
Genetics were successfully shipped in the form of plantlets from Aurora's Mountain facility and from plant tissue culture (PTC) from Anandia Laboratories Inc ("Anandia"), a wholly-owned subsidiary of Aurora. PTC is a form of plant propagation that has scale, consistency and space advantages over traditional clone-based propagation. The imported tissue culture, once released from quarantine to Cann, will allow Cann to establish a bank of various genetics and foster a plant breeding program. The successful international transport from Canada to Australia of PTC is an important validation in the development of this technology.
CanniMed is now integrated into Aurora's international sales and distribution channels and continues to develop distribution channels. In Australia, the Company has developed relationships with multiple companies, and is shipping cannabis oil products, both for wholesale and for clinical trials. These shipments are expected to show continued growth in line with market demand.
SOUTH AFRICA
South Africa, with a population of approximately 57 million, recently approved the home use of Cannabis following a constitutional legal challenge, and is expected to implement broader legislation to legalize medical and adult consumer use. The Company, through its wholly-owned subsidiary CanniMed, had signed an agreement with Akula Trading Pty Ltd to supply product for the South African market. Aurora has been working with Akula in preparation for the commencement of legalized sales in South Africa, which are anticipated for 2019.
LATIN AMERICA
Aurora's wholly-owned subsidiary MedReleaf, as announced on July 24, 2018, acquired MED-Colombia, a company with licenses in Colombia for the cultivation of cannabis and the production of cannabis oil extracts. Through this acquisition, Aurora and MedReleaf gain an extensive library of cannabis genetics which Aurora anticipates will resonate well with the market. Diversification of cultivars is considered of great importance for the various markets Aurora services around the world, including the Canadian adult consumer use market. The acquisition also provides Aurora with the ability to develop additional, low-cost production capacity in Latin America from which the Company can potentially service a number of export markets, in addition to the domestic Colombian market.
About Aurora
Headquartered in Edmonton, Alberta, with funded capacity in excess of 570,000 kg per year and sales and operations in 14 countries across five continents, Aurora is one of the world's largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution. Aurora's science division, with the recent additions of CanniMed, MedReleaf and Anandia Labs, is arguably the largest and most experienced group of scientists on the planet focused on the cannabis plant, its production and its applications.
Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high quality product at ultra-low costs. Intended to be replicable and scalable globally, these production facilities are designed to produce cannabis of significant scale, with high quality, industry-leading yields, and ultra-low per gram production costs. Each of Aurora's facilities is built to meet European Union (EU) GMP standards, and both its first production facility and its wholly owned European medical cannabis distributor Pedanios have achieved this level of certification.
In addition to the Company's rapid organic growth and strong execution on strategic M&A, which to date includes ten companies acquired – CanvasRx, Peloton Pharmaceutical, Pedanios, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen, CanniMed Therapeutics, Anandia Labs and MedReleaf - Aurora is distinguished by its reputation as a partner of choice and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: The Green Organic Dutchman Holdings Ltd. (TSX: TGOD), Radient Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Namaste Technologies Inc. (TSXV: N), Evio Beauty Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTCC: CTTH), and Alcanna Inc. (TSX: CLIQ).