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Erica Adamsaka once said that they had suitors while back so I'm sure there are quick buyout options. Who knows the potential value of their biosynthesis process, or if they have one at all, I'd say they do not want to sell out too early as of now they are or have costed their process so licensing deals can be properly valued.
https://www.visualcapitalist.com/the-potential-of-minor-cannabinoids/
Diaz bless
WOLF TICKETS 2020
https://investors.inmedpharma.com/
March 2020 updated presentation
minor cannabiboids CBN and CBG are both antibacterial they will take out the corona
Diaz bless
Very similar to a movie I seen once called Field of Dreams, i believe it was a young Nicolas cage said if u build it he will come, well very strangely if you pump it he will come and it will come from Blacher out in right field or.maybe ole Billy garner playing short stop, possibly a Mancini relief /save coming outta bullpen??
Diaz bless
WOLF TICKETS 2020
32nd Annual Roth Conference March 15 thru 17. Inmed will put ona dominating performance en route to likely a submission win. Easy bonus money is what Adam's n Garner are thinking.
https://www.roth.com/Page/Corporate-Access-Conferences
Study 755 we hand out the cream, double blind, phase 1 study, vehicle controlled
Diaz bless
Isaac at home playing super spike volleyball with his boyyyyyssss
WOLF TICKETS 2020
they are selling you wolf tickets people now is the time to buy.
FDR was telling the American people that their fear was making things worse. He goes on to say, nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. By running to the banks and taking their money out they were causing more damage to the economy. Closing banks for several days and calling Congress back to Washington for a special session gave the American people and government time to calm down and make recovery plans.
Bill garner told. Us see u at .19
He told us the panic sellers were comingg and.now they r upon us as epidemic is rising now is the time to get in or watch the politicians get in for cheap and u can sit on the county boundaries wondering how to get in
http://tn4me.org/sapage.cfm/sa_id/70/era_id/7/major_id/8/minor_id/17/a_id/69
Diaz bless
With the DOW and the NAsdaQ crumbling along with crude oil landsliding look for MSRT to run in a big way after or around this extra day we have this leap year, last chance to get in I looked over the latest filings and it looks as if we are pre paid in shares to our suppliers nin of CBD oil so I believe isaac been renovating his property and gonna be doun The joint rolling, cartridge assembly and making the charcoal face masks made from CBD in his lab coat at home.
WOLF TICKETS 2020
InMed doing conferences behind the scenes, Bill Garner and Eric Adams teamed up for performance a the night award I read..hell of a show I guess it was back and forth with neither man wanted to givean inch.
https://www.bio.org/events/bio-ceo-investor-conference
Roth is putting n on its 32nd Conference next month..I'm looking for fireworks in this one, prolly some sick stand up combinations from Adams followed by Garners wicked grappling this one can not be missed folks..
https://www.roth.com/Page/Corporate-Access-Conferences
Diaz bless
WOLF TICKETS 2020
https://drive.google.com/file/d/1f_6z5QYaKdOjVAQjwFshKqIIKA_xIeks/view?usp=sharing
CBN Phase 1 + Bill Garner = Target sell $2.09
Diaz bless
WOLF TICKETS 2020
http://egbventures.com/
Diaz bless
WOLF TICKETS 2020
https://www.edisongroup.com/publication/developing-cannabinol-cbn/25998
Bill Garner says see u at .19
Diaz bless
WOLF TICKETS 2020
https://www.google.ca/amp/s/www.thegrowthop.com/the-growthop/inmed-cbn-cannabinol/amp
Yall really have no clue who Bill Garner is do ya
Diaz bless
WOLF TICKETS 2020
Here are a few of the catalysts for the final pump....
- Bill Garner
- Bill Garner
- Bill Garner
Diaz bless
Auxly Cannabis Group Inc. (XLY.V) (CBWTF) (“Auxly” or the “Company”) today announced that, further to the Company's October 18, 2019 press release, certain holders of the Company's remaining 6% unsecured convertible debentures in the principal amount of $98,690,000 maturing on January 16, 2020 (the "Debentures") elected to either convert or amend their Debentures, resulting in $95,425,001 of the principal amount of the Debentures being settled and reducing Auxly’s interest expense by approximately $1.25 million through: (i) the repayment of $79,439,174 of debt; and (ii) the conversion of $15,985,826 into 21,602,460 common shares of the Company at the price of $0.74 per share. “The successful repayment of the majority of the Debentures has strengthened our balance sheet and effectively left Auxly with no long-term debt payable for the next three years,” said Hugo Alves, CEO of Auxly.
WOLF TICKETS 2020
Eric Adam's brought Bill Garner in for the final pump n dump, If no CDMO #2 is chosen for alternate downstream process by annual letter to shareholders at the end of month Its game over most likely
Diaz bless
Dosecann puttin in them hours son. 14 hour days mandated by HUGO, must be pissed FSD made it to Nasdaq
https://www.bnnbloomberg.ca/marijuana/video/why-auxly-skipped-first-phase-of-marijuana-products-to-focus-on-cannabis-2-0~1875776
WOLF TICKETS 2020
https://cutt.ly/xrk7Lwz
Diaz bless
At the end of May, marijuana company Cannabis Wheaton Income Corp. raised $115 million in a bought deal co-led by the Bank of Montreal’s investment banking arm.
The deal, the third involving BMO in the past six months, appeared to confirm a narrative developing in Canada’s cannabis industry: that mainstream financial support, for the most part sidelined by legal and reputational concerns, was finally pouring into the sector.
But for those who have watched the emergence of the industry, a peek inside the deal book would have revealed a familiar name.
More than half of the securities offered — $61.7-million worth of shares and share purchase warrants — were bought by a single hedge fund, MMCap International Inc.
MMCap is a Cayman Island-domiciled “opportunistic multi-strategy fund” that bills itself as being focused on mergers, short selling, convertible arbitrage and other “special situations.”
Over the past four years, MMCap has been the leading player in what numerous industry insiders say has been the biggest untold story of the cannabis sector’s emergence: How a handful of hedge funds have used a sophisticated financial playbook to essentially recycle capital through multiple companies and deals, funding wide swathes of the sector in the process.
Hedge funds have provided much-needed cash to companies with little to no revenue, but the extent of their activity and the often short-term nature of many of their investments raise important questions about the sector and the protection of retail investors as legalization nears.
“The retail investor likely would be concerned if they understood how it worked on the inside of the tent,” said Paul Rosen, former chief executive of PharmaCan Capital Corp., which became Cronos Group Inc., and a prominent investor in the space. “Retail investors tend to pay for the party that the insiders are enjoying.”
Investing in a young and volatile industry is never risk-free, but conversations with more than a dozen people — fund managers, investors, traders and cannabis company executives — and an examination of both public and private documents suggest that the hedge funds have employed an array of strategies that allow them to limit their own risk while securing significant returns.
Retail investors tend to pay for the party that the insiders are enjoying
Paul Rosen, former CEO of PharmaCan Capital
The techniques include using bought deals to close short positions — something that is permitted in Canada providing a fund is not tipped to the pending deal, but that faces restrictions in the U.S. — and borrowing shares from company insiders during private placements, a tactic that can give an investor liquidity to hedge out their position before the traditional lock-up period ends.
“There’s almost going to be nothing that they don’t have some way to hedge on,” said Canopy Growth Corp.’s chief executive Bruce Linton, who has been dealing with MMCap since 2014, when it participated in early financing for Canopy’s predecessor, Tweed Marijuana Inc.
Canopy’s own $200-million financing in January, also co-led by BMO, saw two-thirds of the securities being bought by three hedge funds, with $100 million going to MMCap.
The speed at which Canada’s legal cannabis industry has emerged, and the excitement surrounding it, has often made it difficult for retail investors to figure out what’s happening behind the scenes of the companies they’re buying into.
Canopy Growth Corp. CEO Bruce Linton
In less than four years, dozens of companies have raised billions of dollars, positioning the best among them to dominate the upcoming legal recreational market at home and the medical marijuana market abroad.
With this, valuations have exploded, particularly in the past 12 months. Canopy, the world’s largest public cannabis company, now has a market cap of around $8 billion, and the five largest public Canadian cannabis companies have a collective market cap of around $20 billion.
Remarkably, it’s largely been achieved without institutional money.
Hedge funds such as MMCap, and others known to be active in the space, have played a major role in that growth.
Public records show that MMCap alone has pumped at least $600 million into more than a dozen cannabis companies over the past three years, helping fund big names such as Aurora Cannabis Inc. and Aphria Inc., mid-sized companies including The Supreme Cannabis Company Inc. and Hydropothecary Corp., and smaller players, among them Invictus MD Strategy Corp. and Hiku Brands Company Ltd.
And that’s only what shows up in public filings.
MMCap has participated in most Canopy financings since 2014, Linton said. But its name does not appear to surface in Canopy’s public documents, suggesting the fund’s total impact could be much larger than $600 million.
“Those funds, for the most part, make up anywhere from 50 to 90 per cent of any deal. And early on they were like 90 to 100 per cent of those deals, the same five or six funds popping up on every single list,” said one industry insider, who spoke on condition of anonymity. Numerous other industry insiders echoed this assessment.
MMCap’s extensive funding comes despite the fact that its Canadian arm — which is managed by Toronto-based Spartan Fund Management Inc. and run day-to-day by Hillel Meltz and Matthew MacIsaac under the name MM Asset Management — reported a net asset value of less than $500 million at the end of 2017.
Those funds, for the most part, make up anywhere from 50 to 90 per cent of any deal. And early on they were like 90 to 100 per cent of those dealsIndustry insider
When asked about its strategies, MMCap wouldn’t comment, with Meltz writing that “we don’t discuss investment strategies or holdings publicly.” A lawyer representing the firm, Jason Chertin of McMillan LLP, added that MMCap “operates its business in compliance with applicable securities laws and regulatory requirements.”
Elements of the playbook used by hedge funds such as MMCap, however, can be reconstructed from public filings and conversations with people with knowledge of their tactics.
On a basic level, it is understood that retail investor excitement over the cannabis industry has been crucial to the hedge funds’ success.
For the past several years, retail investors have been eager to snap up almost any cannabis-related security, providing a cushion of demand that doesn’t exist in other Canadian small-cap spaces such as junior mining or oil and gas exploration.
In some instances, that has allowed funds to cash out of their positions almost immediately following bought deal financings, leaving them to profit from “sweeteners” such as share purchase warrants, but with little skin left in the game in terms of the companies involved.
Another strategy involves using bought deals to close pre-existing short positions, in the hopes of taking advantage of the usually discounted price of shares being offered.
This type of transaction is impossible to see in public filings, but was described by numerous people with knowledge of cannabis financing.
“We have a net short bias to the (cannabis) space,” explained one investment manager who spoke on the condition of anonymity. “So deals that come along opportunistically can generate a little alpha for a short period of time. It’s not that we short stocks in front of deals — we’re always short stocks and we can cover and re-put it back out.”
The investment manager likened the strategy to game theory.
“If you put on a graph when all the LPs (licensed producers) raise, it will be cluster, cluster, cluster. So if you see three raise, you know these other five have to raise. And so people will say, ‘Okay, I might as well be long this one and short this one.’”
Retail investors have been eager to snap up almost any cannabis-related security, providing a cushion of demand that doesnt exist in other Canadian small-cap spaces. Brent Lewin/Bloomberg
This kind of trade is legal in Canada as long as it doesn’t involve insider tipping. It’s not, however, always legal in the United States, where the Securities and Exchange Commission prevents firms that sell short in the days ahead of an equity financing from participating in the deal, due to concerns over potential price manipulation.
Then there are the deals that appear to be structured to reduce a hedge fund’s investment risk, with things such as share lending agreements with company insiders.
One such deal, involving MMCap and Cannabis Wheaton — which changed its named to Auxly Cannabis Group Inc. on June 8 — can be seen clearly in public filings.
In November 2017, Cannabis Wheaton raised $35 million through the sale of convertible debentures, $28 million of which came from MMCap.
Convertible debentures are a type of interest-paying bond that can be converted into shares at a set price. Typically they stop paying interest if and when they are converted into shares.
Cannabis Wheaton, however, indicated in a press release in September — the only publicly available description of the debentures — that buyers of the company’s eight-per-cent debentures could convert them “at any time,” and they would still receive “a cash payment equal to the additional interest amount … (it) would have received if it had held the Debentures from the date of conversion to the maturity date.”
MMCap appears to have wasted no time. Public filings indicate that it converted the November debentures sometime between Nov. 10 and Dec. 10 into 23,333,333 shares at a conversion price of $1.20, even though Cannabis Wheaton shares did not close above $1.20 at any point during that time frame.
According to the terms, the conversion would have triggered an immediate payout of five years worth of interest payments — or more than $11 million — less than six weeks after the deal was closed.
In connection to its series of financings, MMCap also entered into share lending agreements with insiders of Cannabis Wheaton.
According to public disclosures on SEDI (the System for Electronic Disclosure by insiders) and regulatory filings, MMCap had at various times nearly 40 million shares on borrow from insiders at the company.
Of those borrowed shares, 23,333,333 were marked to be returned on March 2, 2018, according to an alternative monthly report filed by Cannabis Wheaton and signed by MMCap’s Meltz. That date coincides with the end of the four-month lock-up period for the November securities.
MMCap did not address a question about the purpose of the share lending agreements, but convertible arbitrage strategies often involve establishing an offsetting short equity position.
Given that MMCap had already triggered the share conversion, it could have essentially hedged its entire 23-million-plus share holdings before the four-month lock-up had expired, and would have still held roughly 23 million share purchase warrants that were part of the original deal.
“If we did the term debt we’re paying that interest anyway,” said Cannabis Wheaton chief executive Chuck Rifici, acknowledging that a one-time interest payment was made to MMCap.
“You typically prefer not to do convertible debt,” he said. “But when a company needs capital at a certain time, then you have to look at what’s available to you, and I think the reason MMCap has been successful with a number of companies … is that they come in with a large lead order.”
The relationship between MMCap and Cannabis Wheaton has continued. In January, public filings show MMCap agreed to take another $67.9-million worth of Cannabis Wheaton convertible debentures. By April, the fund had sold all the warrants, shares and debentures it had acquired in its two previous deals, in June and November of last year.
Then there’s the financing in May that was co-led by BMO. According to a regulatory filing, MMCap acquired 56.1 million shares, but disposed of 17.5 million within a week.
“They recycle cash into new deals,” Rifici said. “At a micro level, you could see how they’re short here, long here, but at a macro level, as far as our relationship with MMCap, I see them as a long investor and supporter of Cannabis Wheaton.”
Share lending agreements involving MMCap also appear in filings from Aurora (9.7 million shares lent out in 2016), Hydropothecary (2.5 million in 2017) and Invictus (1.5 million in 2017).
Whatever combination of long and short strategies MMCap has used, it has made massive returns on the cannabis trade. In 2016, the Canadian arm of the fund posted an annual return of 45.32 per cent, according to a company report.
In 2017, the annual return rose to 61.42 per cent, with the company posting a 25.15 per cent return in December alone.
The deals have been a boon for investment banks such as Canaccord Genuity Corp. and GMP Securities Ltd., as well as smaller boutique firms like Eight Capital Corp. or Clarus Securities Inc., which, until recently, had a free hand to bank the sector while the Big Five banks stayed away.
When you have slam dunk, fee-generating opportunities, where you can raise money for a cannabis company and you only need a relationship with a handful of hedge funds that will take the deal, it’s a pretty great recurring revenue opportunity, just doing deal after deal after deal
Industry insider
Canaccord, for example, generated record earnings in the last three months of 2017, with significant revenue coming from the Canadian cannabis trade. For example, Canaccord made $3.7 million in fees on Aurora’s $115 million raise in November, of which MMCap took $104 million.
“When you have slam dunk, fee-generating opportunities, where you can raise money for a cannabis company and you only need a relationship with a handful of hedge funds that will take the deal, it’s a pretty great recurring revenue opportunity, just doing deal after deal after deal,” an industry insider said.
None of the investment banks mentioned responded to requests for comment.
If the cannabis trade has been a cash cow for fund managers and investment banks, it’s less clear what it means for retail investors.
Dozens of cannabis companies have been catapulted onto Canadian public exchanges, typically through reverse takeovers of energy or mining shell companies, many with little more than a licence to cultivate cannabis from Health Canada (an increasingly common asset).
“One of the problems the sector has currently is that there are far fewer businesses than there are companies,” said Linton, whose company, Canopy, is one of the few cannabis players that have been able to start attracting investments from mainstream names such as BlackRock Inc.
“If you’ve got these (hedge fund) guys on a trade, the underlying company doesn’t have to be a great company, it has to be a good trade,” Linton said. Retail investors, however, don’t typically see these machinations.
They see companies raising hundreds of millions of dollars in a sector with undeniable momentum, even if valuations are astronomical. Driven by a combination of excitement and fear of missing out, they’ve been enthusiastic buyers of cannabis company shares, no matter how steep the hill to profitability some of the companies might face.
“We saw it in the ’90s here in the U.S. with the dot-com bubble, we’ve seen it with blips recently in crypto, where there’s just so much demand. You can’t blame the companies which are taking advantage of the situation to raise capital,” said Karan Wadhera, a former Goldman Sachs investment banker and the managing partner of U.S. cannabis investment firm Casa Verde Capital.
“Hopefully, they’re doing it for the right reasons to shore up their balance sheet and make smart acquisitions. (But) compared to what I’m investing in and what we’re doing on the private side, no, (Canadian valuations) don’t look reasonable at all.”
It’s the history of all bubbles and crashes: it's always that retail guy getting in at the end, and they're buying the worst companies.
There’s no doubt the hedge funds have helped back powerhouses, which could be around decades from now doing deals with pharmaceutical companies and competing with major alcohol sellers. Likewise they’ve floated smaller players able to carve out profitable niches at different points in the value chain.
But in the process of making money for their investors, they’ve kicked up a lot of froth.
“It’s the history of all bubbles and crashes: it’s always that retail guy getting in at the end, and they’re buying the worst companies,” said the investment manager who asked to remain anonymous.
“They’re not buying Canopy … They’re buying the garbage at $1 thinking it’s going to $50. And it’s crazy, but nobody listens, and history repeats itself OMG OMG continuously.”
INM-750/5 Patent Due
After Patent Application Filing The average time it takes to obtain a patent from the patent office at this time is about 32 months or a little under 3 years. InMed files the EB PCT in March 2017, therefore we could expect to the patent grant within the 1-2 months.
Wolf tickets 2020
Diaz bless
InMed Biotech Showcase 14 Jan 2020
Same as last year in SF. InMed Pharmaceuticals Inc. TSX: IN Canada Categorical Listing: Bioinformatics, Orphan/Rare Disease Tue, January 14 at 9:00AM
Wolf tickets will be hustled
https://informaconnect.com/biotech-showcase/
WOLF TICKETS 2020
ERIC ADAMS SON JUST BEAT HIS DAD AT HIS OWN GAME...
https://www.cosmeticsdesign.com/Headlines/Business-Financial/Biotech-derived-cannabinoid-molecules-from-Amyris-are-on-their-way-into-beauty
Just spoke to my broker, said this is the best time to go all in on this. Robin of locksley is the Prince a streams and he steals from the rich and gives to the poor, aka Peter Pan never gonna grow up
Mancini bought wolf tickets for cannabis 2 point o. imagine having to give 37 kids lunch money, she must know something
Hear-ye hear-ye Cannabis two point O is just hours away
Diaz bless
The town crier once yelled hear-ye hear-ye and all that was known to be said is cannabis two point o. Wolf tickets limited get yourreserved tickets now or never.
MANCINI HAS BOUGHT 85,000 WOLF TICKETS WITHIN THE LAST WEEK
This will likely hover around 0.6281 all weekend
Diaz bless
We were all sold wolf tickets and now I hold a wet paper bag of these damned tickets, not sure if hindsight is 20 20 or if its 209 but either way, TRADE BY DAY, INVESTORSHUB BY NITE. ALL DAY
Wolf tickets here, wolf tickets there, oh even way over here are some more wolf tickets also, that is all I heard during the conference call. Eric Adam's, Bruce Colwill, Bruce Charpentier, Alexandra Mancini, Eric Hsu, and Michael Woudenberg are selling you wolf tickets people, Eric Adam's spends all his money on his eyelashes cuz his boyfriend loves too look deep into those eyes and gets motivation to just hustle more wolf tickets,Dinh and Maccarrone, are just as bad. They make u think they are working towards something when in reality just a bunch of wolf ticket salesmen.
Maybe if this company wasn't sellin wolf tickets this entire time we would made some progress by now, Adam's, Mancini, Blacher, Hsu, the whole BOD are selling you wolf tickets people they only progressing towards one thing and its securities fraud and wire fraud charges.
Wolf tickets musta been a hot item leading into this labor day weekend, keep eating em up inmed investors, heard they got downstream scaled up to industrial production.
Trade by day, investorsHub by night, all day
By the end a the week Whitney Houston will have exhaled and Charles Rifcici will have set us longs into a tizzy of whether to add or to sell. Robin of locksley prince of streams just set all the CanadianLP's loose,
trade by day, investorshub by night, all day
Josh Blacher is a journeyman when it comes to sellin wolf tickets
$IMLFF analysis for a long investor, the 6 month chart could be considered in one word "Beautiful"
Alexandra Mancini sellin you all wolf tickets.