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they're breaking out every price they can to keep this in 12's
whatever mm dumped all those shares between12:30 &1 is crapping their pants right now. soaked it right up. borders is probably laughing his butt off
nate's spicy power-hour pickles!
What does the DD amanda chart look like, i wonder? Nice post thanks stervc.
makes me want more. still holding tight
good post.
With Mr. Lustig at the helm, and the team in place that developed this incredible technology, this company is about to go big. Looking back at the deals Marc has put together, including CannaRoyalty/ORHOF/CRLBF, Trichome/IMCC (volume boosting this week btw- check the dd amanda cap. rel.)
IMCC had factors of 10, 13, and 15 to start the week with $26M traded at the peak Wednesday.
Expecting WFLD to move up into the teens, and uplist as planned by management, but do not know the timing. This is as real as it gets and puts Mr. Lustig in a much bigger pond than even one of the largest MSOs in the US represents in his CRLBF position. This will likely be Marc's biggest deal.
on the tech side:
Seamless has architected innovative protocols on blockchains to provide necessary DeFi services.
Blockchains are decentralized transaction ledgers that with smart contracts and secure protocols empower various types of applications and command a growing market based on this technology.
A major area of this movement occurs in the financial world from centralized to a decentralized digital world. Decentralized finance is based on code embedded in decentralized blockchains that in turn, eliminates friction and cost with no intermediaries.
We envision a shift from traditional, centralized financial systems to peer-to-peer finance, enabled by decentralized protocols built on the blockchain technology. Seamless focuses on providing DeFi solutions that support the transition towards a decentralized digital economy.
Seamless Protocols for Decentralized Finance
Shift liquidity from Bitcoin to Ethereum with Compatible Bitcoin ERC20 token
Cross Blockchain Decentralized Exchange to enable smooth swap of assets
Optimize liquidity pools on DEX by leveraging Impermanent Loss (IL) to provide financial services like loans and hedging
Seamless is part of Wellfield Technologies, Inc.
https://wellfield.io/seamless
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The best of both cash and digital payments in one.
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Wellfield, a Decentralized Finance R&D company launching technology on the Ethereum and Bitcoin blockchains, prepares for trading on or about November 30th
VANCOUVER, BC, Nov. 24, 2021 /CNW/ - Wellfield Technologies Inc. (the "Company" or "Wellfield"), is pleased to announce that it has completed the previously announced business combination (the "Business Combination") with Seamless Logic Software Limited ("SLS") and MoneyClip Inc. ("MC"). The Business Combination was completed pursuant to a business combination agreement dated May 21, 2021 (the "Business Combination Agreement") which outlined a series of transactions that will result in the merger of SLS and MC followed by a reverse take-over of 1290447 B.C. Ltd. (the Company as it existed prior to the Business Combination, referred to as "129 BC") by the former shareholders of SLS and MC to create a unified business under the name "Wellfield Technologies Inc."
Wellfield develops complementary, cutting-edge technology infrastructure designed to facilitate decentralized finance ("DeFi") by streamlining cross-blockchain trading and making Bitcoin compatible with DeFi. In combining the companies, Wellfield wishes to create a new reality where money and financial services are accessible, streamlined, cost-effective, inclusive, work for the way people live, and are under their control. To do this, Wellfield is developing a blockchain-based infrastructure for financial services which will extend existing financial services to any participant in an open, cost efficient and transparent way through applications based on innovative blockchain protocols. Wellfield's solutions will create an immutable and highly interoperable financial system with unprecedented transparency, equal access rights, and little (or no) need for custodians, central clearinghouses, or escrow services. By combining distributed financial protocols with regulatory compliant consumer applications, management has a unique vision to build a sustainable and disruptive business in the DeFi industry. Wellfield's leading team includes founders and academic advisors with decades of experience in finance and technology, as well as deep knowledge in computer science fields related to blockchain, cryptography and complexity.
With the Business Combination completed, the Company will seek final approval from the TSX Venture Exchange ("TSXV") for the listing of Wellfield Shares and Wellfield Warrants (as each term is defined herein) and expects to begin trading on the TSXV on or about November 30, 2021, under the trading symbols "WFLD" and "WFLD.WT" respectively, subject to the satisfaction of certain customary conditions outlined in the TSXV's conditional approval letter.
A listing application on Form 2B (the "Listing Application") prepared in accordance with the policies of the Exchange has been be made available on the Company's SEDAR profile, available at www.sedar.com, and contains additional information regarding Wellfield, the Business Combination and the Concurrent Financing (as defined herein). The contents of this press release are expressly qualified by the disclosures and contents of the Listing Application.
Concurrent Financing
In connection with the Business Combination, Wellfield completed the previously announced private placement of subscription receipts (the "Subscription Receipts") at a price of $1.00 per Subscription Receipt (the "Issue Price"). A total of 20,475,000 Subscription Receipts were issued for aggregate gross proceeds of $20,475,000 (the "Concurrent Financing"). The Subscription Receipts were issued by 1308692 B.C. Ltd. ("Finco"), a special-purpose entity created solely for the purpose of completing the Concurrent Financing. Canaccord Genuity Corp. (the "Agent") acted as the agent in connection with the Concurrent Financing to offer the Subscription Receipts for sale on a "best efforts" agency basis pursuant to an agency agreement dated July 16, 2021 among 129 BC, Finco, Seamless, MoneyClip and the Agent. Odyssey Trust Company ("Odyssey") has been appointed as subscription receipt agent in connection with the Concurrent Financing pursuant to a subscription receipt agreement dated July 16, 2021 among Finco, Seamless, MoneyClip, Odyssey and the Agent, as amended (the "Subscription Receipt Agreement").
Each Subscription Receipt entitled the holder thereof to receive, upon the satisfaction or waiver (to the extent such waiver is permitted) of the Escrow Release Conditions (as defined in the Subscription Receipt Agreement), without payment of additional consideration therefor, one common share in the capital of Finco (each, a "Finco Share") and one-half of one common share purchase warrant in the capital of Finco (each whole warrant, a "Finco Warrant"). The Finco Warrants were governed by the terms of a warrant indenture between Finco and Odyssey dated July 16, 2021 (the "Warrant Indenture"). Each Finco Warrant is exercisable to acquire one Finco Share for a period of 36 months at an exercise price of $2.00.
In connection with the Concurrent Financing, the Agent received a cash commission of $552,085 and a cash advisory fee of $267,050 (collectively, the "Agent's Fee"). Upon the completion of the Business Combination, the Agent was issued 552,085 compensation warrants and 267,050 advisor warrants (collectively, the "Broker Warrants"). Each Broker Warrant is exercisable to acquire one common share in the capital of Wellfield (a "Wellfield Share") at the Issue Price for a period of 36 months (the "Exercise Period"). The gross proceeds of the Concurrent Financing, less an amount equal to 50% of the Agent's Fee and all of the reasonable costs and expenses of the Agent in connection with the Concurrent Financing, (the "Escrowed Funds") were deposited with Odyssey until the satisfaction of the Escrow Release Conditions, following which the remaining 50% of the Agent's Fee was paid to the Agent and the balance of the Escrowed Funds was released to Wellfield.
The proceeds of the Concurrent Financing are anticipated to be used principally to fund the Business Combination, and for research and development, marketing, sales, corporate and general working capital purposes.
Shareholder Approvals
The entering into of the Business Combination Agreement was approved by the SLS shareholders at an extraordinary meeting of shareholders held on July 6, 2021 and by the MC shareholders by way of unanimous written resolution. Further, all shareholders of SLS and MC executed and delivered joinder agreements to the Business Combination Agreement and as such were parties to the Business Combination Agreement. The shareholders of 129 BC approved the Business Combination by way of a unanimous written resolution and in connection with the Business Combination approved, among other things, effective on closing of the Business Combination:
a change of name of the Company to "Wellfield Technologies Inc.";
a change of auditor of the Company from Stern and Lovrics LLP to MNP LLP; and
an amendment to the articles of the Company to provide for an advance notice provision.
The advance notice provision requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors (the "Board") are made by shareholders of the Company. The Policy fixes deadlines by which shareholders of record must submit director nominations to the Company prior to any annual or special meeting of shareholders, and sets forth the information a shareholder must include in the notice for an effective nomination to occur. No person will be eligible for election as a director unless nominated in accordance with the advance notice provision.
In the case of an annual meeting of shareholders, the deadline for notice pursuant to the advance notice provision is not less than 30 days, or more than 65 days, prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting (which is not also an annual meeting) of shareholders called for the purpose of electing directors (whether or not called for any other purposes), the deadline for notice pursuant to the advance notice provision is no later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
Terms of the Business Combination
Immediately prior to closing of the Business Combination:
129 BC effected a stock split of its common shares on the basis of 1.36 post-split common shares for every 1 pre-split common share (the post-split common shares being, the Wellfield Shares), such that immediately following the stock split, a total of 2,500,000 common shares were issued and outstanding.
Each Subscription Receipt was automatically exchanged for one Finco Share and one half of one Finco Warrant pursuant to the terms and conditions of the Subscription Receipt Agreement.
On closing of the Business Combination:
A wholly-owned subsidiary of 129 BC, WF Exchangeco Ltd. ("Exchangeco"), acquired all issued and outstanding securities of SLS and MC in exchange for common shares of Exchangeco (the "Exchangeco Shares"). Each SLS share was exchanged for 0.657 of an Exchangeco Share and each MC share was exchanged for 0.624 of an Exchangeco Share. As a result of the foregoing, the former shareholders of SLS and the former shareholders of MC held 61% and 39%, of the issued and outstanding Exchangeco Shares respectively (the "Share Exchange"). Following the Share Exchange, SLS and MC became wholly-owned subsidiaries of Exchangeco.
Pursuant to the Share Exchange, the issued and outstanding restricted stock units granted to certain employees and contractors of MC, were exchanged for restricted stock units of Exchangeco at the same exchange ratio applicable to MC shareholders in the Share Exchange (the "Exchangeco RSUs").
129 BC, Exchangeco and WF Subco 1 Ltd., a wholly-owned subsidiary of 129 BC ("Subco 1"), completed a three-cornered amalgamation under the laws of the Province of British Columbia, pursuant to which, Exchangeco shareholders (being the former shareholders of SLS and MC) received one Wellfield Share in exchange for each Exchangeco Share held, and Exchangeco and Subco 1 amalgamated ("Amalgamation 1"). In addition each Exchangeco RSU was exchanged for a Resulting Issuer restricted stock unit ("RSU") on a 1:1 basis.
129 BC, Finco and WF Subco 2 Ltd., a wholly-owned subsidiary of 129 BC ("Subco 2"), completed a three-cornered amalgamation under the laws of the Province of British Columbia, pursuant to which, Finco shareholders (being the former holders of the Subscription Receipts) received one Wellfield Shares and one common share purchase warrant of Wellfield (the "Wellfield Warrants") in exchange for each Finco Share and Finco Warrant held, respectively, and Finco and Subco 2 amalgamated ("Amalgamation 2"). Following Amalgamation 2, the resulting entity ("Amalco"), was wound-up and dissolved, pursuant to which all of the assets of Amalco will be distributed to Wellfield.
In connection with the closing of the Business Combination, Wellfield and Odyssey will enter into a supplemental indenture to the Warrant Indenture which governs the Wellfield Warrants. Each Wellfield Warrant is exercisable to acquire one Wellfield Share for a period of 36 months at an exercise price of $2.00.
Insiders, Officers and Board of Directors of the Resulting Issuer
Upon completion of the Business Combination, all directors and officers of the Company resigned and were replaced by nominees of SLS and MC. The following sets out the names and backgrounds of the seven (7) directors and officers of Wellfield.
Marc Lustig, Chairman of the Board of Directors
Mr. Lustig is currently the chairman of the board of directors of SLS and will hold the same position with the Resulting Issuer following the completion of the Business Combination. Mr. Lustig holds MSc and MBA degrees from McGill University. He began his professional career in the pharmaceutical industry at Merck & Co. In 2000, he started his capital markets career in institutional equity research in the Life Sciences sector at Orion Securities. For the next 14 years, Mr. Lustig worked at GMP Securities L.P. and as Head of Capital Markets at Dundee Capital Markets before becoming a Principal at KES7 Capital. In 2015 Mr. Lustig founded CannaRoyalty Corp. (Origin House). Origin House was sold to Cresco Labs in January 2020. Mr. Lustig is currently a Director of Cresco Labs Inc., Aequus Pharmaceuticals Inc. and PharmaCielo Ltd. He is also Chairman of IM Cannabis Corp.
Levy Cohen, Chief Executive Officer & Director
Mr. Cohen is an entrepreneur with over 30 years of executive experience in the high-tech industry. Mr. Cohen has extensive experience leading technology-driven banking and payments companies in both Israel and Silicon Valley, focusing on building strong product and service-oriented user experiences. Since founding Seamless in 2018, Levy has researched and developed innovative technologies to advance DeFi.
Chanan Steinhart, Co-Chief Executive Officer, Strategy and Business Development & Director
Mr. C. Steinhart is the president and a director of MC and will be the co-CEO, strategy and business development and a director of the Resulting Issuer following the completion of the Business Combination. Prior to founding MC in 2019, Mr. C. Steinhart spent the last two decades in the emerging technology industry with a focus on consumer products and experience, including, in 1996, a consulting engagement with Apple Inc. on projects to define and implement their eCommerce strategy. Mr. C. Steinhart co-founded DigiLabs Inc. in 2002 and, among other projects, developed and operated commercial web to print software used by major hardware manufacturers (HP, Xerox, Fuji, Cannon, and Kodak) which was ultimately purchased by Kodak. Mr. C. Steinhart is a thought leader and speaker in finance and technology and has published two books, the latest titled "A Brief History of Money" (2015). He writes a bi-weekly column in Globes, an Israeli financial newspaper.
Yishai Steinhart, Chief Technology Officer & VP R&D
Mr. Y. Steinhart is the chief technology officer and a director of MC and will be the chief technology officer and VP R&D of the Resulting Issuer following the completion of the Business Combination. Mr. Y. Steinhart is a seasoned developer and manager, with experience working at high growth software companies in both Israel and Silicon Valley, and is highly experienced in software architecture and product commercialization that leverage new technologies. Over the course of his career, Mr. Y. Steinhart has worked with MicroMacro and Apple Inc., where he assisted with word processing, I-Impact, where he assisted with big data and PABC Capital, where he assisted with blockchain technology. Mr. Y. Steinhart co-founded DigiLabs Inc. in 2002 and, among other projects, developed and operated commercial web to print software used by major hardware manufacturers (HP, Xerox, Fuji, Cannon, and Kodak) which was ultimately purchased by Kodak. Yishai is highly experienced in software architecture and product commercialization that leveraged new technologies, including: word processing (MicroMacro & Apple Inc.), big data (I-Impact), cloud computing (DigiLabs), and blockchain (PABC Capital).
Brian Lock, Chief Financial Officer
Mr. Lock is the chief financial officer and operations manager of MC and will be the Interim Chief Financial Officer & Head of Product Marketing, Operations (Canada) of the Resulting Issuer following the completion of the Business Combination. Mr. Lock is an early digital currency investor and blockchain startup advisor in addition to having a career in accounting prior to entering the blockchain space. Mr. Lock spent the first eight years of his career in assurance and advisory roles in public practice accounting at Norton McMullen LLP in Markham, Ontario, where he earned his Chartered Professional Accountant designation.
Christie Henderson, Director
Ms. Henderson is a successful entrepreneur and business builder, exceptional advisor, professional and community leader, Fellow Chartered Professional Accountant and certified Corporate Director (ICD.D) with more than 20 years of experience with consumer products, retail, real estate, brewery, food and professional service industries and private equity. Ms. Henderson is an experienced board chair, governance, audit and risk committee board member. Ms. Henderson has extensive knowledge in the areas of financial reporting and enterprise risk management, strategy, M&A, corporate finance, governance and succession planning.
Neal Sample, Director
Dr. Sample is the EVP & Chief Information Officer and leads the Technology function at Northwestern Mutual. Dr. Sample has a wide range of expertise, including in the areas of technology strategy (architecture, infrastructure and cloud services, engineering and customer success), data and analytics, enterprise information risk and cybersecurity, digital workplace solutions and digital innovation. Prior to joining Northwestern Mutual, Dr. Sample was executive vice president, chief operating officer at Express Scripts where he was responsible for operations, technology, and enterprise transformation. Dr. Sample previously served in key executive leadership roles at American Express, including President, Enterprise Growth, where he leveraged emerging technologies to reach new customers and geographies, expand mobile and online payment services, and foster inclusion for clients poorly served by traditional financial systems. Prior to American Express, Sample served in a variety of senior leadership positions at companies such as eBay, Yahoo!, and RightOrder.
Dr. Sample received his MS and PhD in Computer Science from Stanford University and his BA and MS in Computer Science from the University of Wyoming. Additionally, Dr. Sample completed a post-doctoral research fellowship with the CIA Office of Research and Development.
Capitalization
On closing of the Business Combination, Wellfield has 102,270,376 Wellfield Shares issued and outstanding, of which: (i) the former 129 BC shareholders hold 2,500,000 Wellfield Shares representing approximately 2.44% of all issued and outstanding Wellfield Shares; (ii) the former SLS shareholders hold 48,797,377 Wellfield Shares representing approximately 47.71% of all issued and outstanding Wellfield Shares; (iii) the former MC Shareholders hold 30,497,999 Resulting Issuer Shares representing 29.82% of all issued and outstanding Wellfield Shares; and (iii) the former holders of Subscription Receipts hold 20,475,000 Wellfield Shares representing approximately 20.02% of all issued and outstanding Wellfield Shares.
In addition, Wellfield has 546,000 RSUs, 10,237,500 Wellfield Warrants and 819,135 Broker Warrants issued and outstanding. In addition, Wellfield intends to grant 500,000 RSUs to certain directors prior to Listing.
Additional Information Regarding the Business Combination
For additional details regarding the Business Combination please see the Listing Application available on the Company's SEDAR profile at www.sedar.com.
Financial Information
The following tables set forth selected historical financial information for SLS and MC for the years ended December 31, 2020 and 2019 and six months ended June 30, 2021, and selected balance sheet data for such years and periods. The audited financial statements of SLS and MC have been prepared in accordance with IFRS. and are available in the Listing Application available on the Company's SEDAR profile at www.sedar.com.
Seamless Logic Software Limited
Balance Sheet Data
As at June 30, 2021
(£)
As at December 31, 2020
(£)
As at December 31, 2019
(£)
Total Assets
2,365,575
78,758
2,898
Total Liabilities
641,306
721,983
575,964
Revenues
1,487
Nil.
Nil.
Net Loss
(221,466)
(70,159)
(672,842)
MoneyClip Inc.
Balance Sheet Data
As at June 30, 2021
(CAD$)
As at December 31, 2020
(CAD$)
As at December 31, 2019
(CAD$)
Total Assets
1,247,534
948,056
241,940
Total Liabilities
1,133,088
588,552
97,035
Revenues
Nil.
2,816
1,621
Net Loss
(159,529)
(479,528)
(386,808)
The following table sets out a summary of selected unaudited pro forma consolidated financial information of Wellfield after giving effect to the Business Combination and the Concurrent Financing, as well as certain other adjustments, and should be read in conjunction with the unaudited pro forma financial statements of Wellfield included in the Listing Application available on the Company's SEDAR profile at www.sedar.com.
Balance Sheet Data
Total ($)
Cash
22,046,262
Total Assets
50,308,851
Total Liabilities
1,346,878
Shareholders' Equity
48,961,973
Sponsorship
The TSXV provided an exemption from the sponsorship requirements in connection with the Business Combination.
Non-Arm's Length Transaction
The Business Combination is a "related party transaction" as defined under MI 61-101 as: Mr. Lustig is the chairman of the board of directors of SLS, the chairman of the board of directors of Wellfield, a former Control Person of 129 BC, a former shareholder of SLS, and a former shareholder of MC. Notwithstanding the foregoing, the Business Combination was exempt from the formal valuation requirement of MI 61-101 on the basis of the exemption in Sections 5.5(b) of MI 61-101. At the time of the approval of the Business Combination, other than Mr. Lustig, there are only two other shareholders of 129 BC, both of whom are also Control Persons of 129 BC. Their approval of the Business Combination was required and received.
About Wellfield Technologies
Wellfield is focused on unlocking the power of decentralized finance (DeFi) by building open and accessible decentralized protocols and also blockchain based consumer products. Seamless - the Company's protocol layer brand - focuses on solutions that enhance and optimize liquidity in the Ethereum ecosystem, make Bitcoin compatible with DeFi, and enable decentralized cross blockchain exchange. MoneyClip - Wellfield's application layer brand - is powered by DeFi to enhance everyday financial products and make money work for the way people live.
https://www.newswire.ca/news-releases/wellfield-technologies-inc-announces-closing-of-business-combination-813347586.html
Cresco Labs to Acquire Three High-Performing Pennsylvania Dispensaries
Cresco Labs signs definitive agreement to acquire three Cure Penn Dispensaries in Pennsylvania (Photo: Business Wire)
September 23, 2021 07:30 AM Eastern Daylight Time
CHICAGO--(BUSINESS WIRE)--Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced today the execution of a definitive agreement to acquire 100% of the outstanding equity interests in Bay, LLC d/b/a Cure Pennsylvania (“Cure Penn”) for an aggregate consideration equal to US$90 million (the “Transaction”). The Transaction is expected to close in Q4 of 2021.
“As we implement localization strategies tailored to state level dynamics, this Transaction with Cure Penn is expected to expand our retail footprint in Pennsylvania, increase profitability, and strengthen our wholesale leadership position in the state. We’re thrilled to continue executing our playbook of achieving depth in strategic markets via rigorous capital allocation,” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs. “The Cure Penn team has developed a high-performing retail platform across three dispensaries that sets up another immediately accretive acquisition for Cresco Labs. We’ve proven our ability to drive incremental top and bottom-line growth from the implementation of Sunnyside’s best-in-class operating model, and we look forward to growing our house of brands which are already among the most sought after by patients in Pennsylvania.”
Operational Highlights
Three operational Cure Penn dispensaries in Lancaster, Phoenixville, and Philadelphia
Cure Penn dispensary locations will be incremental and complementary to Cresco Labs’ four existing Sunnyside dispensaries in Pennsylvania
A retail platform that outperforms the average revenues per-store in Pennsylvania.
Transaction Details
The aggregate consideration amount for the Transaction is equal to Ninety Million Dollars (US$90,000,000) and will be satisfied at closing through the payment of cash and stock. The Transaction will be completed on a cash-free, debt-free basis with a mutually agreed upon normalized target level of working capital. The closing of the Transaction is subject to, among other things, the approval and receipt of all required CSE and regulatory approvals.
https://www.businesswire.com/news/home/20210923005274/en/Cresco-Labs-to-Acquire-Three-High-Performing-Pennsylvania-Dispensaries
MJ Holdings Stock Up On Announcing Debut On OTCQB Market
by
Jelena Martinovic
September 15, 2021 8:55 am
MJ Holdings Stock Up On Announcing Debut On OTCQB Market
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MJ Holdings, Inc.
MJNE
+11.2%
reported that its stock has begun trading on the OTCQB Market under the ticker symbol "MJNE" at the market open on Tuesday, September 14.
Paris Balaouras, founder and chairman of MJ Holdings, which focuses on providing management and consulting services to cannabis enterprises, said that "trading on the OTCQB Market is a step forward for both the company and stakeholders, giving us the comfort and confidence to meet our goals in 2021 and beyond."
Roger Bloss, CEO of the Las Vegas-based company, disclosed that OTCQB listing allows the company to bolster transparency for their shareholders and investors, "providing us with a smooth transition as we expand our efforts to a global audience."
Earlier this year, MJ Holdings announced it was purchasing two cultivation and two production licenses and transferring the proper licenses to its land.
Prior to this, the company inked a letter of intent regarding licenses purchase and has now progressed into a Membership Interest Purchase Agreement.
"In consideration of $1.250M and 200,000 shares of our common stock (Purchase Price), we will soon fully control our own destiny as we have applied to transfer the cultivation licenses to our proprietary land: The Farm," Balaouras stated in February.
Price Action: MJ Holdings' shares traded 6.04% higher at $0.4136 per share after market close on Tuesday.
https://www.benzinga.com/markets/cannabis/21/09/22946195/mj-holdings-stock-up-on-announcing-debut-on-otcqb-market
"This milestone marks the beginning of our expansion to becoming one of the largest cultivators in the U.S.,” said Roger Bloss, CEO of MJ Holdings.
I like this part.
MJ Holdings Inc., Announces Upgraded Listing From OTC Pink Sheets to OTCQB
Press Release | 09/14/2021
LAS VEGAS, Nevada, Sept. 14, 2021 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (“MJ Holdings” or the “Company”)(OTCQB: MJNE) is pleased to announce that the Company has received approval from the OTC Markets Group to begin trading on the OTCQB Market under the ticker symbol “MJNE” at the market open on September 14, 2021.
“Trading on the OTCQB Market is a step forward for both the Company and stakeholders, giving us the comfort and confidence to meet our goals in 2021 and beyond," said Paris Balaouras, Founder and Chairman of MJ Holdings. “Our standing with the SEC and relationship with our stakeholders is of utmost importance. With their support, we expect to be able to continue making strides to advance the Company.”
https://www.otcmarkets.com/stock/MJNE/news/MJ-Holdings-Inc-Announces-Upgraded-Listing-From-OTC-Pink-Sheets-to-OTCQB?id=320856
with great news like this, I expect you are right
Indeed, good to see. Expecting good news shortly.
kinda wish i had averaged up (of course to have a bigger stack)
but looking at over 14,000% gains, so far, ain't bad at all
Great news.
Don't miss this one, news is stacking up.
the hearing was scheduled for 5/24, today
any updates?
Enjoying owning the stock very much. Despite possibly being down a little (I went nuts at the top) but combined with my cheepies etc, I'm pretty close to even at these levels.
The story has yet to be told. Many positives coming our way!
>Even the ex was nice once every three years.
Wew lad, glad I found this place..
Will be lurking for a time, heard you like EGYF. As do I, and I will attempt to discern your reasons. Not a chartist but we seem to have arrived at the same conclusion- perhaps for different reasons.
I do agree with your choice of geographic location and we have arrived at this conclusion for the exact same reasons. (Even another 1000 miles south of Key West would suit this anon!) I however have managed to migrate north from the more pleasing latitudes due to other business related reasons (but not too far north!) and may enjoy any comments you make from time to time about the sun and sea in addition to your technical analysis and meatloaf, whenever I finally figure out wtf that is!
Bat Out of Hell
I'm sure you get this a lot.
$MJNE NEW LICENSE$
welp this is huge.. today's wire
Roger Bloss is a genius, he pulled off these licenses leveraging very little in assets for the purchase. This was before the HCMC cert. This news plus the 6 million dollars plus in found money will have MJNE cooking with gas. HOLD on and BUY shares, frens!!
MJ Holdings, Inc. (OTCMKTS:MJNE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On February 5, 2021 (the “Effective Date”), the Company (as “Purchaser”) entered into a Membership Interest Purchase Agreement of MJ Distributing C202, LLC (hereinafter “C202”) and MJ Distributing P133, LLC (hereinafter “P133”)(hereinafter, the “MIPA3”) with MJ Distributing, Inc., a Nevada corporation (the “Seller”), Mark Zobrist, an individual resident of the State of Nevada (“Zobrist”), and John Goss, an individual resident of the State of Nevada (“Goss”, and collectively, with Zobrist, “Owners”).
Under the terms of the MIPA3, the Purchaser has agreed to acquire all of the issued and outstanding Membership Interests of C202 and P133 that are each a holder of certain cultivation and production certificates: (i) medical marijuana registration certificate for Cultivation (C202 – Cert. No. 48306359790925315497)(the “Medical Cultivation Certificate”), (ii) Recreational Use marijuana facility license and certificate for Cultivation (RC202 – cert. # 43160131583347244176)(the “Recreational Cultivation Certificate”), (iii) medical marijuana registration certificate for Production (P133 – Cert. No. 08705048067480042809)(the “Medical Production Certificate”), and (iv) Recreational Use marijuana facility license and certificate for Production (RP133 – cert. #07793712489874595708)(the “Recreational Production Certificate”).
In consideration of the sale, transfer, assignment and delivery of the Membership Interests to Purchaser, and the covenants made by Seller under the Agreement, Purchaser agrees to pay a combination of cash, promissory notes, and stock as consideration in the amount of One-Million-Two-Hundred-Fifty Thousand Dollars ($1,250,000.00) in cash and/or promissory notes and 200,000 shares of MJ Holdings, Inc. restricted common stock, all of which constitutes the consideration agreed to herein for (the “Purchase Price”), payable as follows: (i) a non-refundable down payment in the amount of $300,000 was made on January 15, 2021, (ii) the second payment in the amount of $200,000 was made on February 4, 2021, (iii) a deposit in the amount of $100,000 was paid on February 4, 2021, (iv) $200,000 shall be deposited on or before April 12, 2021, (v) $200,000 shall be deposited on or before June 12, 2021, and (vi) $250,000 shall be deposited within five (5) business days after the Nevada Cannabis Compliance Board (“CCB”) provides notice on its agenda that the Licenses are set for hearing to approve the transfer of ownership from the Seller to the Purchaser.
The closing of the Contemplated Transactions (the “Closing”) shall take place as soon as practicable, but no later than five (5) Business Days after the satisfaction or waiver of each of the conditions set forth in the MIPA3, inclusive of the Purchaser having obtained Ownership Approval. The transactions contemplated by this MIPA3 require privilege licensing and approvals by certain regulatory authorities (“Regulatory Authorities”) including, without limitation, the CCB and Nye County, Nevada (collectively “Ownership Approval”). Purchaser and Seller shall submit applications for the Ownership Approval within fifteen (15) days of the Effective Date.
https://marketexclusive.com/mj-holdings-inc-otcmktsmjne-files-an-8-k-entry-into-a-material-definitive-agreement-3/2021/02/
Jason Spatafora's been slapping that ask!
$MJNE
I keep slapping $mjne ask just to test it a d the ask just refills. Anyone have short report on this low float #potstock?
— Jason Spatafora (@WolfOfWeedST) February 3, 2021
that chart looks great!
ty
More good news. And more coming.
$MJNE
expect dollars shortly
$MJNE$ new 8k filing this morning
https://ih.advfn.com/stock-market/USOTC/mj-pk-MJNE/stock-news/84103138/current-report-filing-8-k
Item 1.01. Entry into a Material Definitive Agreement.
On December12, 2020, the Company, through its wholly owned subsidiary (Prescott Management, LLC), entered into a sales contract with Helping Hands Support, Inc. for the sale of the Company’s commercial building located at 1300 South Jones Boulevard, Las Vegas, Nevada 89146.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On January 12, 2021, the Company completed the sale of its commercial building for $1,627,500.
GREAT news for shareholders. Mr. Bloss continues to impress as he cleans up the balance sheet and streamlines for company for generating revenue and focus on the core business. Expect more significant 8k's to keep on coming this year.
Congratulations to all who saw this gem, or are finding it now.
Ty, my twatter is suspended.
Could not be more pleased with what Roger Bloss and team have accomplished in a short time. $MJNE poised for a stellar 2021. Looking forward to many great new developments as Roger's plans come to fruition.
New Form 4 Filing from Vystar.
Looks like Keith Osbourne bought 8.25 million restricted shares last month.
That's a very good sign.
Don't expect these 2's to stick around much longer.
https://ih.advfn.com/stock-market/USOTC/vystar-qb-VYST/stock-news/83907500/statement-of-changes-in-beneficial-ownership-4
Highest VWAP I've noticed yet on HCMC at .0001163 and climbing
I have seen and smelled smoke when using IQOS. Went through about 5 cartons of the sticks. Also need to frequently clean carbon deposits. It's not near as strong as a cigarette smoke-wise, but way stinkier than vape juice vapor. I think a good legal team would be able to put together expert testimony to show what partial combustion is. The IQOS is very, very low combustion imo, maybe 1% or less. But still the heat and design of the device burn or singe the material just a little. HCMC's patent covers "at least partial" combustion. To me it's clear on this point. There is an argument to be made either way, and that's not so good for Philip Morris. Betting they settle.
Try it and see. What they say it does and what it actually does may bear some discrepancy. See 1960's cigarette ads.
I can't believe it's still so quiet in here after the volume continuing. Had some more thoughts and made a few calls. Still don't know much for a fact though beyond my speculations and the 8k which I reviewed in detail.
With these patents there is certainly a valid claim. I do not buy PM's assertion that there is not at least "partial combustion" in these IQOS devices. That being in essence their only defense that I can see. Having used IQOS extensively, and having much experience and expertise in both the vape technology side, and in the combustible cigarette industry, I can affirm the use of partial combustion. In fact I would go so far as to say it is the defining characteristic of these devices.
In essence, the vapor produced by the IQOS device is partially smoke. It has a characteristic aroma and flavor only achieved by combustion which any comparison of devices which truly do not combust at least partially to IQOS will easily show.
This case has merit, as evidenced by the 8k. The surprisingly thin defense described in the 8k is that IQOS does not combust at all. It does. The heat sticks turn black and smoke comes out. I'd like to know more about the defense position than HCMC's description. This issue is at the top of PM management's agenda today. A very resourceful group.
Watching very closely and will let you know if I see anything.
Was wondering what #DDAmanda had to say about this one. Glad I got in at .0001. That factor alone would have induced a buy from me. This could get very interesting. Anyone got a copy of the lawsuit? Could have a look. Subject matter expert here. If there is any validity to this lawsuit, it would mean very big things for HCMC, formerly VaporCorp. This would explain the massive volume spike.
Having done extensive research on iQos in the past, and meeting with PMI executives at that time I learned of PMUSA's plans to roll out the devices in the US market. Per those plans we should have seen much more market penetration, awareness, distribution, and promotion by now. I always suspected there was some hiccup holding them back, it should have been well underway before covid even per what I heard. Could it have been they were worried about the ip and possible patent issues?
In any case PM has made public statements about their support and plans for their "heat not burn" technology using the iQos device. That alone makes this a big case.
This type tech, heat not burn, has long been researched and discussed at a high level at Philip Morris. Honestly they sucked at it when I worked there. They had the accord device like 10 years ago, and remember Chrysalis from 20+ years ago? Chrysalis was into making small and powerful batteries for these devices and PM invested many millions into that, buying the company iirc. As an employee I was told I would be selling batteries in 20 years instead of cigs. That's how long this goes back. I would not be surprised one bit if there was some significant overlap between the tech. The vape industry outpaced big tobacco by leaps and bounds during the early vape years, and the tech developed so fast, that little or no patent work got done in time, and absolutely no enforcement was done in the US or China. China being especially egregious of course in this regard. That alone makes this a big case. It will cost them a lot to defend, and because of that, we will be seeing and hearing plenty about this for some time to come.
They could drop the filings any day, maybe even today.
PCLOF is a very interesting company now that it's in a Marc Lustig deal
picked some up just under 50 cents last week
keeping an eye on this
given they are offering a PPM at .50 with 1/2 warrants at .65 I'd expect dollars in the next year or so if not way sooner given the market and the strategic significance of this operation for LATAM markets in particular