Because before the Chase JV deal...we were not going to get any revenue from Chase BC....It was not our project.
We could get a high interest loan...or major dilution to develop a project...because banks don't lend money to cannabis companies because of federal laws preventing that.
The other option is get a JV partner to put up the money at standard rates...then split the profit.
This option doesn't require selling shares to get the money to develop a project.
It seems to me getting half of a project (that you didn't previously own) without diluting your shareholders...would be better than starting another project with an $80 million dilution....just to own 100% of the project.
Since we don't have $80 million to plop down for new projects... Getting half of someone else's project...that doesn't cost us our money...seems like a smart approach.
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