****FACTS & TRUTH-MOST IMPORTANT GCGX POST****
Notes:
1-CO HAS NOW BEEN ISSUED
2-INFUSED EDIBLED DEAL RESCINDED- WILL CREATE OWN BRAND THAT GCGX OWNS. 380M shares
Returned back to OS making it 577M now.
Global Consortium, Inc. “GCGX” through its affiliate Global Consortium Holdings, Inc., owns Indulge Oils, its cannabis distillate division, and Infused Edibles its edibles division. Both companies operate in California. Infused Edibles operates in San Bernardino, California and Indulge Oils will operate in Sacramento, California.
Global Consortium does not own any licenses to operate in the cannabis sector in California or any other State. Global will operate as a marketing arm that does not touch the plant. The reason for this is moving forward, the Company will be able to make an application to list on NASDAQ so long as it does not touch the plant.
GCGX has entered an associated service agreement with Global Consortium Group, LLC “GCG” a licensed cannabis company incorporated in California owned by Matthew Dwyer and Tom Roland. GCG currently has a manufacturing annual license and a temporary distributors license. GCG will handle all manufacturing for GCGX and provide distributions services for all of GCGX brands. GCGX will receive a percentage of all the manufacturing revenue generated by GCG. Although GCG has received its annual license, the company is not operational. A conditional use permit was issued in December of 2018 that allowed the Company to begin operations. In January, GCG received a cease and desist letter to halt operations until the Certificate of Occupancy “CO” was issued by the City. As of the date of this report, the CO has not been issued. The final permits to complete the renovations were issued on June 19, 2019. The CO is expected to be issued by August 15, 2019 at which time GCG will be able to begin operations.
