Greater Cannabis Company Inc (GCAN)

[Diogenes of Sinope]

We review Symtomax’s bonds paying 30% over two years for investing in cannabis

If investors plan to rely on this security, it is essential that they hire professional due diligence specialists (working for themselves, not Symtomax) to confirm that in the event of a default, the assets of Symtomax would be valuable and liquid enough to compensate all investors. Investors should not simply rely on what Symtomax tells them about their assets.

Claiming to be able to produce $9.28bn worth of cannabis is a big claim for a startup company whose website was nothing but a placeholder as recently as August 2018.

Political involvement

According to a press release, Symtomax has recently hired the former State Secretary for Health and President of Portugal’s health regulator Infarmed, Dr Eurico Castro Alves, as director of Symtomax.

Whether the President of Portugal’s health regulator should be working for a pharmaceutical producer, given the potential conflict of interest issues is a question I will leave to the regulator.

For investors, the thing to remember is that legitimacy by association is not a substitute for due diligence.

The fact that a government official has joined the board does not make an investment paying 12-18% per year any less high risk.

https://www.google.ca/amp/s/bondreview.co.uk/2019/10/30/we-review-symtomaxs-bonds-paying-30-over-two-years-for-investing-in-cannabis/amp/


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