AYR announced an overnight marketing of 4,000,000 subordinate voting shares at C$34.25 (or $26.95 USD) today. Deal is expected to close on or around 01/14. AYR has given underwriters (Canaccord Genuity) a 30 day option to acquire up to 15% more (or 600,000 shares).
Offering is pursuant to a prospectus supplement to the Company's base shelf prospectus dated 12/17/20, offering in all CA provinces other than Quebec (and in the US on a private placement basis for "qualified institutional buyers.)
AYRWF at $26.95 values LHSIF at $1 per share. AYRF at $35 = $1.28 per LHSIF share and at $40, renders each share of LHSIF at roughly $1.47.
The 387 acre parcel that is the 360 campus in Gainesville, combined with a completed state of the art 20,000 sq/ft greenhouse (houses the new SJG strains), a brand new ethanol extraction lab rendering 100kgs of daily biomass, a DOH approved and completed tissue culture lab, and a completed commercial kitchen for edibles, with literally at least another 100 acres of developmental capacity...is worth more than $1/share. It was worth more than $1.50/share prior to the recent political results.
Somehow, the state of FL's DOH has approved construction for 6 new indoor Grow Pods, has approved all of the aforementioned dry rooms, ethanol extraction facility, but has literally sat on approval of the commercial kitchen that was completed in late August/early September???
I am grateful that Sandelman and AYR have miraculously "found" us, and I truly do appreciate the appreciation of my share value. However, as I have often stated, even prior to the election results, Liberty was worth a minimum of $1.50/share. If AYRWF would somehow reach $40-45 share before the vote, then I would be satisfied. As the deal stands, all things considered, it is still a low ball offer. Congrats to AYR if they pull it off, hats off to them. I actually think there could be a premium to be had in holding AYRWF long term, as my research thus far, has led me to all positive doings. My point is that the offer is low, the circumstances and timing are suspect as well. This is not an emotional assertion. It is not greed. It is purely my humble opinion and assessment of the true value of Liberty as she stands today.
