very nice future, we can only hope that things begin to unfold for zenabis at some point. It is beyond great that there is such positive/large support from the community and its political officals to get the facility up and running.
The plant in atholville and the deal with IHMML was the sole reason MDCN was trading from $1.50-$4.15(peak) pps with an O/S of ~40 million back in March-May 2014. I actually took my first stake in MDCN back in May 2014 if you can believe that.
Just to throw some math in here for the pps above, Market cap wise that is $60,000,000-$166,000,000. Put that in to today's O/S (~900 million) terms and you get a pps range of $.06-$.184 . I think this is a realistic conservative price target from where we are today. If this particular deal was actually consummated in the future, the sky is the limit. That trading pps was on anticipation of the business plan.
I believe that the Zenabis deal is a fairly long ways off still, possibly 2016, if they ever receive Health Canada approval. Government bs is just really slow..hence Mr. Valcourt's statement about political interference. However, the key note for the petition is the overwhelming support of the community. Hopefully this lights a fire under someones a$$.
"As MP for Madawaska-Restigouche, it is my duty and my responsibility to convey to the House of Commons the will of my constituents, particularly vis-à-vis the project. But, as I have always said, there is a process in place that prevents political interference and this process must be respected. But once it has run its course, that is where this (petition) becomes important. Because it shows that here, unlike other places in the country, there is a strong public support for this project, "said the Minister."
Whats more possible for the time being is what Malvern mentioned with TWYNs and the new Canada MMJ law. Can we just fast forward a few months? :)
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