I suspect Costello will start “acquiring” some of the companies he recently set up to put into this company. In exchange for millions of shares where he gets a cut along the way. I’m thinking he is a bit like Adam Levin that hijacked High Times. Setting up new consulting companies that allowed him to take cuts in all the transactions and get paid hefty fees for continued consulting work. And setting valuations skyhigh for the companies being acquired. A real arrogant prick. Costello running around bragging about his hedge fund and all the money involved will pull in a number of believing MJ companies that want to think their businesses are worth multimillion of dollars. https://floridapolitics.com/archives/269356-marijuana-money-new-bank It already handles about $500 million in deposits for clients in the cannabis industry on the West Coast.
Costello, its chairman and CEO, was in Tallahassee last week to meet with state financial regulators “strictly as a courtesy.” (As a bank, his firm is federally chartered and not regulated by the state, he says.)
Let’s see how far he gets. Hopefully someone at FINRA doesn’t drop the ball and hand over a ticker and name change without some hoop jumping. Seen that happen one too many times and while it gives a temporary boost to the pump it never seems to last long before things go south.
I wonder when he was past president of Fastenal Europe the Netherlands. Mr. Costello is the past President at Fastenal Europe, The Netherlands (a subsidiary of Fastenal USA). Fastenal is an industrial and building materials company servicing the Middle East and European Union with clients such as The Department of Defense, Halliburton, Bechtel, Raytheon along with military and non-military global companies. Mr. Costello is a specialist in international supply chain management design and trade.
Huge company that basically sold nuts and bolts to all those big companies he named. Naming the companies give the bio that WOW factor even if he had little to do with getting any of those contracts. Probably took a brief spin at the president position for that division. Looking at Fastenal Europe on companies house I noticed a handful of directors and they were all from Wanoma Minnesota. Not surprising since that is where they are headquartered. https://www.fastenal.com/locations/details/MN100 probably all the college kids in that area took a spin through that company. I was looking for a history of officers for the Netherlands division and hadn’t found one yet. The CEO President of Fastenal - Daniel Florness - might be one to contact and ask. Although they are publicly traded maybe there is something in their filings. But that could take awhile if I don’t have the dates when he was there.
ZoomInfo has a few things worth following up on as well.
And looking into what some claims in articles like these should be investigated as well. I suspect much of the hyped up info came from Justin himself and not the published making it up.
https://www.respectmyregion.com/largest-deal-cannabis-history-washington/ I.e. Previous to cannabis, Justin Costello put his finance graduate degree to work internationally in Shanghai, Dubai, and Amsterdam. Finding success both abroad and domestically, the finance guru has always enjoyed “non-traditional” industries. Was that when he worked at Fastenal with his Harvard degree? Selling nuts and bolts and duct tape? “Mr. Costello is a graduate of the University of Minnesota in Public Business Administration and a graduate of the Harvard Business School.”
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