Replies to post #6368 on Fiore Cannabais Ltd. (FIORF)

[Isbizz]

There is being optimistic and then there is being flat out wrong since 2017!!! I will give you he is always prepared but is always wrong. He was buying and pumping this stock when it was trading for 40 cents and that’s pre split!!

[LongNDeep2]

Changes to Citation Growth after ACC deal.

Dear LongNDeep2,

Can you please describe changes after the company became Citation Growth Corp.?

We now have 36,000 sf of cultivation and production facilities operational in Nevada....instead of 10,000 sf. That is a tripling of current operational facilities...in the best cannabis market. Citation has additional sales connections and experience acquired through ACC. Citation now has 569,000 sf of cannabis cultivation and production licenses in Nevada....one of the largest in the state. That doubles our license capacity in Nevada. The articles of Agreement explain the whole ACC deal in much better details....listed on SEDAR. There are too many to list all the changes here...but I have listed some of the highlights.

How the management has changed and what does it mean for the company?

Howard is now CEO...in charge of US operations. Rahim is now President and in charge of Canadian operations. Howard has cannabis production and sales experience in Nevada...a must for survival in the Nevada cannabis industry. Howard was operating ACC revenue positive...a much needed skill set in the industry. Howard also reduced the number of executives.

What experience did Citation group bring to the company?

I think you meant ACC. American Cannabis Cultivars has been operational in Nevada since 2014. They bring 5 years of on the ground experience...cultivating many strains of cannabis..and bringing it to the market in Nevada. They also bring 3 new brands into the equation. Gardens of Weeden...Superior...and BLUNTBOX. They were also revenue positive.

What possible harvest can be available for the company from the property that belonged to members of Citation group?

ACC harvests cannabis every 3 days from the 26,000 sf facility in Pahrump. Expansion would add another 30,000 sf of organic cannabis cultivation. The Pahrump facility has been changed to grow organic cannabis for better margins and cleaner healthier products. Currently awaiting organic certification.

ACC has no production licenses...so production is done at the Apex facilities in N Las Vegas. All trim...shake...and popcorn buds are processed into extract products for much higher margins.

In detail if possible.
You are the only person who knows details, however, since you are always optimistic, some members of the board put you under suspicion.

It should be noted....those that make outrageous claims about me......are the very ones....that won't post how many shares they have...but will post false information....but won't post facts to back up claims about the company. As a long...I am optimistic....we just started getting revenues...and still don't have a full Q of revenues...because ACC came on board Aug 2....so that was only two months of ACC contributed revenues...for the current Q. We also are just commencing sales of the extract products.

I am not the only one that knows details....but am willing to do the DD to get factual details. There are too many people spreading false info...without proof....just to bring prices down. Day traders don't like optimism....because it interferes with day trading routines...and strategies. I am not a day trader...I don't cater to day traders. They are free to make their own trading decisions. I am a long and will be here to see the company grow into it's licenses. I have...for a couple years stated my position and number of shares. Those that won't post there position and shares......have no reason to be suspicious of me....quite the opposite.


Apex, North Las Vegas

The Company, through Marapharm Las Vegas (“MLV”), holds 6 state approved licenses, which include two medical cultivation, two recreational cultivation, one medical production and one recreational production licenses.

MLV’s two 5,000 sq. ft. facilities located on its 7.1 acres of property at the Apex Business Park in North las Vegas, Nevada are now fully operational. The facilities currently produce an average of 561 kilograms annually and annual full capacity is at 726 kilograms. The licenses are approved to expand to up to approximately 300,000 sq. ft. of both cultivation and production facilities. Citation commenced commercial wholesale sales of recreational cannabis in May 2019. The Company’s products include triple certified organic premium flower and pre-rolls. MLV’s production facility, which allows for extraction and processing of concentrates, is also now fully operational. The average selling price of organic buds was $8.89 per gram, with prices ranging from $7.88 to $9.46 per gram and the average selling of price pre-rolls is $6.22, with prices ranging from $5.30 to $6.62 per pre-roll. See pricing of newly launched live resin and vape pens below.

All premium cannabis is certified as organically grown from EnvirOganic, Certified Kind and Clean Green. The certifications provide verification that the Company meets or exceeds NOP (National Organic Program) standards for cultivation and that it is using only OMRI, WSDA or CDFA certified inputs, is following social justice directives and has accurate and complete record keeping practices.

Product

The Company launched its new premium line of cannabis and will commence distribution of live resin and distillate vape pens to dispensaries in the last week of November. These exclusive blends are derived from exquisite sources like triple certified Fiore to produce specific products like diamonds live resin, sugar wax and live resin vape pen formulations.

Vape Pen wholesale prices for Citations premium products are as follows:


Diamante Labs Live Resin Disposable Vape Pen

Diamante Labs Live Resin cartridge

Superior Extracts distillate Disposable Vape Pen

Superior Extracts distillate cartridge

0.30 grams per pen US$22.00 0.50 grams US$35.00 each 0.30 grams US$13.00 per pen 0.50 grams US$22.00 each

Superior Brand will be mostly distillate to start and Diamante Labs Vape Pen will be mostly live resin to start. Citation will begin to diversify its product lines in the upcoming months to offer its customers a wide range of premium quality extracts. The Company’s focus will be on its triple certified organic Diamante Labs products that are healthier for the end user.

Both brands are manufactured from the Company's cannabis biomass at its now fully functional North Las Vegas Apex production facility using ACC’s product. Diamante Labs was founded on the determination to formulate high quality extracts by using closed loop hydrocarbon processes.



Pahrump, Las Vegas

On August 2, 2019, the Company completed the acquisition of ACC C Corp. (“ACC”). See “Acquisition of ACC” below.

ACC is currently converting its 26,500 sq. ft. facility into a certified organic facility. ACC found it necessary to switch completely to organic to provide its buyers and consumers with the best quality products with no chemicals, herbicides and/or pesticides. This would give the Company the opportunity to realize higher margins on its products. The facility is now ready for inspection to become certified. The average selling price of ACC’s buds is $5.89 per gram, with prices ranging from $4.38 to $7.31 per gram and the average selling price pre-rolls is $4.50, with prices ranging from $3.97 to $6.62 per pre-roll. See pricing of newly launched live resin and vape pens above.

ACC’s facility currently produces an average of 1,564 kilograms annually and annual full capacity is at 3,592 kilograms. Upon full build out of Pahrump 2 (15,000 square ft.) and Pahrump 3 (8,500 sq. ft) facilities, ACC would be producing an aggregate of approximately 6,000 kilograms per year across 50,000 square feet of grow. ACC’s licenses are approved to expand to up to approximately 569,600 square feet of cultivation facilities.

Acquisition of ACC

On August 2, 2019, the Company completed the acquisition of ACC in exchange for 35,000,000 common shares and 11,500,000 warrants of the Company. Each warrant is exercisable at $2.50 per share until August 2, 2021, subject to acceleration if the volume weighted average price of the Company’s shares is greater than $3.50 per share for a period of 10 consecutive trading days. The Company issued an aggregate of 3,250,000 common shares as finders’ fees in connection with the acquisition. Of the 35,000,000 share consideration, 12,399,310 shares were deposited into escrow and will be released over a period of three years.

Additionally, subject to the policies of the CSE and applicable securities legislation, the Company and ACC will implement a management incentive plan allowing for the issuance of up to US$10 million in common shares based on the achievement of certain performance milestones for each of the Company’s Canadian and US operations.

On closing of the acquisition, Howard Misle, ACC’s CEO, was appointed CEO and a director of the Company and Rahim Mohamed, former CEO of Citation, was appointed President of the Company.

The Company believes that the acquisition of ACC will reaffirm Citation's continuing corporate growth strategy to become a leading multi-state operator of cannabis cultivation and production assets across the United States and Canada, as legislation and regulations may permit. Citation also believes that it will have completed a key strategic alignment in the State of Nevada, providing the launchpad to become a dominant cultivator and distributor of premium cannabis products to the State's vibrant medical and recreational markets. The Company further anticipates that the integration of ACC's innovative agronomic ability and cannabis marketing infrastructure will help bolster Citation's considerable triple-organic-certified cannabis cultivation and production experience.



Hope that helps.



GLTA



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