They haven't secured that $10,000,000 yet and likely won't based on them now having shut down one of their dispensaries in Nevada. The PR clearly states they didn't close on the $30M private placement, $10M of which Schottenstein committed to based on securing the other $20M.
Furthermore, based on current share price, any additional capital raise would dilute the company to the tune of 100,000,000s of shares. Reverse split will then be inevitable.
"The Company has received a commitment from All Js Greenspace to subscribe for US$10 million, in the aggregate, of the proposed US$30 million Private Placement. It is anticipated that the Gross Proceeds of the Private Placement will be available to the Company upon the achievement of certain financial and operating milestones. The subscription price for Common Shares under the Private Placement will be the greater of (i) a 10% discount to the then market price of the Common Shares on the CSE on the trading day immediately prior to the date of issuance and (ii) a 10% discount to the volume weighted average trading price of Common Shares on the CSE for the ten trading days immediately prior to the date of issuance (in each case, the "Common Share Subscription Price"). The subscription price per PV Share will be equal to the Common Share Subscription Price multiplied by 500 (five hundred)."
News 
Market Data 
Discover 
AI
