You know, after re-reading I see that they had been working on the terms and were planning on announcing it back in March 2020 but were delayed due to COVID-19. This deal obviously wouldn't happen unless our ex-Lehman Brother investment Banker CEO was part of the deal. Therefore, FinCann and INQD must have been working on the joint venture since ~ January, 2020 shortly after the GRN* deal fell through. This means INQD tapped Leslie to join the company around that time and he's had all this time to prepare the transition and layout a roadmap of developments which subsequently will lead to press releases.
Whats boiling my cookie is, did Fincann switch to INQD/Leslie because they pulled the plug on GRN*, or... did they pull the plug on GRN* because they discovered INQD/Leslie? I guess it doesnt matter as its such a confidence boost at how fast this Joint Venture deal was developed with us, they wasted no time, and im sure we will continue not to waste to have the business fully operational.
From the filing:
The Parties will jointly own the Joint Venture and establish a formal business plan and operational protocols to jointly market and pursue business. While the Company documented the terms early March, in light of the Novel COVID-19 and changes in management, formal confirmation of the arrangement was delayed till May 11, 2020. Fincann, not a bank, advises it is focused on providing banking related strategies or solutions for the canabis related industry through a growing consortium of financial institutions, to help marijuana-related businesses (MRBs) to access essential banking services without complicated workarounds. Further due diligence, efforts, are underway.
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