BullRun and Kulwant MalhiBullrun and Kulwant Malhi related entities summary
I am an an investor and have invested in BullRun deals starting from their first entry into the markets with Raytec Metals and Potash in Saskatchewn in 2008. I have done extremely well with these deals until 2019 onwards, but there is a reason.
In November 2018, Kulwant Malhi was walking on a farm road near his residence at 7AM. No sidewalks etc. He was struck from behind by a vehicle an suffered severe injuries. He spent most of 2019 in the hospital with surgeries and sepsis infections and barely survived and most of 2020 in a wheelchair. During these years he stepped away from the markets and all businesses and left all public market related companies to be run by management in place for each company. Below is a summary of what Bullrun and Kulwant Malhi have done since 2016 and my understanding. As I stated I am close to this group and have made money with them except the last three years.
2014- Bullrun founded Cannabix Technologies and funded the company starting at $.07 a share. Many of the investors at the start up stage were RCMP officers who bought the $.07 placement. The stock has since had a high of over $3 and a market cap of over $400M when marijuana stocks were flying and early investors did very well including my book. Since then the marijuana stock prices have come down and C.BLO is no different from other mj stocks. The company is well funded with close to $9M in cash and is working to get court certified marijuana device to market. Historical price chart is here https://www.stockwatch.com/Chart/Advanced/C/BLO/10
2016-BullRun founded Patriot One Technologies Inc and funded the first few raises at $.07- $.15 within the BullRun community and RCMP officers. Then Cannacord was brought in, credible management placed, a funding RTO done and the company was taken public. Once the company was public, BullRun was just a shareholder and allowed company management to run the deal and they did a great job and Cannacord supported the deal and raised it over $80M. The company uplisted to the TSX main board and is currently commercializing its technology. Bullrun has been just a shareholder since its listing and has no management input on the deal Early investors, mostly RCMP officers and the Bullrun group have done extremely well on this investment as it has had a high market cap of close to $500M
2018- BullRun founded Algernon Pharmaceuticals and funded the company privately for a year and then took it public via an RTO with Breathtec Biomedical. BullRun then helped fund Algernon at start up valuation with Bullrun and associated investors and placed credible management into the company. After that BullRun was just a shareholder and Chris Moreau has been running the company. He has delivered value for shareholdes who had an opportunity to monetize their holdings at $.50.70 cents per share during the Covid run up in stocks in 2020 when AGN traded over 1B shares. AGN hit high of over $.90 per share when covid stocks ran in 2020.
https://www.stockwatch.com/Chart/Advanced/C/AGN/10 AGN stock has slid down as have all covid related stocks and Chris Moreau is restructuring AGN with a plan to uplist to the Nasdaq. BullRun and Malhi are no longer involved with AGN in any way.
First Responder Technologies was incubated in 2018 by BullRun and an IPO was undertaken and close to $7M was raised. The company was handed over to Stockwell Day as Chaiman and Robert Delamar as CEO. With Malhi’s accident and stepping away from the business, Delamar and Day depleted the company treasury within 18 months, ran a $2M deficit and then tried to
acquire a start up company called Airbeam at a $250M valuation. “Subject to adjustment as described in the amalgamation agreement, it is intended that First Responder shares will be issued to holders of Airbeam shares on the basis of 9.78 First Responder shares for every one Airbeam share, resulting in the issuance of 679,699,408 First Responder shares to the shareholders of Airbeam. “ https://www.stockwatch.com/News/Item/Z-C!WPN-3042592/C/WPN BullRun and related entities that held a big stock position in First Responder did not support the deal and halted it and issued a NR against the deal
https://www.stockwatch.com/News/Item/Z-C!WPN-3043832/C/WPN The deal fell apart and Airbeam has been unable to announce any meaningful advancements to their technology since that time.
OnMarch 30,2021, Delamar and Stockwwell Day resigned, leaving the company $2M in debt with zero value of technology developed and Kulwant Malhi assumed the CEO position
https://www.stockwatch.com/News/Search?C:WPN&wire=0&symbolchanges=Y Sine then Malhi has been restructuring the company and has plans to take the company into a new venture with new funding. It will require a hard roll back to make the company fundable
Growmax Resources…Malhi took this over in 2018 and in 2019 Growmax paid a $.03 return of capital to shareholders. With Malhi's accident he was absent from Growmax for 2019 and 2020 and Michael Malana and Michael Sadhra were left in charge. They were unable to obtain any exchange approvals for a COB and the company lingered until early 2021 when Malhi came back and got the company approved and trading again. Since then the company has changed its name to Coloured Ties Capital and rebranded itself and made some great investments. Tie has close to $22M in liquid asstes, at $.92 per share NAV and is just beginning to make great investments that are only available to acreddited investors. https://www.colouredtiescapital.com
Beyond Medical is a company that makes medical grade face masks and it's stock price has slid off hard during the last three years as have all covid technology stocks. Since his return, Malhi has been seeking to rebrand DOCT and the company has conserved cash and has approx $1.7M and contniues to look at acquiring technologies in investor friendly sectors
Overall, I am frustrated at the last three years as well other shareholders, but above is a summary of what has transpired. Malhi has returned to the capital markets as of mid 2021 and is working to clean up the deals that have been left behind in First Responder, Coloured Ties,Beyond Medical. Please do your own DD before investing