I read this on Reddit - I own a little of CRFT, am gladHey guys - back with some DD on a new company (thanks to some players on the CSE forum) I've been following for the past few months -
BC CRAFT SUPPLY CO ($CRFT). The company was previously Pasha Brands, which was a trash pump and dump designed for an acquisition in 2019 (which fell through), and now they're rebuilding with some pretty amazing assets in hand. Take a look.
Full disclosure: I bought $5200 at 3.5c and 4c because I think it's going to rip. Already up 12.5% today. SUMMARY: There have been a bunch of companies that were raided by corporate pirates and robbed of the opportunity to win in the Canadian cannabis market in 2018/2019. We know the story - corporate and IR teams come in, do a pump and dump with existing assets and try to make an acquisition play. That’s what happened with CRFT. Their old CEO, Patrick Brauckmann did a P/D post IPO. Got it up to very high levels (didn’t raise at these levels) but rather sold off stock and the company crashed.
These guys are undergoing a re-org to re-position themselves away from Pasha Brands with a legitimate business model.
MY RATIONALE: - First off, there's massive IR exposure and a great story to tell to the markets – this will move the needle even before sales volumes as it's such a good story. They just acquired AVA Pathways, a mushrooms research company to add that to the investor story to play with $TRIP $MMED $CYBN and $CMPS.
- The company is broken out into 3 different decisions, with serious assets in play
- Cannabis in Canada (BC Craft Supply, Meddcann Health Products)
- Cannabis in the USA (Feel well Brands)
- Psychedelics in Canada (AVA Pathways) markets.
- They have licenses and facilities – ASSETS at the end of the day. Things that can be sold if needed. They're currently doing a $2m renovation on their facility in Chemainus, and that's only 1/4 assets, and the stock market cap is only $6M. So undervalued right now.
- Redemption story – CEO Matt Watters (previously CBD Therapeutics) coming back on board to right the ship. CFO Regan McGrath is also very bright. The management team looks solid and I vetted the major players with my network. Checks out.
- Social cause – BC Craft is a gateway for black market growers to get back into legal cannabis. There’s a lot here that nobody is talking about with regards to bridging the gap for the legacy market. Bringing the black market and making them be able to compete with the regular market is a huge advantage and will rally a lot of social support behind the company.
- Proven access to funding – they just did a raise – deep connections to industry.
- Stock at all-time lows ($0.045) – trading under asset value given what they've paid.
- Insider filings show all insiders with options and warrants at +10c. Many at 12c/20c/28c. They have an incentive to build the stock from these levels – 4/5c is extremely low in my opinion. All of my plays are like this – undervalued companies trying to get back on track.
- Already successfully launched Grizzlers pre-rolls into multiple markets with Alberta already live, and Ontario, Quebec orders confirmed.
- They have licenses and facilities – ASSETS at the end of the day. Things that can be sold if needed. They're currently doing a $2m renovation on their facility in Chemainus, and that's only 1/4 assets, and the stock market cap is only $6M. So undervalued right now.
Take a look at these guys - with a new team, a new board, and a new name - I honestly think this is a MAJOR opportunity, especially as the USA legalizes. Canada cannabis, USA cannabis and CBD, and Canada psychedelics. CRFT has it all!!