Post by
uptick on Aug 20, 2021 5:58pm
Solargram Deal - Get your numbers right
See the below from the audited financial statements. Only 30,000,000 shares will be issued to complete the transaction. This would be a solid move for the company to complete the transaction as it enhances value and provides a significant opportunity with respect to revenue and profit generation. The team at Solargram should be commended for the work that they've done. They will get this going, I have faith in that. Hopefully Jeff doesn't royally screw it up.
On May 8, 2019, the Company entered into an agreement to acquire Solargram Farms Corporation ("Solargram"), a Canadian controlled private corporation, having corporate offices in Moncton, NB. As consideration the Company will issue 30,000,000 shares upon acquisition which had a prerequisite of Solargram obtaining their Cannabis Grow License by Health Canada. On June 29, 2020, Solargram received their Cannabis Grow License from Health Canada, and this transaction is expected to close once security checks of all the Company’s insiders is completed. As at October 31, 2020 and subsequent, this transaction has not yet closed. On September 26, 2019, the Company completed the acquisition of over 5 million square feet of land for cannabis production and 30,000 square feet of buildings to commence the infrastructure buildout for Solargram’s Health Canada site evidence package as part of the final steps to obtaining an outdoor organic grow license. Subsequent to entering into the agreement with Solargram, a shareholder of Solargram became the Vice President of the Company.