C21 Investments Inc CXXIF

M&A

[SecondLast]

Do you think they will target mostly individual private storefronts/production or do you guys think something like HBOR or VEXT fits their mold? Both have equally established brands in different markets, with wholesale production as well.

[MuttleyKnows]

They won't be looking for brands and wholesale production. They have these capabilities already via their existing vertically integrated platform. What they will targeting most logically are retail outlets so they can stuff these stores with self grown, self processed and self branded products. This will make the most margin for every dollar of revenue generated. Also I expect the first

[SecondLast]

I was thinking expanding more geographically where you do need wholesale production because product cant cross borders. Growth within Nevada definitely makes sense if theyre looking to become a more attractive takeout target. Plus you're right their wholsale production can definitely support more store fronts especially after the expansion. They definitely have demonstrated a solid ability to

[MuttleyKnows]

Step by step I would expect. Northern Nevada first around Reno and then Las Vegas. For Las Vegas it would be off strip servicing the local market. Their aim should become a leading player in the Nevada market. This will make them a takeover target and give the SP a higher valuation multiple.  After Nevada then we can start talking about other states in the second half of 2021 or 2022.