ROADMAN INVESTMENTS CORP. (Formerly URBAN SELECT CAPITAL CORP.) MANAGEMENT DISCUSSION & ANALYSIS
FOR THE NINE MONTHS ENDED MARCH 31, 2020 and 2019
OPERATIONAL HIGHLIGHTS
Champignon Brands Inc.
On August 15, 2019, the Company acquired 1,500,000 units (“Champignon Unit”) of Champignon Brands Inc. (“Champignon”) for $150,000 which represented approximately 5.6% of the issued and outstanding common shares of Champignon. Each Champignon Unit consists of one common share of Champignon and one-half share purchase warrant. One full warrant is exercisable at $0.15 per share until August 15, 2022. Champignon is a British Columbia- based craft mushroom distributor and product formulator entity. Investment in Champignon is held as part of the Company’s investment portfolio carried at fair value in the condensed interim consolidated statements of financial position. During the period ended March 31, 2020, the Company sold all of its common shares in Champignon Brands Inc. for gross proceeds of $200,000, resulting in a realized gain on sale of $50,000. Subsequent to period end, the Company exercised 300,000 of its 750,000 warrants into common shares and sold 62,000 common shares for gross proceeds of $48,360, resulting in a gain on sale of $39,060.