GREY:MRRCF - Post by User
Post by
StockDoctaon Dec 16, 2017 2:31pm
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Post# 27171668
Ben Ward
Ben WardJust recently discovered the various Reddit weed stocks forums, specifically the Maricann board, and many of the posters have a very unfavourable view of Ben Ward. Specifically for not disclosing the greenhouse damage during the RTO as well as the fact that he was CEO of Canada Cannabis Corp (ccan), which tried to buy hydropothecary (thcx) in 2015. At that time CCAN was a 2.75 stock, but the price of the stock fell and the deal (which was largely share based) fell through. Some on the reddit boards also state that e shareholders of ccan were never notified of anything and the deal just went away and the stock just continued to plummet and no one said a thing. On Nov. 29 CCAN was a 0.12 cent stock and has skyrocketed 300% to 0.44 in the last 2 weeks. Trying to find any info on CCAN is impossible as they don't even have a website, but there was chatter that Ben is still CFO of CCAN. Anyone have any idea about this?
Theres all sorts of other rumblings about bad mining businesses and connections he's had over the years but the web is too confusing to sort through (especially for someone who doesn't know a single thing about the mining industry).
I am am mostly just trying to wrap my head around this private placement of $40 mil at a share price of 2.00 the day after it closed at 2.33. I just can't figure it out. I sold 7K shares on Friday to buy the hype on MYM and BE but still own 15K shares of Mari.
If good news is expected within the next few weeks about Germany, why didn't they wait to do the PP? Or if they didn't want to wait, why do the PP at such a steep discount? What do they need 40 million dollars so fast for? They just closed 31 million in convertible debentures that was supposed to fund phase 2, which broke ground last week. Something just seems off and doesn't add up, which sickens me because I expected 50% gains by the end of January with Germany, McKesson, and phase 1 completion, given how undervalued this stock is. It seems that big investors may still not believe in management and I am losing a bit of faith too. Someone please tell me otherwise. Kinda wanna buy some CCAN in case someone's on the inside track and it's somehow connected to Mari.
PS If anyone's response regarding the PP is that they need to be done at a discount check out terascend. They announced 52 mil in financing at 1.10 when they were 0.91 cents stock on Nov 15th. Came from Canopy and others. Sent the stock into orbit. PP closed Dec.11 and terascend is now a 3.00 stock. It's actually mind blowing. Especially considering the PP dilluted existing shares by almost 50%, not even counting the warrants. Crazy. Seriously cheap paper when those things become free trading.