GREY:MYMMF - Post by User
Comment by
WeeblesWobbleon Jan 16, 2019 5:13pm
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Post# 29242260
RE:way more work then I anticipated... lol
RE:way more work then I anticipated... lolI'm finding out what you mean by lots of work.
In the interest of comparing apples to apples, I started with HC website of licensed producers/cultivators which can be date sorted newest to oldest. I'm at Jan. 2018 and have only found one company that was a reporting issuer prior to license being issued. Aqualitas Inc. received its license on 19-Jan-2018. Offering Memorandum dated 18-Jul-2016 states:
"Aqualitas Inc. filed its application with Health Canada on March 7, 2015 and it is currently in the advanced stages of the application process. The Company went into security screening on March 22, 2016 and we were advised by Health Canada that the time required to process applicants at this stage varies, but we could expect our process to take a few months. If this timeline is correct, we anticipate being in the review stage by July, 2016. Approximately 75% of applications are rejected or withdrawn prior to reaching the security review stage, and only approximately 12% of all applicants to date have reached this stage. No licenses have been yet granted in Nova Scotia. Nova Scotia has the 2nd highest per capita enrollment for medical cannabis, and the highest percentage of any province for non-medical cannabis consumption."
I thought the excerpt was enlightening in terms of HC time frames back in 2016. From the start of security screening to license issue date was approx. 22 months.
IMO, Aqualitas is comparable to MYM because it was a reporting issuer during the advanced application process. None of the other companies who received licenses during 2018 were TSX listed on the date licenses were issued. Many became reporting issuers and/or TSX listed after license issuance. I plan to keep looking for more MYM comparables.