RE:RE:RE:RE:RE:RE:RE:RE:RE:Private Sale of Primo Shares@robinhat Primo is square with both BC securities and the CSE. Previous threads on the Primo board reflected comments towards that and explained about the audit.
I'm sure you missed that because the board is temporarily unavailable. Handing out shares of Marianna to Primo shareholders will enable us to become a reporting issuer.
Filing our prospectus and having it accepted by the exchange will then enable us to become a public company.
The dividends doled out to current Primo shareholders holding stock as of April 7th, 2021 makes us (Marianna) surpass the amount of shareholders a private company can have before they have to become a reporting issuer. That minimum is 50. No AGM is required to give out dividends. All directors need to consent and we did.
The board would have to allow a transfer and sale of securities of Marianna stock in order to do what you're suggesting and as CEO and one of the founding directors, I can assure you we would not do that. Our goal is to become a public company and create shareholder value.
By Primo giving out dividends creates shareholder value for both companies.
If there are any further questions I can be reached by email.
Thank-you,
Joel D.