GREY:YSSCF - Post by User
Post by
DarrenYaToJumpon Mar 22, 2019 11:40am
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Post# 29523224
SOLO UPDATE
SOLO UPDATELicenses - Store Placement Strategy - Outstanding Shares
Currently, SOLO has 23 store license applications pending with the AGLC. This includes the 7 we know about (Stony Plain, Spruce Grove, Vegreville, Edmonton, Calgary, Vermilion, and Lloydminster) and does not include the Red Deer store (as it is an acquisition of an existing store).
So, once AGLC approves all licenses this year, SOLO will have 24 stores operational or closed to being operational by the end of this year.
Solo’s strategy for store location selection is based on targeting high-profile locations in regions where the population supports such a retail opportunity, and where the location can operate with optimal profitability. The Company has not specifically targeted any particular highway or roadway for its store locations, however has many of the first to be licensed along a stretch of Highway between Jasper, Alberta and Saskatoon, Saskatchewan.
Also, Solo’s current shares outstanding results from how the Company went public – by way of change of business from the previously public entity, Aldershot Resources. Capital structure is something that the board and management will continue to consider in the context of the broader business, and in future could potentially put a resolution to the shareholders for a vote regarding consolidation or some other corporate action designed to reduce share counts.