RE:RE:US Connection? Greenhouse conversation....Deal is dead and some to all fo the shareholder capital raised for the initial payment may be unrecoverble. Per June financials ...
9. INVESTMENT IN GR8 On January 31, 2017, the Company entered into a letter of intent (“LOI”) to acquire up to a 27.5% interest in GR8 Track, Inc. (“GR8”), a private corporation based in California, USA, licensed to produce cannabis for medical use. Pursuant to the terms of the agreement, the Company paid a deposit of $50,000 USD within 7 business days from execution of the LOI.
The definitive agreement was subject to a 60-day due diligence period and the Company completing a minimum financing of $500,000 CAD gross proceeds. As of the date of the filing of this report, the due diligence period has expired and the Company’s Management has decided to no longer pursue the acquisition. Management believes the Company will recover some of the US$50,000 deposit paid. If necessary, Management will record an impairment loss during the year ended December 31, 2017 upon reaching a termination agreement.
rcash1 wrote: Go back and look over the Cali LOI soon to be definitely deal and do some dd. There medically licensed and potential for large growth via greenhouse space(future ) + revenue already ;)