RE:RE:RE:RE:RE:US Connection? Greenhouse conversation....Liberty Leaf Holdings Ltd. (formerly Weststar Resources Corp.) Notes to the Condensed Interim Financial Statements For the Six Months Ended June 30, 2017
(Unaudited - Expressed in Canadian Dollars) 9 8. DEPOSIT On March 1, 2017,
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.
Interpolation2 wrote: That is straight off of their June financial statements ... notes section. go to sedar.com The real question for you to ask is why was this not formally disclosed to shareholders through a news release? rcash1 wrote: Sh@t... Where did you find that release ? I talked to the company after the dd period was over and they said they were going ahead with a definitive agreement . Going to have to call again Monday morning... I assumed this would be a similar scenario to the North road LOI... I'll report back to the board after I speak with someone from the company to confirm what happened .