So What Is The 60 Million For?The company PR says the following:
"Net proceeds from the Offering will be used primarily towards the Company's strategic growth initiatives including continued domestic and international expansion, and for general working capital purposes."
So, the company is basically saying nothing. They are saying we raised the money, and we will spend it where we see fit. I know this company, nor any company, is a democracy but it is a little soft to raise all that money, when they already have a huge pile of money in the bank, to be saying little. I expect some aquisition to be coming soon, since surely they know what they are going to invest in.
ACB is a grower/producer of pot, that is what I invested in, and from that it's pot will be sold directly and processed into oils and some other products. I don't like to see the company venturing into other things that are not a part of it's core business. Pot carriers, that might attract a law suit, really, this is not their business. This idea that ACB will open it's own stores to sell pot is really stretching the company core compentancies, and I really do not like it, but I could be wrong.
Canopy is also in the running for two licences in Germany to build grow ops in Germany and my expectation is that both Canopy and Aurora will be granted licences, but we will not know for another few months.
ACB is actually located in Vancouver. How is it that management did not think that they should grow in the warm valley there. The warmest part of Canada. Instead they went for Edmonton, a place like Siberia for 6 months of the year. Maybe not the best location, but so be it. Canopy has filled the gap their and got a stong foothold in the valley and will have about 2 million spft of production. ACB missed that.
Every company is going to make mistakes and so you have to trust in managment, and that trust is based on some very soft things. So far they have performed well, but they are not gods and they are not Jesus and Booth is not the messiah. We should question what they do here, on this forum, and at AG Meetings, to keep them honest, and let them realize that there are a lot of people out here who have put a lot of money and trust into this company based on the company story and the companies history, and that they, the managment, never get a rest from that.
The comment made to me that I should not criticize this company on this board is just silly, who wants group think. Who wants Systematic Bias, look it up. This is how powerful people and forces move from good decisions making into wrong decision making, if they are surrounded by sycophants. Be a questioning investor....