Some DD folks.... The financing was oversubscribed, my order was partially filled. If insiders are putting up 7 mill then Canaccord has to go back to original subscribers, get sign off and fill our orders, that means the deal's upsized. Likely reason for delay.
Explanation I got why they downsized the deal was they received straight debt vendor finance at a lower rate than Canaccord deal, so chose to mix and match to blend the interest rate lower.
Canaccord, Industrial Alliance, Sprott, how many more institutions could participate? Who else do you see Industrial Alliance or Sprott backing? They do deep due dil and wouldn't put a deal out with their names on it if they didn't like what they saw under the hood.
Main reason they didn't have a mass sell-off after that lawyered up disclosure doc they called a press release yesterday is because institutions own most of it. That release was inexcusable. Who puts that out?
Call the company, ask for a presentation, ask to talk to Management, I did. Read the financials, look at the valuations used in analysts reports and make your decision.
If there's one complaint I have - they need to aggressively promote this company more... no one knows the story.
Change the CEO? Good luck, best investor presentation at a conference I've ever seen. Fact based, to the point and knows the industry.
Read the financials. Since he came on, eliminated 12 mill of debt to directors and bank, started one of the largest expansion projects in Canada that will finish before most of the other majors, run by the best facility builder in the industry. Brought in growers with massive yields, Germany, tech for products that will actually work so you can build brands, not just slap some packaging on and hope it sells, JuJu deal and biggest pharmacy group in the country.
Successful directors who haven't sold a share don't double down for more unless they like what they see. Happy they'll be filling my order and will sit back and wait for this one to 5X