RE:RE:Well well.. I
suspect that by now the $ 250,000 that was available is gone and we will hear next week that the PP is fully subscribed.
Remember the
Alumina Partners Draw Down Equity announced on October 13
th where to date there have only been
two tranches for $ 50,000 each, which leaves pretty much the $ 6 mil available.
I posted
a few important points IMO about the Alumina Partners draw-down equity on Oct 18
th and stated at that time that “I believe this agreement is very positive for the future of NSP”.
I believe even more so now!
:) This $1.75 mil PP provides working capital and facilitates the expansion of the Pitt Meadows Facility to accommodate the relocation of Prosnack operations which should provide close to $300k in gross savings per annum according to Dave Eto. Gotta like that!
Dave Eto goes on to say “As NSE identifies suitable acquisitions, we will continue to replicate this process and combine synergies to reduce overheads and increase net revenues”.
So NSP is looking for/has identified further targets for acquisition and the Alumina arrangement is there
IF/when needed. In the meantime this current PP allows the company to “take care of business”. Gotta like that as well!
BK, I couldn’t agree more with
your statement “It's slowly but surely taking place, NSP is going to become a significant international player.”
*****
“
Living in the sunshine”
Always DYODD
DKM
dontknowmuch wrote: BlazzingK wrote: Here comes the funds we needed. I was thinking they would do so with all the interest in the MJ industry. If I read this appropriately, it means, 1M has already been bought and 500k is left for retail investors to buy in? That's excellent, where do I sign ? :)
Hey “Blazzing K”,
The news release states:
The Company is pleased to advise that $1,000,000 CDN of the private placement
has been subscribed to by funds managed by Goodman and Company Investment Counsel Inc., a wholly-owned subsidiary of Dundee Corporation
and $500,000 CDN through retail investors
. Naturally Splendid
may increase the size of the private placement to up to $1.75 million,
***** Checked with IR
first thing this morning and only the possible increase of $ 250,000 was available to retail
when I called, might be gone by now. BK, hope you moved on it.
:) ***** “
Living in the sunshine”
Always DYODD
DKM