RE:Next big play - Weekend UnlimitedA history lesson for those uninformed - there is a very distinct difference between a cannabis company and a company for cannabis. The business of creating companies, regardless of their eventual outcome, is what this team is about. Have a look at Stadnyk & Partners, specifically the team involved. Of which, Brayden Sutton was a listed member as recently as 3 months ago. One or more of these individuals have been involved with FIRE, TGIF, and CODE to name a few. Acquire a shell, fold back and crunch down the share structure, establish large holdings, finance through market the acquisition of a flavor of the month subsidiary, RTO, bring to public market and dispose of interests. Wash, rinse and repeat. Ultimate success of the company is irrelevant, some make it, most do not. Regardless, their profit is made in making companies not by companies making it. Very interesting to see Brayden no longer listed on this site, affiliated with this team. Anyways, maybe it's great, maybe not. Do your homework.
theTransporter wrote: Open Source Health Inc. Announces Letter of Intent Dated March 26, 2018 to Acquire Private Company Holding Cannabis Interests VANCOUVER, BRITISH COLUMBIA / TheNewswire / April 2, 2018 / Open Source Health Inc. (CSE:OSH) (Frankfurt:0OS) (the “Company”) wishes to announce that it is undertaking a change of business to focus on the cannabis sector, both in Canada and the United States. Subject to the approval of the Canadian Securities Exchange (the “Exchange”), the Company will acquire all of the shares of Weekend Unlimited Inc. (the “Weekend”), an arms-length private company, by the issue of common shares to be issued from treasury in exchange for all of common shares of the Weekend. (the “Transaction”).
Weekend Unlimited is a lifestyle brand built on the foundations of state of the art facilities, automated growing/extraction technologies and partnerships with high profile brands aimed at satisfying customers to the highest standard. The Company’s vision for expansion extends throughout North America and internationally, establishing an industry leading brand culture and reputation.
Besides holding approximately $12 million in cash at closing, the Weekend will hold the rights to acquire a Washington State licensed cannabis producer and manufacturer for the sum of US $1.5 million.
Weekend has also entered into an agreement dated March 10, 2018 to purchase a 600 acre organic hemp farm in northern British Columbia which is in the process of applying for a ACMPR application for a cultivation license. Weekend has agreed to issue approximately 38 million shares and fund the ACMPR application for this acquisition.
The Weekend also owns 10% of Jerome Baker Designs, one of the leading names in glass culture, with whom it intends to jointly promote products and events. The Weekend has the option to purchase up to 50% of that company and has the option to acquire the Canadian rights for products created by Jerome Baker Designs.
This transaction is considered a Fundamental Change under the policies of the Exchange. Trading in the shares of the Company will remain halted until the transaction is approved by the Exchange and shareholders of the Company. There is no assurance that this transaction will be approved.
For more information contact
George Tsafalas,
Director, 604-343-2977
Read more at https://www.stockhouse.com/news/press-releases/2018/04/02/open-source-health-inc-announces-letter-of-intent-dated-march-26-2018-to#HwjwOfbgXgsjtzLo.99