Promotional information on Speakeasy, a BC "roll-up" stock
No pun intended here. But a "roll-up" for those who don't know is a company that teams up with other private companies to become large enough to be listed and to grow. Many of the leaders in this space are "roll-ups" which have the advantage of growing very fast but if not executing properly can crash very hard.
The above is a promotional information which I've found to help people fact-check this company.
What I'd like to understand what "holding" of 290 acres means. Do they own it or just have some type of finite use agreement? This could be seen as misleading if they don't "own" the land so beware. Owning 290 acres in BC's Wine Country and being worth just $29M does not make sense.
Video Transcript:
"I’m Samantha Deutscher for Investmentpitch Media
SpeakEasy Cannabis Club Ltd. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “EASY”, following a change of business, having previously traded as Hadley Mining.
SpeakEasy is a late stage ACMPR applicant that is leveraging three generations of farming experience and the largest land package of any Licensed Producer in Canada.
The company holds 290 acres of the best agricultural land in British Columbia’s Southern Boundary Country region, known as the Napa Valley of weed country.
The company is headed by President and CEO Marc Geen, a 4th-generation BC farmer.
Marc Geen has been active in the legal medical marijuana industry for more than 10 years, consulting, complying with, and participating in the MMAR, MMPR, and ACMPR programs.
Prior to co-founding Speakeasy Cannabis Club, Marc spent 14 years as Head of Operations for Kettle Mountain Ginseng Ltd, one of North Americas largest ginseng producers.
Based on his experience gleaned from a long career in large scale commercial farming, Mr. Geen has been able to apply many cost effective, good farming practices to the outdoor, indoor, and greenhouse cultivation of cannabis.
He is also the co-creator of a full line of cannabis extract products designed under ACMPR regulations.
The company is disrupting the cultivation model by aggregating British Columbia’s best craft growers under one umbrella to produce the highest quality cannabis targeted at the highly sought after millennial recreational market.
SpeakEasy has submitted its extensive evidence package to Health Canada for its current 10,000 square feet facility and has commenced construction on its 80,000 square feet expansion facility, which will include growing, extraction and genetics labs that will be capable of producing more than 10,000 kilograms annually.
The company has raised gross proceeds of approximately $11.3 million from a non-brokered private placement of 22.5 million units priced at $0.50 per unit.
Each unit consisted of 1 share and one-half a warrant, with each warrant exercisable at $1.00 until November 6, 2018, subject to an acceleration clause.
The shares are trading at $0.67.
For more information, please visit the company’s website at www.speakeasygrowers.com,
contact Marc Geen, President and CEO, at 604-283-1722, or by email at investor@speakeasygrowers.com
I’m Samantha Deutscher for Investmentpitch Media"