More information for potential investors in EASY
1. It appears the 290 acres is now part of the company. That's my area of focus at this point, the land and 12,000 sq.ft. facility. Which makes the valuation of this company very attracitive given the issues shares but one needs to look at the entire capital structure including what the fully dilluted number of shares are.
A fair amount of scrutiny is required here since shares currently in escrow and "locked up" have the potential of having a big impact.
Some initial questions:
1. who the "finder" is? Who is behind 1141582 B.C. Ltd.?
2. What are the various lock up dates, especially in regards to the non-brokered financing of November.
https://markets.businessinsider.com/news/stocks/hadley-oversubscribes-on-non-brokered-financing-of-$11-271-675-00-and-proceeds-with-execution-of-formal-property-purchase-agreement-relating-to-speakeasy-552218
Very interesting the stock spiked above $1 in recent months so the "marijuana" angle has been in the works for some time so the charts would be "valid" unlike my previous post before I did much research.
And one should note there are Geen and Jackson as the two big insiders here.
Marc Geen, the CEO appears to be an experienced grower.
Anthony Jackson, the CFO appears to have a lot of experience with capital markets
https://www.bloomberg.com/research/stocks/people/person.asp?personId=36252442&privcapId=129339195
Sorry for the bad copy and paste here.
Summary of Material Change
The Company
completed on March 26, 2018 its previously announced acquisition of
10161233 Canada Ltd. (the “
Target
”), a private c
ompany holding an application for a
license under
Access to Cannabis for Medical Purposes Regulations
(Canada)
(“
ACMPR
”). The Company completed on March 27, 2018 the purchase of the 290
acre property to which ACMPR license application relates (the “
Propert
y
”). On April
3, 2018, the Company changed its name to “Spea
keasy Cannabis Club Ltd.
”
Item 5
Full Description of Material Change
The Company has completed its previously announced acquisition of
the Target (the
“
Acquisition
”) as well as the purchase of the
Property
. The
Company acquired all of
the issued and outstanding securities o
f the Target
in consideration of the issuance of
12,000,000 common shares of the Company (the “
Payment Shares
”). The Target is
now a wholly owned subsidiary of the Company. 8,000,000 of the Payment Shares
are subject to escrow pursuant to the policies of t
he CSE and will be released from
escrow based on the passage of time, such that 10% of the securities were released on
closing and the balance will be released in six equal tranches of 15% every six months
thereafter.
The Target holds an application for a license under the ACMPR which has
successfully advanced past the review stage and is currently in the issuance of
license to produce stage of the licencing process.
When the application is approved by Health Canada and a license to cultivate is
granted, the Company will issue a further 6,000,000 shares to Marc Geen, one of the
vendors of the Target, and 500,000 shares to Anthony Jackson. Additionally, when
the sales license is granted by Health Canada the Company will issue 4,000,0
00
shares to Marc Geen and 500,000 shares to Anthony Jackson.
The Target’s fully built 12,000 square foot facility is located on 290 acres in the
Agricultural Land Reserve in Rock Creek, British Columbia, which Property was also
acquired by the Company, indirectly through t
he Target, in consideration of the
payment of $2,000,000 in cash to a private entity previously affiliated with the Target.
Upon the completion of the closing of the Acquisition, the Company issued 1,000,000
common shares to 1141582 B.C. Ltd. (the “
Finde
r
”) pursuant to a finder’s fee
agreement dated July 4, 2017 entered into in association with the Acquisition. These
shares are subject to a hold period under securities laws ending on July 27, 2018.
Additionally, the Finder is entitled to a further 1,000,0
00 common shares upon the
granting of a license to cultivate to the Target and a further and final 1,000,000
common shares upon the granting of a license to sell to the Target.
The Company change
d its name from Hadley Mining Inc. to “Speakeasy Cannabi
s
Club Ltd.”
on April 3, 2018.
The Company expects to commence trading on the Canadian Securities Exchange
(“
CSE
”) on April 4, 2018 under the symbol “EASY”.
Details of the Acquisition and related purchase of the Property are contained in the
Company’s
listing statement dated March 28
, 2018 which has
be
en
filed on the
Company’s profile on www.sedar.com and the website of the CSE at
www.thecse.com.
Following the completion of the Acquisition, Quinn Field
-Dyte resigned as President
and Chief Executive Of
ficer of the Company and as director, Von Torres resigned as
Chief Financial Officer of the Company and as director and Jeremy Andrew resigned
as a director.
Marc Geen, President and a founder of the Target has been appointed as the
Company’s President a
nd CEO and Anthony Jackson has been appointed as the
Company’s Chief Financial Officer and Corporate Secretary.
The Company’s board of directors has been reconstituted and now comprises, Marc
Geen, Mervyn Geen, who shall serve as the board’s chairman, Ant
hony Jackson,
Jeremy Ross and Alexander Kaulins.