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RBI Ventures Ltd. V.RBI.H

RBI Ventures Ltd is looking into new business opportunities.


TSXV:RBI.H - Post by User

Comment by mike49on Apr 21, 2018 7:34pm
153 Views
Post# 27922365

RE:RE:Livewell News Release

RE:RE:Livewell News ReleaseA buddy asked me about this so my 2 cents....
only way rb is involved with livewell is if the company is further split up(possible) a change from psc to rb for livewalls' business with same fella director both places ?
can't see it for a million reasons
Anyway,Notman bought for some reason.maybe one of psc past targets in play again.
from the good folks at Stockwatch....

Timothy McCunn's halted Percy Street Capital Corp. (PSC) has an update on its QT to acquire Peter Abboud's Livewell Foods Canada Inc. Livewell is selling $10-million worth of units at $1. It will use the money to "retrofit" its Artiva greenhouse in Ottawa and begin building a one-million-square-foot greenhouse in Quebec. Livewell has four subsidiaries: Artiva Inc., Livewell Foods Quebec Inc., O-Hemp Inc. and Delisse Fine Cuisine Inc., each of which has its own business.

Artiva grows beans, peppers, eggplants, tomatoes and zucchinis on 100 acres of land including 740,000 square feet of greenhouse space near the Ottawa airport. It sold $2.1-million worth of produce to grocery stores last year. The company has just expanded its landholdings by acquiring an additional greenhouse that it hopes to turn into a marijuana growing operation. Artiva has applied for its licence with joint venturer Canopy Growth Corp. (WEED: $30.60). Canopy agreed to provide strategic advice in exchange for 20 per cent of Artiva and up to 20 per cent of its future marijuana yield at a set price not-yet determined. Artiva has also arranged a $54-million marijuana stream from Chuck Rifici's Cannabis Wheaton Income Corp. (CBW: $1.55). In exchange, it is entitled to acquire 33 per cent of Artiva's future cultivation yield at a price to be determined.

Artiva has run into one naysayer, neighbouring horse farmer Gary Scarf. He has been complaining about water quality, cleanliness and security. In February, he told CBC News that the farm is already unkempt with garbage blowing onto his land. He is also worried that the security fences will look like a jail.

Meanwhile, Livewell Foods Quebec is also applying for a medical marijuana licence through Canopy Growth. It plans to grow marijuana at the proposed one-million-square-foot greenhouse, see above. O-Hemp sells hulled and shelled hemp seeds that can be added to salads, soups, dressings and smoothies. It also makes three flavours of snack bars. Delisse Fine Cuisine makes hummus and cheese spreads. All of the products are for sale at Eastern Canadian grocery stores.

Percy Street is Mr. McCunn's first capital pool shell. Since listing it at 10 cents in January, 2016, he has attempted two prior QTs: a do-it-yourself beverage carbonator and wound-management software. The shell has made some changes to its proposed board (see Shell Summary for Jan. 22, 2018). On closing, Mr. McCunn will now stay on as a director. He will be joined by Percy Street director Hugh Notman, who is the managing director of CCC Investment Banking's Vancouver office. Livewell's co-CEOs, Mr. Abboud and Seann Poli, will also join the board. Mr. Abboud is in charge of horticulture and food manufacturing, while Mr. Poli works on obtaining medical marijuana licences and developing the hemp line of products. The final director will be Lawrence Cannon, Canada's former ambassador to France, and before that minister of foreign affairs, minister of transport and minister responsible for Quebec. He lives in Pontiac, Que., where Livewell plans to build its one-million-square-foot greenhouse.
Cheers

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