RE:EXPANSION EXPANSION EXPANSION$7m deficiency in current capital to complete their ongoing projects. For all of those saying fully funded, or those thinking they understand construction costs - yes talking to you Blaine - I painted this precise picture for you 2 months ago.
TheBar10der wrote: Info found on Sedar as to where the $15 mil will be going to.....
There is no guarantee that the Company will receive sufficient net proceeds from the Offering to
accomplish some or all of the objectives set out above. In the event the Offering amount is less
than $15 million, the Company intends to utilize the proceeds of the Offering in the following
priorities:
(a) first, to completion of construction on the Cultivation Facility;
(b) second, to expansion into California;
(c) third, to expansion into Colorado;
(d) fourth, to expansion into Washington state;
(e) fifth, to expansion into Canadian markets;
(f) sixth, to expansion into Arizona; and
(g) the balance to general working capital purposes.
The following table indicates the approximate amount of the net proceeds of the Offering
intended to be allocated to the foregoing uses, assuming the maximum Offering is achieved:
Use of Proceeds Approximate Amount
Completion of construction of Cultivation Facility $7,000,000
Expansion into new U.S. markets:
(a) California; $2,660,000
(b) Colorado; $665,000
(c) Washington; $665,000
(d) Arizona $1,500,000
Expansion of Infused into Canadian markets $1,000,000
Unallocated Working Capital (1) $10,000
Total $13,500,000