RE:RE:RE:RE:RE:RE:RE:Mpx and ianthus combine in all stock dealWe also get the new MPX International shares for MPX’s current Canadian activities. They’re small, but, according to The Growth Report on Seekingalpha:
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In June 2018, MPX purchased Canveda, a Canadian licensed producer based in Ontario. Canveda has a 12,000 ft2 facility which can produce ~1,100 kg/year of cannabis. The deal was worth ~$18 million, although that figure (from MPX) excludes the value of warrants which were 20% above share prices at the time and are in-the-money today. MPX is currently expanding in Ontario and is in the process of licensing a 72,000 ft2 facility capable of producing an additional 8,000 kg/year.
MPX also purchased Spartan - a Canadian Veteran Advisory Group - for $6 million in September 2018. This will provide some customers for MPX's other operations:
"Spartan is one of the leading Cannabis Access point providers for Veterans in Canada with its network of 500 patients consuming close to 500 kilograms annually. MPX plans to utilize Spartan as an additional sales channel to ensure continued growth in its patient user base and expects that Spartan will convert much of its pre-existing patient base over to its MPX/Salus Medical products. In addition to this valuable patient network, the acquisition of the Spartan Shares is expected to immediately contribute to revenue growth at the Company as Spartan receives sales commission from the licensed producers that supply its patients with cannabis."
MPX Press Release, September 2018
Note that MPX has no provincial supply agreements - meaning their product is not yet on store shelves. MPX will seek to make partnerships with retailers and with provinces to get their product onto retail shelves, but they have no made those partnerships yet.”