RE:Don't forget Auxly's $3.00 Target Boyzzz :)Why would you even bother to post a news release and price target from 7 months ago which is like a lifetime in the cannabis amrketplace.
Clearly evident by the fact that the company name has already changed and is no longer Cannabis Wheaton as they have started to move away from the pure streaming model that they initially started out on. Any bets that a good chunk of the $115M is already spent with still not much to show for it, except for Chuck having a bigger smile on his face and gaining more weight. Grrrr......................
1hot-techwoman wrote: After completing a new $115 million financing round, Cannabis Wheaton Income Corp. (TSXV:CBW) is now sitting on a huge pile of cash, says analyst Greg McLeish of Mackie Research, who on Tuesday maintained his Buy recommendation and price target of $3.00. May was a busy month for Cannabis Wheaton, which closed on the acquisition of late-stage Licensed Dealer Dosecann Inc., announced an exclusive license for Denver-based Dixie Brands product branding and IP in Canada and closed on a $115 bought deal led by BMO Markets. The financing, to be used for capital expenditures and capacity expansion, brings the companys pro-forma cash position up to $315 million, according to McLeish, who says that CBW is well-positioned for growth in both the medical and recreational cannabis markets. CBWs model allows it to access cannabis production from growing collection of diverse partners, enhancing its position to participate in anticipated provincial distribution channels, says McLeish in an update to clients. Through existing agreements, the company has locked up more than 100,000 kilograms of funded production, positioning it as one of the leading suppliers for both medical and recreational cannabis. McLeish also notes that on June 1, the government of Saskatchewan announced the operators of the provinces 51 cannabis retail store permits, choosing CBWs Kolab Project Inc. to operate a retail location in Lloydminster. The analysts updated forecast has CBW producing a $22.0 million EBITDA loss on revenue of $7.3 million in 2018 and EBITDA of $35.2 million on a topline of $165.3 million in 2019. McLeishs $3.00 target is arrived at by applying a 12x EV/EBITDA multiple to his 2020 estimate and applying a 15 per cent discount rate.