GREY:NCNNF - Post by User
Comment by
TheGreenWolfon Dec 08, 2018 4:58pm
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Post# 29087657
RE:RE:48North the hidden gem
RE:RE:48North the hidden gemSorry to pop your bubble Canmoose but you might want to lower your expectations.
Good support around $0,70, if we break the $0,72 resistance we might head toward $0,80-$0,85 and form a new base at this level.
What i like here is that Canopy Growth invested directly into 48North instead of going through Canopy Rivers.
It also comes with a supply agreement estimated to be a minimum of 1,200 kilograms and deliverable over the course of 12 months. (At $6,5/g this mean a minimum of $7,800,000 of additional revenue next year just based on this agreement,)
The Supply Agreement further states that Canopy Growth will work with 48North on a non-binding but best-effort basis to establish a national retail presence for its products in Tokyo Smoke and Tweed stores.
Which lead me to think that 48North could eventually be acquired by Canopy Growth if sales are good.
Anyway... just my 2cents! Always do your own DD before investing!
Canopy Rivers