RE:RE:Somes quotes from Fowler on MidasLetterHaving had a look at the youtube video, first it is a pre AGM discussion and second there does not seem to be anything new/ different....or was there a new one recently?
Fowler is saying that dried flower is the key market and his main focus is on bringing that product to market and honing the operation to capitalize where possible as we ramp up to full capacity....the grow rooms are to be completed by year's end and the HC inspections would be completed by mid 2019, this is a HC/ government problem of which as usual they could care less if it ever gets done.
The RI is a non issue, it was passed at the AGM and will be implemented, if required, and is exercisable up to a 1:5....the host was talking about a 1:7 and Fowler corrected him confirming that it will not necessarily be exercised at all and possibly less than 1:5. He says with the last raise of $100mil puts them in position to uplist...let's see the 50,000kilo production, forget about the split and uplist when ready, the SP will be headed north big time on $250mil+ per year sales, Venture or not.
It was either a 2mi walk or 'wall' the computer...took the walk and watched the dated interview. Unless there was another interview since, I was a little harsh on Fowler but having supported him and this company for these years and to have him start lying now would be beyond the pale, JMHO...Opt
OptGreen wrote: Based on your comments below Gil, I am not the least bit impressed with this bullshite at this time...the 100k sqft includes the admin and other non producing area, 90k is closer and I wonder about that now. No grow area added this year and we are estimating 2nd half of 2019?....who cares if there is only 50-100k sqft added now and the rest by mid 2019 but why fukking wait, you can't keep the shelves filled now!!
Any uplisting without substantial monthly sales/ revenues is stupid and a fukking waste of time talking about...nobody invested for the last 4yrs+ plus is interested in spin and bullshite at this stage of the game...any RS based on this info is just doomed to fail, get your fukkn act together!!
I haven't had a chance to listen to to the interview but on this info it this is far to weak, as everybody there has been paid well and set themselves up real fine for the future while folks with 100ks invested over the same period get another extention without pay...not acceptable, JMFO....Opt
Gilbert90 wrote: John Fowler: Definitely something that we’re looking at, so a big catalyst for us was completing our $100million financing with Bank of Montreal and GMP about a month and a half ago. That was the last condition we needed to pursue an uplist from the Venture Exchange to the TSX proper, as we were excited to get that underway....
John Fowler: And it’s up to five to one. So what we want now from our shareholders is the permission to pursue this and consider it moving forward, specifically to meet the listing requirements if we decide we want to take the company onto the Exchanges.
I understand a lot of the concern around perhaps some fears, how consolidation can be as negatively, but as one of the fastest-growing LPs, we’re number six in the country in revenue and growing quickly, and we’re well capitalized from our last financing.
So really, this is a position of strength to improve the liquidity company and build more value for shareholders over time.
John Fowler: Absolutely...So 7ACRES is operating over 100,000 square feet of licensed facility, and we’re producing about 12,000 to 13,000 kilograms per year at that run rate.
Well what’s exciting is, this is a project that we’re really close to the end on. We’re expecting completion of all of our flowering rooms by the end of the month; licensing, obviously, will take a little longer through the spring, but through the middle of the next year, we expected that full ramp of roughly 50000 kilos per year, which, when you look at the price points for achieving and the quality, I think makes that one of the most attractive businesses in the country.