RE:RE:RE:It's a " Bought The Rumour, Sell the News " situationmoonball32 wrote: You are so correct. The fact that one of the big 5 chartered banks had agreed to lend money so early in the cannanis cycle is unbelievable. I worked in commercial banking for 10 yrs for one of the 5, i can't tell you how many good established companies were declined for credit, not to mention OGI that has only 2 quarters under their belt, its unheard of, even with collateral security backing it. I can pretty much guarantee Greg's personal assets are pledged. Banks like to see revenue trends for at least 3 yrs before they will ever look at a deal, especially one for 140MM. If you think its no big deal, try to get a mtg or plc after working for only 6 months, not gonna happen. The loan speaks volumes about their business plan, profitability, and future revenue streams. As stated, American bankers will not miss this important part when they do their DD.
Interesting you worked in commercial banking...you would have even a greater understanding than most just how really big of a deal it is for OGI to be able to qualify and meet each and every requirement the bank would have them meet...we've often heard it said that it's easy to get money because the banks have all kinds of it....that part is true..they do have all kinds of it...but only to those who qualify...your analogy of trying to get a mortgage or a line of credit with if you've only been working for 6 months was perfect..and absolutely true..even trying to persuade them by throwing in your first born wouldn't change their mind either:)..this just shows how much faith they have in OGI that they would consider doing that this early in the game...this should be very well received by prudent American institutions with tons of money.