GREY:WSLFF - Post by User
Comment by
forfunon Feb 03, 2020 3:02pm
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Post# 30635591
RE:RE:RE:RE:Something fishy is going on here, I was going
RE:RE:RE:RE:Something fishy is going on here, I was goingPhilwauke wrote:
I'd like to know the reasoning behind the westleaf canndara merger if they're planning on moving away from an expanded retail foot print.
Everything about this company (Westleaf) just screams shady. Westleaf/IGC gave Canndara $7.5M for 21.4% of the company. Then a few months later, Westleaf excercised their option to purchase the remainder of the company for a predetermined value of $48.4M.
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As part of the transaction, Canndara will build out Westleaf’s Prairie Records retail concept in several of its locations in advance of Westleaf exercising the Option. Canndara locations are at varying stages of development with seventeen (17) development permits awarded."
From what I can tell, there was only 1 Canndara location open at the time, and the few other locations that were in prelminary talks to open are now "coming soon". Depending which news release you read last year, there were between 30 - 50 stores total between Canndara and Westleaf. If you heard over to Westleaf's site, there's 7 stores listed (3 "coming soon"). This includes the 3rd party stores also acquired through the other acquisition last year.
"Canndara boasts a variety of locations alongside the possession of 17 development permits awarded throughout Western Canada. Acquiring these locations would supplement Westleaf’s existing retail presence, which has increased from 20 to 30 stores to around 50 that are all expected to be fully operational and licensed in 2020."