RE:RE:RE:RE:RE:RE:Supreme Cannabis Files For $9.75 Million ATM OfferingAgreed joh and when you look at the others taking advantage of the program and their share count on top of their current overall positions it is pretty clear there is probably much more pain to come for some and FIRE is not one of them.
It is just good business to have as much credit available while using as little as possible or none is better. Like any company, in any sector starting up they need the liquidity necessary to get over the initial cash squeeze of the start up process and FIRE looks to be in better shape than any at this stage, as long as the numbers generated are near expectations, JMHO....Opt
johnale wrote: The ATM Program is designed to provide the Company with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined in the Company’s sole discretion. Distributions of the Common Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement (the “Distribution Agreement”) dated April 24, 2020 entered into between the Company and BMO Capital Markets (the “Agent”).
Again - consistent with what supreme was saying - They have it in there as good practice - just in case. They may not need to use it at all. As per the release. They were well capitalized already.