From the Facebook Group Email response.
I receive a quick answer from Agra. The answer is coming from Nicholas Konkin new IR nk@kcapitalmarkets.com
Tim is no longer with the company. I will be handling the IR moving forward. Nice to e-meet you.
The company did not have a lot of the previously raised money remaining. The capital was used for retrofitting projects in Delta and Winnipeg as well as brand development and purchasing businesses like SGSC. The new capital will enable us to finish the development projects in Delta and Winnipeg and keep them on track for licensing and revenue generation. I think it is important to note that the ability to raise capital in this market is a nod to the projects that we have. A lot of bigger companies in our industry are unable to raise capital.
AAA Heidelberg is one of the projects that the company is currently delaying temporarily to conserve burn rates. However, Farmako is revenue generating and continues to see growth with many catalysts to come. SGSC is expecting revenue generation soon with strong growth by the end of the year. Our development projects in Delta and Winnipeg give us high hopes for a strong 2021.
I appreciate your concerns and invite you to contact me anytime with questions. I hope this helps.