RE:RE:Nice volume and uptick!Tommy, the information has been there all along, I suspect we are getting close to some sort of agreement as per the news release below:
Alchemist Announces Letter of Intent to Acquire All Nations Cannabis Corporation September 3, 2020 Vancouver, BC – Alchemist Mining Inc. (CSE:AMS.X) (“Alchemist” or the “Company”) is pleased to announce that it has entered a non-binding letter of intent (the “LOI”), dated August 31, 2020, for the acquisition (the “Transaction”) of All Nations Cannabis Corporation (“All Nations”), a company that is in the final stages of receiving a Health Canada License for the cultivation and processing of cannabis and associated products. The transaction will include $20,000,000 of real estate on First Nations territory, including (i) a built-out late stage 30,000 sqft cultivation facility (the “Facility”) sitting on 14 acres of leased land, and (ii) a further six buildings on individual parcels of leased property. The proposed consideration under the LOI will be the issuance of $20,000,000 worth of Alchemist common shares, at a deemed price of $0.045 per share. Completion of the Transaction will be subject to receipt of necessary consents and approvals, including without limitation (i) approval of the Canadian Securities Exchange (the “CSE”) for the listing of the common shares of the resulting issuer, (ii) approval of Alchemist’s shareholders and (iii) entry into of a definitive agreement. The Transaction will be an arm's length transaction and is expected to constitute a change of business of Alchemist under the CSE’s rules and policies. There can be no assurance that the Transaction will be completed on the terms proposed in the LOI or at all. No finder’s fees are payable in connection with the Transaction and no advances or other consideration will be paid by Alchemist to All Nations in advance of closing of the Transaction. The Company is also pleased to announce a non-brokered private placement (the “Private Placement”) of common shares for gross proceeds of up to $3,000,000 at a price of $0.035 per share. The Company intends to close a first tranche (the “First Tranche”) of the Private Placement in the near future and the remainder of the Private Placement as a second tranche (the “Second Tranche”) concurrently with closing of the Transaction. Proceeds from the First Tranche will be used for working capital and proceeds from the Second Tranche will be used for working capital and to execute the resulting issuer’s business plan over the subsequent 12 months. “We are very excited to announce this development”, states Paul Mann, CEO of Alchemist. “The opportunity allows us to work with First Nations communities across Canada and to help those communities prosper from jobs created, skills training provided and a contribution to indigenous social programs that will be created from the financial returns of our partnerships. Once completed, the transaction will allow us to roll out a national footprint of retail stores, with 30 more to-be-licensed locations already in the All Nations pipeline.” Darwin Douglas, CEO of All Nations, added “Our Vision is to build a world class cannabis company that ultimately improves the lives of the indigenous communities that we work with. This transaction with Alchemist provides us with the platform to get there”