RE:Sedar Noticemydogchach wrote: RECEIPT Zenabis Global Inc.
............Preliminary Short Form Base Shelf Prospectus of the above Issuer dated December 2, 2020.
Both the old (2019) and new (2020) Shelf Prospectus are for aggregate offering price of $100,000,000 (or the equivalent thereof if the Securities are denominated in any other currency or currency unit) during the 25-month period that the short form base shelf remains effective.
Here are some changes:
They change the offering legal team from Stikeman Elliott LLP to Osler, Hoskin & Harcourt LLP. The Company’s head office is now located at 400-1152 Mainland Street, Vancouver, BC, V6B 4X2 and its registered and records office is located at Unit 1 – 15782 Marine Drive, White Rock, BC, V4B 1E6.
In the April 2019 Shelf Prospectus, the Company’s head office was Suite 3100, 666 Burrard Street, Vancouver, BC V6C 2X8 and its registered and records office was Suite 1700, 666 Burrard Street, Vancouver, BC.
The new Shelf Prospectus contains statements with respect to response and preparedness for the COVID-19 pandemic. The new Shelf Prospectus also does not mention Delta as a facility but does mention Delta in recent developments as having been sold "for a gross purchase price of $6.65 million and is subject to standard conditions".
The new Shelf Prospectus also updates Management Team and Board of Directors, i.e., no more Adam Spears, Independent Director | Adam is the Founder of ace148, a privately held investment company based in Toronto. Previously, Adam was a Principal and Portfolio Manager at Anson Funds.
The new Shelf Prospectus does not have the certificate of promotors for Mr. Monty Sikka and Mr. Mark Catroppa as it did in 2019.
Here is an interesting cut/paste from the 2019 Shelf Prospectus:
Related Party Arrangements and Agreements
Monark Media Ventures Ltd. (“Monark”), of which the Chairman and a promoter of the Company, Mr. Monty Sikka, and a promoter of the Company, Mr. Mark Catroppa, are the sole beneficial shareholders, leases to Zenabis certain office space in Surrey, BC, and provides certain services and employees to the Company, all on a transitional basis following the RTO. Most of the services and employees will be transitioned out of Monark by March 31, 2019. None of the services or employees are material to Zenabis. Zenabis has entered into a lease for new headoffice space and expects to leave the Monark office space entirely during the second quarter of 2019. Current monthly lease payments by Zenabis to Monark are approximately $25,000, plus common area maintenance costs.
Fraser River Construction Ltd., a corporation of which Mr. Sikka and Mr. Catroppa are the sole beneficial shareholders is currently under contract to provide construction management services in connection with laboratory construction at the Zenabis Delta facility, which is expected to be complete around June 30, 2019. The construction management fees
to be paid by Zenabis under the contract are approximately $67,000.
WHY DO I GET THE FEELING THAT IF ZENABIS REQUIRED CUPCAKES, Mr. Monty Sikka and Mr. Mark Catroppa WOULD OPEN A CUPCAKE SHOP.