ZenaTech Inc T.ZENA

RE:RE:RE:RE:Unique Properties: Delta sale to be finalized next week

[buddyboybruce]

cmj1966 wrote: I,ve seen the property we will see what the loss(writedown is LMAO)  BBB show the proof that is was bought for under 4 Mill$

The writedown or “one time charge” will be about $1.3m as I believe the facility carried a value of $7.95m on the latest Q3/2020 Financials.

The Delta Facility was acquired around 2013 when Zenabis was Int'l Herbs (IHMML):
https://www.investinmj.com/directory/growers/international-herbs-medical-marijuana-ltd


Regarding the purchase price, I remember it being about $3.7M but it's a moot point now as what matters is the valuation listed in Zenabis' financials. I can't find the source for the purchase price after digging for a while. Main point is that it's a small writedown and a big boost as Zenabis really needs that cash now. 

This link just shows that the purchase of the Zenabis Delta Facility was a long time ago and a moot point today:
https://www.sec.gov/Archives/edgar/data/847015/000144586614000346/form10k04092014.htm
 (c) a property with a 25,000 square foot facility in Delta, British Columbia (the “Delta Facility”). Subject to CanaLeaf completing its purchase of all of the Shares that it has agreed to purchase pursuant to the Subscription Agreement, IHMML agrees to use all reasonable commercial efforts to complete or cause LandCo to complete the purchase of the Atholville Facility, the Poekmouche Facility and the Delta Facility (collectively, the “Investment Property”). It is contemplated that the Investment Property will be acquired in a separate company or companies from IHMML (collectively, “LandCo”). IHMML agrees to structure the purchase of the Investment Property such that either: