Supreme Cannabis Company Inc. (The) T.FIRE

RE:RE:RE:Supreme covenants intact - likely hit 2mil+ ebita

[RetailInvestor9]

Hi, Do you know when this 7 million was drawn??

johnale wrote:

Trans - something is brewing - ya I looked at prospectus. 

they have been plowing the ATM since mid Jan - 20mil shares -~4mil worth. All the sales are listed on prospectus. 

62mil out on BMO? - they had 55mil drawn before - they drew another 7mil there. 

Now 20mil raise? - that's over 30mil from sources? 

and....

they were lean as giraffes neck, with no need for capital expenditures, and clearly hit their covenants. Meaning 2 mil ebita positive which is more than their interest expense. 

something is definitely up......

 

theTransporter wrote: Johnale - Your DD on this is much appreciated as this completely rules out their arm being forced to perform this raise.

Where did you find this?  I assume this was burried deep in the Prospectus Supplement on SEDAR?  

Based on your other post, they just want to have the cash on hand "just in case" of an opportunity that they can move quick on?  Otherwise they would pay their debt down.  If there is no excellent opportunity presently in front of them, and this is a "just in case" scenerio, the timing is horrible as they could have let the stock price appreciate after a good Q2, then rise the money with less dilusion.  

One would think they would close the ATM when this gets filled and force the shorts to cover in the open market.

I still question why they titled this as an "Overnight" marekted public offering, when clearly this was not the case.