Post by
DukeofEarl on Sep 04, 2020 2:16pm
This might explain our boost
Posted yesterday in a Facebook iAnthus investor group. GGP and Oasis are on notice... Hi Everyone, We are getting closer to the vote deadline, and we are hoping that everyone is doing their part in helping our actions by voting AGAINST (NO) to the POA. We know that there are still a number that hasn't received their proxy control number yet reading the comments and the polls that we have in our general Group. Sean has sent me an update that he wants to share with the group. Please take a moment to read. First official punch being thrown tomorrow! Won't be a knockout punch, but hopefully good enough to start our momentum. Cheers, iA 2.75 Admin team ---------------- I want to update all of our supporters on the current status. As you are aware, we are approaching this matter via legal means as well as to find a white knight financier to take out the bad guy creditors. From a legal perspective, Andro, Timothy, and I have carefully assessed our options and received legal advice. We are still continuing non-stop in making this right for all shareholders The conclusion is to preserve our retainer capital at this stage - to date, we have raised an aggregate of approximately $30,000. Essentially, the reasoning is as follows: We have spoken at length with experienced legal counsel that are representing unsecured debenture holders (not Oasis) that are friendly to our cause and unfriendly to the bad guys specifically, GGP and OASIS. The first motion to strike/postpone the Plan of Arrangement is on September 4 (tomorrow). This is being heard by a judge in British Columbia tomorrow! We are confident that their lawyer, with the assistance of Andro and I (at absolutely no cost to you at all) can either strike out the Plan of Arrangement or postpone it either way, we would land an effective body shot and send a message to GGP that they are in for a bloody fight. We do not want to spend money when another party is advancing our position at tomorrows motion and we can simply piggy back on their efforts. This is a strategic decision on our part to preserve the retainer deposits received the entire amount will remain in trust until the next steps. At the conclusion of that hearing, we will reassess our legal position and likely hire top-end/experienced counsel but at this stage it does not make sense to spend the money it makes more sense to preserve our capital. From a financing perspective, we continue to present the IAN story to a number of viable options in hopes that either a competitor in the cannabis space or a new financer will step in. If anyone has any questions, please send out to Andro, Sean or Timothy. Sincerely, Sean