Supreme Cannabis Company Inc. (The) T.FIRE

Financing

[FIREdup]

Maybe I am missing something but not sure how this news is a bad thing.  They obtained a significant amount of financing at a reasonable interest rate of 6%.  And the debt is convertible at a share price of $2.45.  If the stock price stays where it is, conversion will not be attractive.  If the stock price goes above $2.45, we are all happy as the stock price will have appreciated from its current level and the debt will come of the books.  

I suspect this money will be used to fund the construction of the Lot 16 project which is again a good thing.

AND, they specifically mention an uplisting to the TSX, again a good thing.

If I am completely out to lunch and this is bad news, perhaps someone can explain why.

[Joe7271]

Where is the mention of listing on TSX? I can not find it.

[IamGroot]

Halfway into the article it states that it was a necessary step to help them qualify to the tsx

[IamGroot]

In addition, the Company views the completion of the Offering as an important milestone in qualifying for graduation to the Toronto Stock Exchange alongside other leading mature licensed producers in the Canadian cannabis industry. The Offering is expected to close on or about October 19, 2018. The Offering is subject to certain conditions including, but not limited to, the receipt of all

[maritimedreamer]

Does anyone know hat exactly is the specific milestone they speak of? To me it does sounds like their intentions are to uplist....but wondering how a deal like this gets then closer? They do mention funds will be used for increasing capacity....but as mentioned b4 they have funds/revenues to build 7acres....will these new funds be for lot16? Another facility? International? They have to be doing