Post by
Cannabiznas on Nov 19, 2019 3:58pm
IR on 55M from BMO
The initial draw down of $55 million has not been used; however, it has been added to the cash available to us to use for general working capital purposes and going forward, to ensure we have the capital available to execute on growth opportunities we see in the market.
This initial $55 million draw down also clearly demonstrates to investors that we have the capital available to us to execute going forward. With $36 million in cash on the balance sheet as of September 30th and the initial draw down available to us of $55 million, we have plenty of runway ahead.
Comment by
watchmeplz on Nov 19, 2019 4:12pm
So basically your saying they want to waste around 300k a month in interest only charges to have it sit in their account? Doesn't seem to add up does it?
Comment by
Vulcan on Nov 19, 2019 4:24pm
you dont add up...why are you here.. to help everyone unlikely . More like help yourself.. short.. what you say means nothing as its self interest jmho
Comment by
Go0B3r on Nov 19, 2019 4:25pm
to ensure we have the capital available to execute on growth opportunities we see in the market. There's a little bit between the lines here to be read. Wonder what opportunities they see in the market that they can capitalize on, while we are hitting 3 year lows in the sector...
Comment by
nearnorth101 on Nov 19, 2019 6:33pm
I read in the annual report that the present 7 acres buiding will be completly finished by the end of this year and that Supreme would immediately start construction on an adjacent piece of property, maybe the 55m or part of it will be going towards the new buidking? I don't see them keeping it in their bank account very long while having to make interest payments
Comment by
jpm59 on Nov 19, 2019 7:19pm
Maybe it's for paying Year end Exec's Bonuses