Westleaf Inc. WSLFF

Is this legal?

[Mainstreet]

I was surprised to find out while researching future Westleaf/Prairie Records stores to see that in the same article that mentions that Westleaf was the selected retailer to receive a Cannabis Retail Licence for Altona, that a Matzelle Holdings Ltd was named the Standby Retailer for Lac Du Bonnet, Manitoba. I recognized the name, and checked the registry to confirm that Matzelle Holdings is an Alberta company with one shareholder, Warren Matzelle, Director of Retail Operations of Westleaf.

https://www.cbc.ca/news/canada/manitoba/rural-manitoba-cannabis-retailers-announced-1.5138581

Since then, Matzelle Holdings Ltd. became the Cannabis Retail licence holder for Lac Du Bonnet when the original selected retailer opted out. 

In an already competitive business, seems like a red flag that a public company would also be competing against their own Director of Retail Operations who is applying for Retail Cannabis Licences personally? Might be an explanation that I'm not considering, but to me seems like a conflict of interest or violation of a non-compete I'd assume would be in place? The only thing I could think would be if they were trying to broaden their net in applying for licences by having Directors apply personally as well. However you'd think Westleaf would announce that they received that licence in that case, like they did with the Altona one.

[QcTrader]

id say 70% of those retailers are doing similar things where insiders from one corporation has interest in other retailers and they end up getting acquired by the other...  Marijuana is a small world....... lots of inbred  

[Mainstreet]

I'd think it would be different for a public company. As a director, they'd have a fiduciary duty to the shareholders, and this would seem to not be in the best interest of the company.  To apply for the licence the Director would have had to put together a retail proposal, so the intentions would either have been to open up a competing store personally, or to try to sell the

[gainwidpatience]

Sell off today. Looks like We Grow shareholders acquired WL shares from the deal are selling in open market? 10% shares were unlocked post completion of the deal. Looking for a good entry considering only on We Grow's impressive  performance.

[shakeurtailfeathers]

Yup that's definitely what it looks like. I think .175 is good entry imo. Lots of news to come 

[LIVES4TREAM]

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