Surely you dont believe that this group will have any trouble finding a fantastic qualifying transaction to launch BUZ.P do you ?? Thing is you can buy now for .30 or after the halt and news of what that transaction is it could well be like Chuck's first public weed company. By then you will have missed the party.....
Buzz Capital Inc. (BUZ), listed today. It opened at 12 cents and closed at 21 cents on 387,500 shares. The shell sold a $420,000 initial public offering at 10 cents through Haywood Securities Inc.
Mr. Rifici is a chartered accountant, who also has a computer engineering degree. From 1995 to 2012, he mostly provided chief financial officer services to private tech companies. From September, 2011, to June, 2016, he volunteered as the treasurer of the Liberal Party of Canada. These days, he is better known as a marijuana promoter.
In April, 2014, Mr. Rifici's Tweed Inc. became the first licensed pot producer to go public. He launched it through one-time shell-maker Larry Poirier's capital pool shell, LW Capital Pool Inc. The resulting issuer, Tweed Marijuana Inc., peaked at $3.95 on its third day of trading. Mr. Rifici left the company a few months later. In September, 2015, Tweed Marijuana merged with Bedrocan Cannabis Corp. to form Canopy Growth Corp. (WEED: $8.51).
In May, 2017, Mr. Rifici became the chairman and chief executive officer of Cannabis Wheaton Income Corp. (CBW: $0.74), which calls itself a "cannabis streaming company" and hopes to remind investors of the other "streaming company" with "Wheaton" in its name. Mr. Rifici is also the CEO of Nesta Holding Co. Ltd. and the chairman of National Access Cannabis Corp. Nesta is a marijuana investment firm. National Access is a private operator of marijuana prescription clinics. It is working on its launch through former broker Connor Cruise's capital pool shell, Brassneck Capital Corp. (BC: halted).
Mr. Rifici has two fellow directors at Buzz Capital: Lorne Gertner and W. Brett Wilson. Mr. Gertner was the chairman of a marijuana investment firm called PharmaCan Capital Corp. from December, 2014, to May, 2016. PharmaCan has since changed its name to Cronos Group Inc. (MJN: $2.31) and now trades about six times higher than PharmaCan used to. In April, 2015, Mr. Gertner and his son, Alan Gertner, opened a retail store in Toronto called Tokyo Smoke, which sells marijuana, coffee and clothing. Since then, two more Tokyo Smoke branches have opened in Toronto. The elder Mr. Gertner is also a director of licensed pot grower Emblem Corp. (EMC: $1.73).
The third director of Buzz Capital, Mr. Wilson, is a civil engineer in Calgary. He is an oil and gas promoter, known to many as a former investor on the CBC television program Dragons' Den. He is the chairman of Canoe Financial Corp., manager of Canoe EIT Income Fund (EIT: $11.29) and a dozen other funds. He is also a director of Maxim Power Corp. (MXG: $2.70), a clean energy producer in Alberta.
Tokyo Smoke is raising $5-million in a Series B financing. In a news release earlier this month, it provided no details of the financing but said that its lead investor was licensed pot producer Aphria Inc. (APH: $5.73). It also said it was "encouraged by demand from new and existing investors, including W. Brett Wilson." |
