Clinteroo, Bruce Duncan just announced a smok'n Cannabis deal out of Colombia for CCK. Wow ......... an eight cent stock is instantly valued at 25 cents with the announced pp .......... a pp that is brokered, hence the "subscription receipts".
So a broker or syndicate of brokers give an immediate premium valuation and in all likelihood have already taken it down ........... watch them announce an over subscription too.
Three licenses and export too .......... now that is something sweet.
Take a look at where KHRN is trading ............ same locale but this deal is much better.
Watch this fly well north of a buck when it comes off halt after closing of the deal.
Duncan doesn't suffer idiots lightly ........... Cannacure, Honu and even Valleyfield were deals that did not serve the investors of CCK well, they were bad deals once the due diligence flushed out the problems.
8 cents to say a $1.50 by the end September/October ............ well worth the wait for CCK investors.
Canada Coal signs LOI for combination with Gaberi
2018-07-27 08:12 ET - News Release
Mr. R. Bruce Duncan reports
CANADA COAL ANNOUNCES PROPOSED REVERSE TAKEOVER TRANSACTION OF MEDCOLCANNA S.A.S.
Canada Coal Inc. has entered into an arm's-length non-binding letter of intent (LOI) dated July 25, 2018, in respect of a proposed business combination that would result, if completed, in the takeover of Canada Coal by Geberi Ltd. (hereinafter, Medcolcanna). The LOI provides that Canada Coal and Medcolcanna will negotiate in good faith and attempt to enter into a definitive agreement in respect of the Business Combination on or before September 15th, 2018. Completion of the Business Combination will be subject to a number of conditions including, but not limited to, completion of due diligence, execution of a definitive agreement, shareholder approval and receipt of all required regulatory approvals.
In connection with the LOI, Canada Coal has agreed to provide Medcolcanna US$25,000 as payment to secure exclusivity rights to the Business Combination.
The Business Combination will constitute a "reverse takeover" under Policy 5.2 of the TSX Venture Exchange ("TSXV"). Additional information required by Section 2.3 of Policy 5.2 will be provided in a later news release. Pending completion of the Business Combination, it is expected that the shares of Canada Coal will remain halted for trading.
About Medcolcanna S.A.S.
Medcolcanna has a wholly owned Colombian subsidiary, Medcolcanna S.A.S. (the "Subsidiary"), which has operations in Colombia. Medcolcanna intends to combine scientific expertise, agricultural advantages in cost and quality, within a Latin American market place of approximately 620 million people. To this end, it intends to bring together international business expertise, agronomic knowledge and agricultural advantages in Columbia (namely, 12 hours of day light, no seasonal weather fluctuations, fertile soils and available low cost and experienced labor force).
Medcolcanna has received three licenses, including cultivation of psychoactive (high THC) and non-psychoactive (THC<1%) medical cannabis, as well as a license for the production, domestic distribution and international export of both THC and cannabidiol medical cannabis. Medcolcanna believes it will be well-positioned with 4 hectares of approved land upon which it plans to immediately start construction of facilities and greenhouses. The land is located close to Bogota, the capital city of Colombia. The Subsidiary is also currently negotiating option agreements for up to 120 hectares of additional land in order to provide optionality for the rapid expansion of the Subsidiary.
Canada Coal and Medcolcanna further intend to conduct, and it is a condition of the Business Combination for Medcolcanna to close, a private placement of up to 14,000,000 units by way (the "Offering") of subscription receipts of Medcolcanna (the "Subscription Receipts"). Each unit ("Unit") is to be comprised of and convertible into one common share at a price of CAN$0.25 per Unit and one-half of one common share purchase warrant at a price of CAN$0.40 per Unit of the resulting issuer, following the completion of the Business Combination, to raise gross proceeds of approximately $3,500,000. The net proceeds from the Offering shall be used for the construction of facilities and greenhouses necessary for the production and processing of cannabis and general corporate purposes.
Completion of the Business Combination will be subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including shareholder approval and the approval of the TSXV. In connection with the proposed Business Combination, the Company expects that it will meet an exemption from the "sponsorship" requirements of Policy 5.2.
We seek Safe Harbor. |
