“So please help us get through this and insist people rename their strains.” For a more in-depth report on the “State of the Cannabis Market” keynote panel, visit bit.ly/cannabiskeynote . Jay Czarkowski, founding partner of cannabis consultancy Canna Advisors, offered four tips when applying for a cannabis license: Surround yourself with good people. (This suggestion came up many times during the conference and should be a standard operating procedure.) The team you put together and their relevant backgrounds are essential to a successful application. Make sure your business and financial plans are in order. Convey how your business benefits the community, especially patients, if applying for a medical license. Remember to answer every question on the application. This may sound obvious, but it is a common mistake applicants make. Carlos Campos, founder and CEO of C&H Auxiliary Safety Management, Inc., and Luke Tipton, a safety consultant from Milestone Safety Group, led the session entitled “OSHA Compliance: Why and Marijuana Stocks How to Prepare Now.” Speakers Carlos Campos (left) of C&H Auxiliary Safety Management and Luke Tipton of Milestone Safety Group spoke on preparing for “OSHA Compliance.” While safety regulations may seem overwhelming or even a bother, Tipton reminded attendees that the Occupational Safety and Health Administration (OSHA) expects all employers to be compliant. “It’s the employer’s responsibility,” he said. Campos added, “You should not fear reaching out to your local OSHA organization.” An OSHA consultant’s mission is to help employers with compliance.
To read more visit http://www.cannabisbusinesstimes.com/article/7-key-takeaways-from-cannabis-2017/
Problem #1: This offering by a leading group of underwriters is not a “bought deal.” It is a “best efforts” financing. The preliminary prospectus says, “The obligations of the Underwriters under the Underwriting Agreement are conditional and may be terminated at their discretion on the basis of… “market out.”” In other words if the underwriters can’t sell it, they can exercise the “market out” clause and not complete the offering. This has to be puzzling at a time when much smaller, less prominent Canadian Licensed Producers have been rated worthy of “bought deal” status. Bought deals are reserved for the very best underwriting candidates of which LEAF would appear to be one. Why isn’t LEAF? Fact #2: The planned pricing of the offering is $9.50 to $10.50 per share. Problem #2: The preliminary prospectus discloses that on October 31, 2016 and November 3, 2016, LEAF sold shares at $2.96 per share. Between May 18, 2016 and as recently as February 2, 2017, LEAF issued shares at $.0001 per share. This means the current proposed pricing is over three times the price at which LEAF sold shares just over six months ago. At the same time, the Let’s Toke Green Rush Business Licensed Producer Index and the Let’s Toke Business Marijuana Composite Index are both down in the range of 5-10%. It isn’t evident in the documentation what happened in the last six months to make LEAF shares increase 300% in value against the general trend in the market.
To read more visit https://seekingalpha.com/article/4077574-medreleaf-ipo-disaster-waiting-happen