Business Development & Fundraising Team Update February 9, 2018

 
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THIS WEEK’S UPDATE

  • Continuing to work our new financial model. Not much is left, and we intend to have a good first draft this week
  • The due diligence process is still ongoing. We received some feedback and request for more information for the investment bank to reach a decision. All additional requested information was already submitted and the ball is back in their court.
  • We are still in exclusive negotiations with a license producer partner; we have sent all documents for review by the LP. The exclusivity ends this week on the 15th, and we believe that by then we will receive an answer from the LP.
  • We are continuing our discussions with a CRO which has a lot of the capabilities we will need to launch our ultra-premium products.
  • Due to internal reasons with one of the main breweries we are in conversations with, our meeting with them was postponed to this week. In addition, we spoke with another brewery, yet due to its distance from schools, we won’t be able to use it.
  • There was much interest from the media side last week and our CEO, Dooma, was interviewed for lift, Hello MD, and a TV interview for CBC which will air at 6:30 PM on Tuesday. We will make sure you can find links to these interviews on the different social media channels.
  • Spoke with a few audit firms to help us with our financial reports as we start preparing for an IPO.

LOOKING FORWARD

  • We expect to complete the financial model this week.
  • Continuing to update and improve the business plan and how we can improve it. Which parts should we keep and which should we change.
  • As more merchant banks approach us, we are checking for the best partner to help us raise our next fundraising round.
  • Continuing our conversation with a potential brewery, and will meet with them in person this week.
  • Dooma will be representing Province Brands at a Yale Business School conference about cannabis and business.

THINGS WE NEED HELP WITH

  • Suggestions on what is missing (or over mentioned) in the business plan. If there was a part you felt was not clear enough or any information you felt was missing, let us know
  • We are preparing for the Cannabis Private Investment Summit in Florida. If you or anyone you know is interested in attending or meeting with the team, please let us know.