Business Development & Fundraising Team Update February 16, 2018

 
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THIS WEEK’S UPDATE

  • We are still in exclusive negotiations with a license producer (LP) partner; we have sent all documents for review by the LP. Dooma met with the LP’s CEO this week, and the process is progressing well. We expect to have it signed within the next couple of weeks.
  • Had conversations with a potential partner in Europe which will help us receive licensing in a European country.
  • We met with a potential location for our brewery and began negotiations for the terms. We prepared a counter offer and will send it out this week.
  • We have been approached by an LP with interest to have a white label deal with us.
  • Spoke with a few auditing firms and made a decision on which one is the best fit for Province Brands.
  • Continuing to work our new financial model. We have a preliminary draft that calculates all of our costs and income.
  • The due diligence process with an investment bank is still ongoing. All requested documents were sent.
  • Province Brands CEO, Dooma, interview on CBC was aired this Tuesday. You can find a link to the interview on our social media channels. 
  • Dooma represented Province Brands at a Yale Business School conference about cannabis and business.

LOOKING FORWARD

  • This week Dooma and Elad will attend the Cannabis Private Investment Summit in Florida
  • We expect to have a final financial model within a few weeks.
  • We are continuing our work to receive a license in a European country.
  • Continuing to update and improve the business plan. 
  • As more merchant banks approach us, we are checking for the best partner to help us raise our next fundraising round.
  • We will send our counteroffer to a location for our brewery
  • Finalize an agreement with the auditing firm and start the auditing process.

THINGS WE NEED HELP WITH

  • 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.