Legal & Finance Update December 7, 2018

 
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THIS WEEK’S UPDATE

  • This week has been a whirlwind. We are actively working on the last stages of our cannabis licensing.

  • We have been working diligently over the past few months to create a subsidiary in Greece and to finalize a partnership in the area. This week we have drafted a term sheet and are waiting for the agreement to be executed by our partner in Greece.  We will be submitting our license to cultivate cannabis in Greece on December 10th. 

  • This week we got a little bit more guidance from the AGCO about the retail license application process. It is only a small piece of information but it helps guide us.

  • Despite all of the work in these areas as always our primary area of focus is on the research and processing license. Fortunately, the outstanding deliverables for these licenses are related to our security plan. We have an excellent consultant (David Hyde) working on our plan and we hope to complete the review in the next two weeks. This week our Province team worked diligently with David Hyde to perfect the floorplan, the HVAC plan, and the equipment list needed for the licenses as well.  

LOOKING FORWARD

  • We are looking forward to submitting our application to cultivate cannabis in Greece. 

  • We are looking forward to on going on work on the licenses.  

  • Starting work on EoY preparations for 2018 audit and tax filings. 

THINGS WE NEED HELP WITH

  • We need a bit of help with finding financing options for our more expensive equipment pieces. This is not urgent yet but it is something we would like to plan for in advance. We are trying to set up meetings with government officials in Nunavut and Grimbsy. If you have any contacts in these regional governmental offices please let us know.

  • We are working to prepare our retail license application for recreational sales. If you have any insight or experience with this process please let us know. 

  • We are in need of leadership training programs for our management team. If you know of any helpful classes in this area that you can recommend please let us know.

  • The founders are developing a list of priorities for 2019. We would love your feedback on things you would like to see added to the list. We plan to have licenses (retail sales, processing, and research) submitted buy EoY and we plan to have our first run of alcoholic beverages in stores by Q1, but we are continuing to hone in the list of other priorities. Clearly I can’t list all of the others here, but if you have ideas that you think might not be on our radar, please feel free to reach out.