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CBD - Cannasouth Ltd

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  • #16
    Not long now to see if the brokers here have found the prerequisite number of suckers to IPO.

    Key terms of the offer are attached.

    - Description of the equity securities: Ordinary fully paid Shares
    - Price: NZ 50 cents per Share
    - Offer opens: 27 May 2019
    - Priority Offer closes: 7 June 2019
    - General Offer closes: 14 June 2019

    - Number or amount of the equity securities being offered:
    A minimum of 10,000,000 new Shares are being offered; and
    A maximum of 20,000,000 new Shares are being offered.

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    • #17
      Just had a search of NZX site and there is nothing turned up by multiple searches, not even a company place holder I noted before.

      Has this shambolic backdoor-cum-IPO pig been caned quietly by the powers that be?

      Comment


      • #18
        Originally posted by Moosie View Post
        Just had a search of NZX site and there is nothing turned up by multiple searches, ?
        You might just be experiencing NZX search bar being more secure than Treasury's

        Comment


        • #20
          Originally posted by Buzz View Post
          The upcoming ipo notice is there
          Yeah, the old announcement ones are there, but there was a placeholder link for the company (with no announcements) last week. If you typed in "Cannasouth" the company link came up.

          Comment


          • #21
            Originally posted by Moosie View Post

            Yeah, the old announcement ones are there, but there was a placeholder link for the company (with no announcements) last week. If you typed in "Cannasouth" the company link came up.
            Cannasouth is a startup cannabis research and development company that is planning to list on the New Zealand Stock Exchange next week. We have been asked by some of our members to review its prospectus and compare it to the other medicinal cannabis companies we cover.

            In brief, Cannasouth is a very early-stage investment that is being priced 70-200% higher than later-stage IPOs and 25-100% higher than other established medicinal cannabis companies on the Australian Stock Exchange.
            Cannasouth is a startup cannabis research and development company that generates no revenues, owns no substantive assets, has no products in market or in development, has no commercial agreements apart from some non-exclusive licenses to import cannabis seeds and plants, and it cannot start to sell products in New Zealand without Government reforms that are far from certain.

            It is planning to raise between NZD5-10 million when it lists on the New Zealand Stock Exchange at a post-money value of NZD46-51 million or 3.7-4.7x its invested capital*. This would make it 70-200% more expensive than later-stage IPOs and 25-100% more expensive than other established medicinal cannabis companies on the Australian Stock Exchange:
            • Creso Pharma, by comparison, is a vertically-integrated medicinal cannabis and hemp ingredients company with farms, laboratories, manufacturing facilities and distribution agreements around the world. It was one of the first cannabis companies to list in October 2016 at 2.2x its invested capital. Its shares have since traded as low as 1.1x its invested capital and are now under a full takeover offer at 2.3x its invested capital. Click here for more information about Creso Pharma.
            • AusCann Group is a partially-integrated manufacturer of medicinal cannabis products with operations in Australia and Chile. It was listed in January 2017 at 2.0x its invested capital and its shares are currently trading at 1.5x its invested capital. Click here for more information about AusCann Group.
            • Cann Group is an upstream producer of cannabis with farms, research facilities and supply agreements in Australia and around the world. It was listed in May 2017 at 1.6x its invested capital and its shares are now trading at 3.1x its invested capital. Click herefor more information about Cann Group.
            In summary, Cannasouth is a newly formed company that appears expensive with no certainty of becoming a going concern. If you are interested in the IPO, you should discuss it with your adviser and ask them to request more up-to-date financials from the company than those provided in the prospectus.

            Comment


            • #22


              The previous post turned up as an email from shareclarity today - seems pretty sensible advice....

              Cannasloth still on NZX site under Upcoming listings - just don’t click the 3 letter code.....click notice.....

              lol - and good luck getting more up to date financials from the company anyone wot has an adviser....

              My advice as a non adviser is bargepole.

              Last edited by Crackity; 12-06-19, 08:28 PM.

              Comment


              • #23
                Originally posted by Crackity View Post

                The previous post turned up as an email from shareclarity today - seems pretty sensible advice....

                Cannasloth still on NZX site under Upcoming listings - just don’t click the 3 letter code.....click notice.....

                lol - and good luck getting more up to date financials from the company anyone wot has an adviser....

                My advice as a non adviser is bargepole.

                Good for the promoters, they'll be rubbing their hands and wallets with glee. Did Shareclarity state who the author was?

                Comment


                • #24
                  Originally posted by Buzz View Post

                  Did Shareclarity state who the author was?

                  Nope....

                  Comment


                  • #25
                    $0 Revenue and 0 products, with no legislation for any of it, and already HUGE raises for management and directors already:

                    Meanwhile, the Cannasouth NZX listing will deliver a controlling stake of about 65 per cent of the shares to founders and directors Mark Lucas and Nic Foreman. They will also be eligible for options to buy shares.

                    Their salaries will rise from $80,000 a year to $125,000. Directors Lucas, Foreman and Conor English will take a rise in fees from $40,000 a year to 50,000, while chairman Anthony Ho's annual fees will rise from $40,000 to $75,000.

                    The median fees paid to New Zealand directors are $45,000, according to the Institute of Directors.


                    Quite sickening really and making a mockery of what a stock exchange is meant to do actually do.

                    As I have said before, if you support peoples lifestyle choices and paying people exorbitant salaries for doing 4/5ths of bugger all, sign up for all the shares you can get! How could this ever go wrong???

                    Source: https://www.stuff.co.nz/business/113...ing-at-a-price

                    Comment


                    • #26
                      Originally posted by Moosie View Post
                      $0 Revenue and 0 products, with no legislation for any of it, and already HUGE raises for management and directors already:

                      Meanwhile, the Cannasouth NZX listing will deliver a controlling stake of about 65 per cent of the shares to founders and directors Mark Lucas and Nic Foreman. They will also be eligible for options to buy shares.

                      Their salaries will rise from $80,000 a year to $125,000. Directors Lucas, Foreman and Conor English will take a rise in fees from $40,000 a year to 50,000, while chairman Anthony Ho's annual fees will rise from $40,000 to $75,000.

                      The median fees paid to New Zealand directors are $45,000, according to the Institute of Directors.


                      Quite sickening really and making a mockery of what a stock exchange is meant to do actually do.

                      As I have said before, if you support peoples lifestyle choices and paying people exorbitant salaries for doing 4/5ths of bugger all, sign up for all the shares you can get! How could this ever go wrong???

                      Source: https://www.stuff.co.nz/business/113...ing-at-a-price
                      Despite misgivings around the promoters and all that smells bad about this listing (that I agree with and there's plenty of it), there is the chance that it is oversubscribed on the hype of cannabis as a cure for nothing but an an alleviation of untold painful symptoms, with punters wanting some action piling in.

                      I suspect a spike high on open with a remorse retrace. Decide in haste, repent at leisure.

                      If we however distance ourselves from our personal opinions and bias and look at this purely as to whether we could make a profit, it looks like a stag opportunity, but not unless we have some shares at the open on IPO day, although even that opportunity has now closed. Else we would have to chase the SP up which would grate on our collective concerns preventing us from making a decisive move, hence the opportunity is lost already.

                      This imho is definitely not a good investment right now, maybe never but who knows. But purely from a profit takers perspective, the risk is that this could have (has) come and gone before your eyes without even haven taken part in it, just because of some predisposed opinions. That's opportunity lost.

                      Comment


                      • #27
                        Originally posted by Buzz View Post

                        Despite misgivings around the promoters and all that smells bad about this listing (that I agree with and there's plenty of it), there is the chance that it is oversubscribed on the hype of cannabis as a cure for nothing but an an alleviation of untold painful symptoms, with punters wanting some action piling in.

                        I suspect a spike high on open with a remorse retrace. Decide in haste, repent at leisure.

                        If we however distance ourselves from our personal opinions and bias and look at this purely as to whether we could make a profit, it looks like a stag opportunity, but not unless we have some shares at the open on IPO day, although even that opportunity has now closed. Else we would have to chase the SP up which would grate on our collective concerns preventing us from making a decisive move, hence the opportunity is lost already.

                        This imho is definitely not a good investment right now, maybe never but who knows. But purely from a profit takers perspective, the risk is that this could have (has) come and gone before your eyes without even haven taken part in it, just because of some predisposed opinions. That's opportunity lost.
                        Sorry, but some of us look beyond personal gain and consider morals and ethics before investing. My money does not go towards others bank accounts to help them fleece the next lot of unsuspecting retailers.

                        The individuals involved are well known by the investing community, and their antics well detailed. I choose not to support them in any way, shape or form and actively speak out against them (as many do) to avoid others being burnt by them. This is not a victimless crime - one person gains and another losses, and in an "investment" like this, the odds are not even fair in any way, shape or form. These individuals are not doing our exchange any service by issuing basically free shares to themselves, paying themselves massive salaries and destroying young companies. They are actually taking our exchange backwards when it can least afford it.

                        Pays to look at the bigger picture. It's not all about dollars and cents. Stop and think about it for a few minutes. Is this the road we want to go down? Does your individual gain outstrip the greater good of not supporting these people who do us a disservice and merely line their own pockets?
                        Last edited by Moosie; 13-06-19, 10:36 PM.

                        Comment


                        • #28
                          1400 newly minted retail suckers oversubscribing the offer and paying for others lifestyle choices. A great show of transfer of wealth from many to a few!

                          http://www.voxy.co.nz/business/5/340872

                          A sad day for our markets...

                          Comment


                          • #29
                            Damn. Thinking I shoulda stagged this one.

                            Comment


                            • #30
                              Originally posted by MajorMoke View Post
                              Damn. Thinking I shoulda stagged this one.
                              I don't know MM. Maybe you'll miss out on some easy money. But given this is a 'company' with little more than a few ideas and some high salaries, there's a fair amount of risk involved.
                              A pilot once told me an analogy about flying - 'it's better to be on the ground wishing you were flying, than flying wishing for some reason you were on the ground'. Somehow I feel that analogy fits nicely here.

                              Comment

                              HLG

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