What does this mean?
The balance of the C$1m down payment for the first order under the SupplyAgreement, of which the first instalment already been transferred to MGC byCannaGlobal, will also be extended by the agreement to the same date.
So the payment has been extended but MXC have received a portion of the amount? 1%? 10%? 20%?
There's a few things at play here that do give me confidence. The first is that we have a statement from Lorne Gertner supporting the deal. Pretty positive. Certainly didn't have anyone of his stature commenting on the VC deal. The second is the epic expansion of Cannabis stores in Canada. 110 stores started trading on the day cannabis was legalized. It's a booming industry and it makes sense for Cannaglobal to complete the transaction. I have purchased the Derma products for my wife and she speaks very highly of them. As I said in my earlier post, I will remain confident until the 31st. A delay was very likely; 10 days isn't enough time to complete the legalities of the deal imo (stop giving stupid timelines would be my advice) but it does sound like some money has been paid based on the statement I posted at the beginning.
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