I rang and spoke with the investor relations guy at CAN this arvo.
He said that the last 4 weeks have been tough in the weed industry becsuse the expected sales for recreational use have not been as high as anticipated.
He said that the Mildura facility has a completed green house building but has not been fitted out.
Apparently the board is looking at how big the market for the Mildura product will be and is trying to right size the fit out accordingly.
The agreement with Aurora does not guarantee any set level of product sales - only that Aurora has first dibs on any product if they want it
The investor relations guy also seemed to imply that the financing from the bank is not yet a done deal so we must wait and hope.
So as some have suggested it’s pretty ugly at this stage. Hopefully they can emerge and be successful but with the liquidity runway getting shorter by the day, my view is we are going to need things to fall into place.
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