@ddpowerup - Oi, I've taken you off 'ignore' for now to invite you to try and defend this ! You claim to be a shareholder yourself and have been attempting to ramp the crap out of the company from the moment you crawled out of your hidey-hole, so come on then...
Retail investors have to pay 0.005 (with a chance of getting them at 0.0045) and yet they give 600m away at 0.003 (work out the discount % yourself) in and 'unsolicited' placement when there is already almost $10,000,000 in the bank and absolutely no need to dilute shareholders when just yesterday they claimed in the 4C that they have funding for another 5 YEARS ! This is totally irresponsible !
Let me give you a pointer on how it should be done..
Recently, another medical cannabis company (ZL*) took on a new investor which they didn't really need (also 'unsolicited') and could have bought on-market just to be a shareholder. However, this new investor offered a premium of +50% on the s/p at the time !!! Of course it was accepted and although there was an amount of dilution to shareholders, those investors will not 'be in the money' until the sp obviously exceeds their buy-in price.
What CGB have just done is absolutely unacceptable and should be investigated by, at the least, ASIC !
CGB Price at posting:
0.4¢ Sentiment: Sell Disclosure: Held
