CPH
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0.00% 0.9¢ creso pharma limited

Ann: Update on Price and Volume Query Response, page-69

  1. Tradingasx
    1,099 Posts.
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    28/11/21
    17:55
    Post #: 57916692




    t was always hard to see Sydney deal maker and Everblu Capital Adam Blumenthal continuing to also chair pot stock Creso Pharma after he and Everblu were raided by ASIC. Particularly after Creso informed the bourse on Thursday that it had three days earlier been approached by ASIC to produce documents relating to said investigation.

    Lucky for Creso, it had Dr James Ellingford in the wings.

    As we’ve, Creso’s new chair Dr Ellingford earned his doctorate in management at Revans University, by the Times Educational Supplement as a-then unaccredited, nominally British online university based in Vanuatu.

    The rest of his biography refers to his professional life having “culminated” in his leadership of an “international publicly listed billion-dollar business”. Which, despite its extraordinary vagueness, is actually the case.

    Ellingford spent years as a board member and managing director of Take Two Entertainment, the video game company behind iconic series Grand Theft Auto. Weed, incidentally, plays a role in the plot and mechanics of several GTA games, which could be seen a precursor to Ellingford’s present involvement with the cannabis industry

    Ellingford’s other ASX directorships in recent years include Pursuit Minerals, MinRex Resources, Hardey Resources, Manalto Limited, Roots Agricultural Technologies and Victory Mines. Funnily enough, all have been clients of Everblu. In 2017, Manalto assured the ASX that Ellingford wasn’t on Everblu’s payroll.

    At Creso in 2020 alone, Everblu’s role as the lead manager on a debt raising earned it $200,000, 6 per cent of all funds drawn, 4.5 million shares and 12 million options. So while Ellingford may not be on Creso’s payroll, it’s certainly on his.

    CPH Price at posting: 9.9¢ Sentiment: Sell Disclosure: Not Held
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