Your making the assumptions that there is something more to say than announced?
CGB clearly said in the announcement that they wanted to pursue the BioHealth deal instead of the proposed aquisition of Medcann because they believed it was the fasted route to revenue.
"Restructure of Transactions and Use of Funds In the interest of shareholders, the Board, in conjunction with Medcan Australia Pty Ltd (Medcan), have agreed to reallocate funds from the longer-term capital investments to investments with a shorter payback period. The reallocation of the use of funds will see significant funding spent directly on inventory and manufacturing and distributing medical cannabis and nutritional hemp products, instead of allocation towards the capital costs of the fit out of a production and GMP manufacturing facility. As a result, the Company will not be allocating any funds in the short term towards the Medcan facility fitout, therefore the Company will also not be issuing the shareholders of Medcan with the 250,000,000 shares to acquire Medcan."
CGB Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
