Ann: THC Global Launches Share Purchase Plan, page-37

First time poster...long time lurker.
Disclosure: between THC and THCO i hold in excess of 1 mil units so i have plenty of skin in the game.
This SPP worries me on a number of levels.

1. It's being called an SPP and carefully avoids the issue of being labelled a CR.
2. Apart from the potential $15k on offer to 6000+ shareholders (theoretical value in excess of $90mil) there is NO mention of how much the company is looking to raise.
3. There is no mention of what this alleged cap raise is for.
4. The 'Allotment and Issue of New Shares' is slated for two days after the escrowed shares hit the market.
5. There was an inexplicable jump in the SP to 63c on good volume last week which did little more than bump the 4 day weighted average up to a level which makes this offer look attractive.

My fear is that this is nothing more than a way for the directors and major shareholders of THC to dump a large parcel of their free/very cheap shares on the market ( ie...us) at a fixed rate.
That means there would simply be a transfer of shares - there would be no CR and no change to the company register in terms of the number of shares in the market.
The offer has been described as a chance to purchase new shares but does this refer to the shares being new to the buyer or new to the company register ?
I find it deeply disturbing that management has 3 weeks to basically test the waters and see how many 50c shares they can flog just days before they all come out of escrow and that the numbers are solely at their discretion.

Chairman, Steven Xu commented: “With this Share Purchase Plan we are offering our loyal shareholders the opportunity to purchase shares at a discount to the current market price, in advance of the expected final licensing required to transition into full-scale medicinal cannabis production."

Even this could be vague enough to describe the scenario outlined above. That this marvelous offer is a 'gift' from the directors/major shareholders to the loyal masses.
I sincerely hope I've got this all wrong...