Ann: Notice of General Meeting, page-7

They haven't found the weed? did they smoke it all? $1.5m??!!
Surely someone has asked this question?


2018-Algae.Tec begins planting its first batch of cannabis crop in UruguayAlgae.Tec Ltd (ASX:AEB) has entered into an agreement to acquire a direct 25% equity interest in Auberna SA, an Uruguayan cannabis producer.As per the agreement, Algae.Tec will invest a further US$1 million (above the initial US$1.5 million deal signed in May) into Auberna, with the new amount to be injected over a six-month period.Importantly, the agreement will provide Algae.Tec with direct equity in a federally licensed commercial cannabis businesses in Uruguay, facilitating access to key export markets globally.Uruguay remains the only federally regulated jurisdiction for both medicinal and recreational cannabis.Algae.Tec is now well positioned to deploy its proprietary growing technology into the rapidly growing global medicinal cannabis market......Perth based Algae.Tec says it expects to receive up to 50kg of high-grade cannabidiol resin and powder from Uruguayan cannabis producer Auberna SA, in the September quarter of this year. According to the company, these products retail for between US$30,000 and US$40,000 per kg and the company is working with a range of wholesalers to arrange supply agreements for them.