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Ann: CANNTAB PRODUCTS TO LAUNCH IN AUSTRALIA, page-115

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Neil1959

3,019 Posts.

1933

07/03/21

14:22

Post #: 51581650
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Originally posted by Neil1959 ↑

Hi Zess,

Understand totally and fair points, mate.

Re CannTab and getting to the truth about the delays, I thought there was a good question raised at the webinar, which made me go digging a bit further.

"Can the company clarify the delay in CannTab receiving their export Licence, and is the company engaged with distribution channels to generate sales immediately?"

Sholom answered by saying (paraphrased):

Sholom wished that he could clarify but it was his understanding that the export permit approval was imminent and due any day now.

The company has been very pro-active in sourcing distribution channels and stated that the company, itself, has everything ready and the necessary logistics in place in order to get the CannTab product directly to market once the SKU’s hit Australian shores. There is only one outstanding issue – Health Canada’s approval of CannTab’s export permit.

I went looking for some confirmation about delays with Canada Health.

Australian Source: Cannabiz - Rhys Cohen - 4 Mar 2021
“Flower Shortage hits Australian patients”

https://www.cannabiz.com.au/flower-shortage-hits-australian-patients/?fbclid=IwAR3nK6a65oUcDVy6se8ySx6w6s6UFaBrxKk2jOcddYDKYPcqRiaRZ__M9Ac

SUPPLY
"The challenge is that it often takes three months or more from the time an Australian company requests an import permit from the Office of Drug Control (ODC) to when Health Canada (where most flower is from) issues a corresponding export permit. And this is largely the fault of the Canadians."
"Health Canada can take several weeks – sometimes months – to process and issue export permits. The ODC, by comparison, turns around requests within one or two weeks. And as one company remarked to Cannabiz: “At least with the ODC you can pick up the phone and speak to someone. Health Canada doesn’t care who you are or what the problem is.”

International Source: The Globe and Mail - Joel Schlesinger Nov 9 2020
https://www.theglobeandmail.com/fea...orldwide-cannabis-dominance-on-hold/#comments
"Canada's worldwide dominance on hold”

“When it comes to exports, it’s been a long, strange trip for Canada’s cannabis companies."

"The outbreak of an unprecedented pandemic has made that journey all the more arduous, dampening high hopes of boosting sales abroad, at least for the near term. Given the red-tape challenges – be it Health Canada permits or highly restrictive regulation in export markets."

So Zess, from what I know, have read and heard, I do believe that CGB have no control over the delays and that is all down to Canada Health now approving that Export permit. CGB, from what I understand, already paid for the shipment and have the import permits ready to go.

...59

Expand

Looking further into the operations and management. I was happy to see that the company uses an external CFO organisation, "The Keeping Company".

Just found this online.
https://www.keepingcompany.com.au/a...-cann-global-makes-mark-help-keeping-company/

Sholom did mention during the webinar that they were running a very tight ship with regards to managing administration costs.

As stated in some of my recent posts, I am not very happy with some areas of this business, but if the company is to succeed, they can't stuff it up with their internal systems.

I am very pleased to see an experienced independent 3rd party group has been engaged to manage the financials which will bring in another level of transparency and provide good accountability. Possibly is saving them a few dollars as well by not having to pay a full-time CFO.

...59
Last edited by Neil1959: 07/03/21

CGB Price at posting: 0.9¢ Sentiment: None Disclosure: Held
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