Hi Kristopher,
Thank you very much for your email.
Please see below replies.
Wishing you and all of us much success for 2019!
Sholom
On Mon, 10 Dec. 2018, 2:14 pm
Hi Mr Feldman.
I would like to ask a few question I apologize for my grammar and punctuation.
Q1. Has Cann Global Limited got any new products on the horizon we know there was talk of Hemp Honey, Hemp Milk and I even seen Hemp water on the news the other night are any of these products a possibility in Cann Global Limited near future.
Yes we will be coming out with new products, keep a look out for these releases after the relisting.
Q2. How is the crop going since installing the irrigation system and how far away is the next harvest.
We won't know results of the harvests until around March. We will update the market once we have the information. Our farmers are confident that this season will be a positive one.
Q3. Has there been indoor growing how much and what is its uses.
Indoor growing is only done for the medical, this is the responsibility of Medcan, and the completion of the fitout of the Medcan facility will take place after the relisting as detailed in the prospectus.
Q4. How has sales been with Vitahemp since the new Alibaba deal and I guess have we made any sales with this new connection with Alibaba, also has there been any sales in International Health Food.
Sales we can only update the market through the appropriate ASX announcements platform, keep a look out for our regular ASX announcements and reports, particularly the quarterly reports.
Q5. I have two prospectus below the top from the first Prospectus and the bottom one from the latest Prospectus, my question is are all parties satisfied now or will expect more prospectus as the two Prospectus below seem to want a little more or change theoriginal, is everyone now satisfied so Cann Global Limited begin there Fresh New Start.
We are hoping that we get the approvals from the ASX this week and we won't require any further prospectuses!
The extra shares for MCL were simply for extra money that MCL recently raised independently of QBL, to invest further in the MCL business, to continue developing the businesses until QBL completes the takeover of MCL upon the relisting.
Thanks for your time and all of Cann Global Limited have a great Christmas and happy new year.
Thank you, and you too!
I also give permission to post this on Hotcopper through Neil1959
2. MEDCAN AUSTRALIA PTY LTD
2.1 Update on additional Medcan licences
As announced by the Company on 9 October 2018, in addition to the licences
currently held by Medcan (which are detailed in Section 10 of the Prospectus),
Medcan has been granted Medical Cannabis Manufacture Licence ML15/18 by the
ODC. This licence will allow Medcan to manufacture its range of products in
accordance with the licence.
Medcan has also secured a Queensland Health licence allowing for the storage of
Schedule 9 substances, including Cannabis seeds, and a Department of Agriculture
and Water Resources (DAWR) Permit allowing for the importation of plant materials,
specifically cannabis seeds.
2.2 Updates to Medcan Agreement
(a) Remuneration of Medcan Management
The Medcan Agreement has been amended so that the remuneration
payable to Medcan management under the terms of their proposed two-
year management agreements, as outlined in Section 14.2(e) of the
Prospectus, may include a cash element.
During the first year of the term, the remuneration will be the greater of:
(i) a quarterly issue of 1,250,000 Shares (being 5,000,000 Shares per
annum) and $250,000 in the case of Craig Cochran; and
(ii) a quarterly issue of 1,000,000 Shares (being 4,000,000 Shares per
annum) and $200,000 in the case of Gareth Ball.
2. AMENDMENT TO MCL OFFER
The Company will be increasing the number of Shares to be offered under the
MCL Offer by an additional 3,806,978 Shares (increasing the total amount under
the MCL Offer to 1,216,664,121 Shares) due to additional investment in MCL since
the lodgement of its Prospectus.
Accordingly, the Company makes the following amendments to the Prospectus:
(a) A total of 1,216,664,121 Shares will now be offered under the MCL Offer.
(b) The total Shares on issue following completion of the Offers will now be:
(i) minimum subscription: 3,221,667,113 Shares; and
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