Whilst we are on the topic of MCL
"We are instructed that MCL was a party to an Asset Purchase Agreement dated 2 April, 2015("APA"), pursuant to which a Mr Andrew Kavasilas was required to transfer to MCL a licenceheld by him under the Hl Act and Hl Regs that authorised him under that Act to:
- cultivate low-THC hemp for commercial production and for manufacturing process;.
- supply low-THC hemp for commercial product¡on and for manufacturing process.
This licence is in force until 3 December 2018.
We are instructed that this licence has not been transferred to the Company pursuant to s. 14 ofthe Hl Act so we will assume that it is still in the name of Mr Andrew Kavasilas. lf it has not beentransferred to MCL then the licence must be held on trust for MCL until transferred by reason ofthe obligation on him to transfer it pursuant to the APA.However notwithstanding the above, this licence does not automatically extend to MCL. ln orderfor the QBL Group to obtain the benefit of this licence through its '100% ownership of MCLfollowing the Acquisitions, it will be necessary for a transfer of the same to be effected from MrAndrew Kavasilas to MCL. This may be done by way of a joint application which application willbe treated as if MCL was making a new application.Therefore MCL will need to attend to getting this licence transferred to it under the Hl Act and HlRegs in order to obtain the benefit of the same."
Source = http://www.aspecthuntley.com.au/docserver/02027847.pdf?fileid=02027847&datedir=20180928&edt=MjAxOC0xMi0xMiswOTozNjoyNis0ODArNDM2NDQyK2FuZHJld3dlc3QrcmVkaXJlY3QraHR0cDovL3d3dy5hc3BlY3RodW50bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZnRpbWVvdXQuaHRtbCtodHRwOi8vd3d3LmFzcGVjdGh1bnRsZXkuY29tLmF1L2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=
(p. 14 of the legal opinion section)
Question : Can you confirm whether this transfer from Mr Kavasilas to MCL has been executed as noted above? And is the licence referred to above still in force?
I can not find anything in the supplementary documents that notes that this transfer has occurred since the legal opinion was provided as a part of the 'Recompliance Prospectus' posted on the ASX on 28 September 2018.
Thanks
