Wow I had forgotten what sad entertainment their old company...

First 8 Last

Share
Profile

Follow
Teddyward

10,094 Posts.

1073

29/10/20

15:18

Post #: 48495566
Share

Originally posted by 1goodtrade101: ↑

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.

Expand

Wow I had forgotten what sad entertainment their old company announcements were and ultimately how factually incorrect and not timely IMO.

Probably best to read comments and posts at the time about just what reality of their claims were

Just sad ASIC and ASX are so useless and toothless

Last edited by Teddyward: 1011 29/10/20

AEB Price at posting: 0.9¢ Sentiment: None Disclosure: Not Held
4 Upvote

0 Great analysis

Reply

Top Stories

ASX Market Close: New week sees local bourse snaps 2-day losing streak | July 28

Clarity confidence – and share price – up on bumper $203M institutional placement

Monday's HotCopper trends: Boss guidance, Botanix quarterly | July 28

Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

BOE

Boss tanks -42% after quietly flagging 'potential challenges' for Honeymoon

First 8 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Wow I had forgotten what sad entertainment their old company...

Top Stories

ASX Market Close: New week sees local bourse snaps 2-day losing streak | July 28

Clarity confidence – and share price – up on bumper $203M institutional placement

Monday's HotCopper trends: Boss guidance, Botanix quarterly | July 28

Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

Boss tanks -42% after quietly flagging 'potential challenges' for Honeymoon

Featured News