Working capital for the marijuana and sea-grape division to get both up and running, if you look at the announcement. So it's not to takeover another cann co.
I would really like to know who these shares are going to. Guess there will be a substantial holder announcement at some point.
Is it part of Rosen's network, or Stephensons in Israel...?Independent DirectorMR PAUL STEPHENSON
Mr Paul Stephenson was a partner in the Sydney Office of HWL Ebsworth Lawyers (HWLE) for thirteen years before retiring from the partnership in 2017. Mr Stephenson remains a consultant with HWLE and is also a foreign (Australian) lawyer with Israeli law firm Afik & Co. Mr Stephenson divides his time between Australia and Israel.
Mr Stephenson specialises in public and private equity fundraising, initial public offerings, backdoor listings and reverse mergers (both in Australia and the United States), and mergers and acquisitions involving both private and listed companies. Mr Stephenson has experience in a large number of industry sectors including the cannabis industry. Mr Stephenson has acted on many cross border transactions and has expertise in equity capital markets and M&A transactions involving the USA, UK, China, Indonesia, Singapore, Malaysia, Hong Kong and Israel.
Mr Stephenson brings his extensive corporate experience to the Board at the time the Company is looking to expand its business operations in the cannabis sector, including, potentially, by way of joint venture and acquisition. Mr Stephenson will leverage his network in Israel to seek potential business opportunities for the Company in the cannabis sector. Mr Stephenson will also bring his corporate experiences and connections in Israel to bear in helping SCU leveraging its plant stem cell technologies and expertise.
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