Also, the announcement said "MXC to sell 100% of MGC Derma for C$12.5m in Cannaglobal equity, C$2.5m loan repayment to MXC and a 5-year CBD and cosmetic materials supply agreement"
Here the word used is equity, not cash or cash equivalent. In other words, 2.5m loan repayment + 10m worth of equity. However, who valuate the value of this 10 millions of equity? are they tangible assets or non-tangible assets? No one know. It can be 10 millions worth of "Goodwill" for argument's sake!
Furthermore, that 2.5 millions loan repayment doesn't mention whether it's payable over 1 year ? 2 years? or 30 years?
All in all, investors need to be very very cautious about this deal. Everything seems abit susp to me.
AIMO DYOR
Ann: Sale of MGC Derma to Strategic Partner Cannaglobal Canada, page-87
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