Morning All
I found some articles as well.
This paragraph is taken from the '
Company Transformation Announcement' posted by QBL.
"
Craig Cochran is an early mover in the Australian and International Medicinal Cannabis industry, Craig has an in-depth knowledge and understanding of current Australian and global legislation, licensing and regulation. With a focus on patient access, Craig has dedicated years to understanding the needs of individual patients. With a network of contacts through Australia, Canada, Europe and the USA, Craig has an ear to the ground understanding of both local and international Medicinal Cannabis market trends, business models and access pathways."
This is Mr Cochrane's
Linkedin profile.
https://au.linkedin.com/in/craig-cochran-2a232a79
Ok ... fair enough at face value. However, it is worth asking some questions - I think.
Questions.
1. Where did someone with martial arts experience (i.e. Director : Infinity Martial Arts) and a background in air-conditioning, (Director : Instant AirConditioning and Electrical for the previous 10 years) acquire, "...
in-depth knowledge and understanding of current Australian and global legislation, licensing and regulation."?
On what grounds can QBL claim in their announcement that this person has "...
in depth knowledge of current Australian legislation?
And global legislation? A specialised area of jurisprudence - indeed!
It would be difficult to list exactly how many different laws (both international and domestic) would be associated with the movement of medicinal cannabis across international borders!
2. Mr Cochrane's education is listed as a
Certificate 4 in electrotechnology and a
Bachelors Degree in Mechanical Engineering. Again, where is the experience in MM to come from? Particularly in the area of "
patient access"? What precisely does that refer to?
3. If - the cap raise price is to be lowered - will the deal with Medcan still reach the ~8% of the 'final merged entity' for the vendors? I cite one part of the deal as it is noted in QBL's announcement, "
Upon completion of the acquisition, and the Company's proposed acquisition of MCL, this will represent an approximate 8% shareholding in the final merged entity (see part two of this announcement for further detail)."
4. Is the 8% shareholding, in the 'final merged entity', based solely on the issue of 250,000,000 QBL shares at a price of $0.08c? If so, how will this satisfy the Medcan vendors when the market price is $0.037c? Or, will they be given in excess of twice the amount of shares to establish the 8% shareholding in the final merged entity?
Keeping in mind that, "
f the Conditions are not satisfied or waived by 31 August 2018, the parties may terminate the Medcan HOA by written notice to each other."
I would have thought that 'consideration' (payment) equalling 8% of the final merged entity a rather important condition to the vendors. Yes?
5. Are there any contingency plans for the cap raise if the market price remains at current levels?
I would encourage all to read (that's what the announcement is for really - for all to read) the conditions associated with the HOA. For those not so inclined to do so - the Medcan deal, from what can be ascertained from the announcement, is not unconditional.
There is much work to be done and a few hurdles to overcome. I hope for all holders that the work and the hurdles are overcome.
References.
http://www.abnnewswire.net/press/en...ompany-Transformation-Announcement-93547.html
https://au.linkedin.com/in/craig-cochran-2a232a79
Thanks
