ASX Today, page-86

The problem is the "long-term"... let's look at the PANAX timeline...

	Column 1	Column 2	Column 3	Column 4	Column 5
0	27/04/2016		MXC to Acquire Licensed European Medical Cannabis Company	4	PDF

	Column 1	Column 2	Column 3	Column 4	Column 5
0	10/05/2016		ASX Approval of Panax Transaction and Capital Raising Update	2	PDF

	Column 1	Column 2	Column 3	Column 4	Column 5
0	15/06/2016		MXC's First Crops Planted at European CBD Production Farm	3	PDF

Panax gets a mention in the 15/06/16 announcement still continuing due diligence and some crops planted (but, did we ever hear about these crops? what happened to them? what was the CBD/THC yield? etc)

	Column 1	Column 2	Column 3	Column 4	Column 5
0	15/12/2016		New Panax Acquisition Agreement Signed, Settlement Imminent	4	PDF

Oh shit.. still haven't completed due diligence.. let's announce a new agreement signed and settlement within weeks! umm.. 6 weeks have pasted :-(

I sold out as I don't have faith and after digging around to find out more about PANAX the company..

Here you go:

http://rejstrik.penize.cz/ares/02880962-panax-pharma-s-r-o

Incorporated in 2014; seems to have two main people and then I did a street view on the address "Praha - Nové Město, Ve Smečkách 1258/6, PSČ 11000" lovely shot of a shitty looking building that doesn't look like a growth facility to me. I'm also very perplexed why such a small takeover is taking so long to complete due diligence. I've seen billion-dollar takeovers take less time in DD.

Anyway, this is my own research - DYOR. I'm happy with my sellout and i'll now watch from the sidelines to see if I should eat my words

GLTAH!