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AmbiGuity

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05/09/17

12:13

Post #: 27003312
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Originally posted by smk762 ↑

Re-read ASX announcment dated 27/6/2017

-
Off-take Agreement with Licensed Producer

In addition, UG is pleased announce that it has entered into a wholesale off-take agreement
(the "Wholesale Agreement") with another Licensed Producer (“LP”) for the sale of its initial
100kg of cannabis production for a fixed price of CAD$500,000 (or $5 per gram), subject to
the receipt of the Amendment.

The Wholesale Agreement also includes a right of first refusal for the LP to wholesale purchase
UG’s further production for a period of 12 months.

Subject to the receipt of the Amendment, UG plans to continue wholesale distribution and to closely collaborate with this LP in the medical cannabis market while the Company builds a retail platform for the recreational cannabis market over the next few months."

That 100kg converts directly into $5oo,ooo the second a sales licence is received.

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Indeed, and as per the June update:

Wholesale off-take agreement signed for the sale of first 100kg of cannabis production for CAD$500,000 - upon receipt of ACMPR License amendment.

Therefore the off-take agreement is conditional on the amendment to the license.

MMJ Price at posting: 37.0¢ Sentiment: Buy Disclosure: Held
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