Can we trust in MXC / ERI Management?
We hope MXC / ERI’s Management team and Directors committed to seeing this company to mid-long term success. Recent developments with Cradle Resources (CXX), one of other ventures of their shared parent investment bank, Verona Capital, is an interesting observation. On the cusp of a potential major development for CXX, with the impact to shareholders unknown, the MD has unexpectedly resigned and sold his holdings. This comes after continued assurance of their commitment to this company and the MD’s ‘significant personal investment’ in CXX. Cashed (up) and dashed (away)?
With previous affiliations between the PYL founder and Verona on other ventures, suggests Verona would have been approached for financial backing for the new Medical Marijuana venture? For an investment bank dealing predominantly in Resources, Minerals and Tech ventures, and with no in-house expertise or experience in Biomedical / Pharmacological / Pharmaceuticals, it is understandable that they elected to decline.
Observing the initial success of PYL, the groundswell of global change and acceptance of medical marijuana, this may have been sufficient incentive for Verona to reconsider their position? With the exiting of Phytotech’s MD and with that, the availability of subject matter expertise and access to established industry contacts, one could surmise they identified an opportunity to get-in on a potentially money-making venture.
There's nothing offensive about success and financial gain. We want confidence in their intent. We can but hope and trust (?) the MXC / ERI Management and Directors are genuine in their conviction to develop and bring effective cannabinoid based products to the market, securing long term success for this company and all shareholders. Not exploit for short term gain. The ‘cashup-and-dash’ as has been the outcomes of some other Verona ventures, is not precedent.
As is said frequently; Do Your Own Research – and good fortune to all.
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