"IMO their Asian expansion has one goal...keep their income alive as the rest of the company falls to pieces. Quickly set up a company (cgb Asia) we can retain an income from and the other company (cgb) will fall away with shareholders getting nothing! Watch and see IMO this is the outcome."
This has also peaked my interest, why go to all the expenses and time to relist under the new name Cann
GLOBAL Limited - surely to word Global would encapsulate / include / cover Asia?
From the Ann dated 28th October 2019
Deed of Agreement signed with Sun Agriculture Promotion Industry And Commercial Co., Ltd Asia Lao PDR
The Board of Cann Global Limited (“ASX: CGB”, “the Company”) is pleased to announce that it is expanding the Company’s current APAC/Asian presence and business activities, and has incorporated a further Asian focused subsidiary, Cann Global Asia Pty Ltd (“CGA”).
CGA will focus on:
• Undertaking legal broad-acre Industrial CBD hemp cultivation and processing, and
• Legal Indoor Cannabis cultivation and processing operations in South-east Asia.
• Cann Global Limited holds a 55% majority shareholder position in CGA.
• David Evans and Christopher Waldron, CGA’s management partners, each hold 22.5% minority shareholder positions respectively.
Page 5
“The Board has been waiting for the approval processes to complete, operation facilities / properties to become available and necessary licenses acquired to move into the next stage of
our operations by bringing online
our ‘third’ developing vertically integrated business and new subsidiary, Cann Global Asia Pty Ltd."
@CGBrepAs noted in the Ann this new entity is / will be a private entity (PTY LTD) as
AGMPL is.
I assume David Evans and Christopher Waldron will be Directors with a holding of 45% between them.
Who is or / will be the director / Directors of the remaining 55%.
Will it be
Cann Global Ltd as a company or will it be one of / or some of our current directors?
Could please put this question to the directors of both CGB and AGMPL.
Thanks in advance
