EPN (ASX) Email from Ian Mutton

Originally posted by Marveliyas ↑

Did anyone receive an email like this yesterday date 10th of march.

Dear Shareholder, There has been much commentary about THC; some of it uninformed. Let’s be clear on some key points. I replaced Mr Beasley as chairman in October 2017. I did so at the request of all other directors. • At the time the share price was 20 cents. • When Mr Beasley issued a notice of intention to call an EGM the share price was 71.5c cents. Whilst I have been in the chair and with the enthusiastic support of most of the Board, THC has: • Assembled an effective executive team. • Added to its licence to carry out research and development, a licence to cultivate crop. • Completed its Research and Development facility in Bundaberg. • Applied for a licence to process crop into marketable product in Australia. • Opened discussions to export product to Canada • Concluded agreements with BOL (of Israel) and Endoca (Europe) to source product for resale in Australia. • Concluded a non-binding agreement (i.e. subject to due diligence) to acquire a distribution business in Canada with the indicated potential to deliver revenue of >$25m pa. • Concluded a licence with National Access Cannabis of Canada to acquire the “know how” needed to roll out clinics to service the market across Australia, on favourable terms • Developed a program to establish clinics across Australia that can service Australian consumers. • Started the recruitment of the people needed to roll out the clinics. • Raised $11m to fund growth It is said that our costs have risen. They have! What else would you expect from a company intent on building its business. Much has been said about “governance” – simply put, neither ASIC nor the ASX have reported concerns in relation to matters raised by Mr Beasley. The present Board has built growth momentum – if you believe in growth, if you believe that the greatest value steps come from seeking to gain by being the first mover – then this is not the time to change the board – you should vote against all motions that are being put forward at the EGM. Warmest regards Ian Mutton

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Yes, I’m sure everyone got it...

It does contain some inaccuracies unfortunately for mutton chops...

The BOL and Ebdoca deals were signed off by Beasley and were from previous management efforts from what I can recall.

Price of shares went up because the previous managements efforts to get second licence came to fruition under new management and medicinal cannabis shares went through the roof for many other companies at the same time because the cannabis sector went red hot...

Nothing to do with new management team...

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Email from Ian Mutton, page-3

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Email from Ian Mutton, page-3

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