Hi,
I'm wondering if someone has reached out directly to MXC to clarify the recent announcement.
I've just sent the following email to Melissa:
Dear Melissa,
I’d like to enquire about some of the facts stated in the recent announcement from 20 October 2017.
In the announcement MGC states that ”The Company has executed a binding terms and conditions supply agreement for a whitelabel CBD cosmetics products with Korean cosmetics manufacturer, Varm Cosmo” and that “An initial $3.3m in revenue will be received shortly after the receipt of the first quarterly purchase order from Varm Cosmo, which is expected by the end of October 2017.”
However, it also states that “(...), the parties will sign a binding sale agreement in the coming 31 days and will examine further expanding the product range and supply volumes.”
This reads to me that no sale agreement is signed and the currently Varm Cosmo could walk away from the $40 million deal. Can you please confirm this?
Also, could you please provide additional information on Varm Cosmo? There is very little (English) information available online about the company, apart from a recently created landing page (http://www.varmcosmo.com/) that contains very little content. Currently, the lack of information about our “company making” partner creates some concern about the credibility of this deal.
I am looking forward to hearing back from you,
Chris
Disclosure: Sold 50% of my holding yesterday. Looking to confirm some facts before stocking up again.
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