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BREAKING: Hollister Biosciences Signs Letter of Intent to Acquire Venom Extracts With $16.4 Million In Revenue And $2.48 Million EBITDA

HIGHLY ACCRETIVE $20,000,000 ACQUISITION

  • Venom is one of Arizona’s premier extract brands and one of the state’s largest producers of award-winning medical cannabis distillate and related products
  • Venom reported having generated CDN$ 16.4 million in revenue and CDN$ 2.48 million in EBIDTA from its product line of Cannabis Concentrates, P.H.O Concentrates and Cartridges

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Message: A new worry

Would people feel better if Suresh was appointed as a director in the new company? That is very typical of the kinds of relationships that occur when one company buys the operation of another company and  forms what I  consider to be a joint venture type relationship. I have no idea of the management/board structure of the new company but I have a really hard time getting worked up about the concern being voiced. Suresh has 18 million POET options more than any other management person. That is a pretty extreme vested interest. His end game is clearly to make POET a commercial success and gain the benefits of those options. I mean I was surprised by him putting down $100k to buy into the debenture when he owns so many POET options.

I don't think he is about to throw all that away to work in China. My son worked in China for 5 years and he is so happy to be back. It is not a fun place for an expat to live.

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