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BREAKING: Mota Ventures Signs Letter of Intent for Merger with Stillcanna

  • Stillcanna looks to become one of the largest producers of THC-free CBD extracts in Europe
  • Stillcanna's Polish extraction facility, NEXUS, features industrial-scale centrifugal chromatography equipment that allows for the production of bulk THC-free CBD distillate as well as custom Cannabinoid profiles
  • In February 2020, Stillcanna's Romanian extraction facility, ORIGIN, which operates pursuant to a joint venture between Stillcanna and Dragonfly Biosciences Ltd., received approval from the Ministry of Health and the Anti-Drug Agency to become the first government recognized extraction facility in the country
  • To date C$23,000,000 has been invested by Stillcanna in the cultivation and extraction operations,
  • Current cash on hand in Stillcanna of approximately C$7,000,000
  • Stillcanna's CBD extracts are key to unlocking additional value in Mota's retail offerings in Europe
  • Shareholders of Stillcanna would receive one common share of Mota for every 1.8 common shares of Stillcanna held at the time of exchange

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Hub On AGORACOM / Read Release

 

Message: Hammer time? We're over the 100dma....

What amazes me is that the share price just went up 10% on the purchase of about 25,000 shares.

Meaning, somebody(ies) just increased the value of the company $25MM by buying (via market order?) ~$30k worth of shares.

Makes no sense to me, but what do I know?

 

Edit: Wow, already back down by the time of writing...

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