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A Look at the Next Big Cannabis Holdings Company to Hit the TSX-V

March 26, 2018

 

With the recent news of Cronos Group Inc. (TSXV:MJN) (NASDAQ:CRON) uplisting from the OTC markets, to Nasdaq for the U.S listing of the company's shares, many investors have been scrambling to find the next big holdings company with multiple ACMPR license holders under its umbrella that isn't trading at over $8.00+ USD per share.

 

When looking around, one might come across a privately held Canadian company named GreenTec Holdings LtdGreenTec is based out of Kelowna, British Columbia, and it's business model is to, "identify and consolidate licensed producers of craft cannabis brands, which GreenTec believes will be the purveyor to the retail market in Canada and internationally."

 

The company currently has six wholly owned subsidiaries:

 

 

GreenTec recently increased the total size of it's private placement from $6,000,000 CAD, up to $7,800,000 CAD. The offering was done through the sale of "Subscription Receipts" to accredited investors, with each subscription receipt being sold for $1.50 CAD each. 

 

Each one of the aforementioned subscription receipts would entitle the holder to one unit of GreenTec consisting of one common share of the company's stock and one-half of one common share purchase warrant, with each underlying warrant being exercisable into one common share at a price of $2.50 CAD. These warrants would expire after a period of 24 months. 

 

GreenTec Holdings Ltd. and Black Birch Capital Acquisition III Corp. (TSXV:BBC.H) announced this recently that Black Birch will acquire all of the issued and outstanding shares of GreenTec. Allowing Greentec to reverse merger into the TSX Venture exchange listed capital pool company. As part of the transaction Black Birch’s outstanding common shares will be consolidated on a twelve for one basis. Shareholders of GreenTec will receive Black Birch Shares in exchange for their common shares of GreenTec at a 1:1 ratio.

 

As news on GreenTec develops, we will make sure to cover it here on The DMO. Only time will tell whether the company has the ability to compete on a global scale with the stiff competition from the major licensed producers like Aurora, Canopy, and MedReleaf up in Canada today.

 

To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, and Instagram!

 

 

D/M/O

 

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