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Started: mandala72, 11 Oct 2020 17:22
Last post: mandala72, 11 Oct 2020 17:22
https://www.***************************/sativa-wellness-secures-significant-product-listing-with-the-health-store/412862826
Because we simply have had two thirds of our shares removed due to the merger. Outrageous really. I could understand it if we had been taken over, but the reverse is true. Daylight robbery! That said, as we were there was no movement at all, at least now there is a better chance of a rise in SP. Unfortunately we will need three times as much movement as we did previously to just break even. It seems a shody way to treat those LTH who stumped up the money in the early days to prop the company up as they were being established. Like a previous poster said they need 600% to break even. I'm not far off that myself. Strangely, getting in early here will prove to be a disadvantage. You could buy all my shares right now for a third of what I paid. GLA!
The approximate bid price before the previous listing was cancelled was 2p. The current quote on AQSE IS 3p-6p. So with a 2/3 reduction in my shares, I am worse of now . How come
No. Your old Sativa shares reduce by 2/3
Circular states that each Scheme Share for 0.33507 Stillcanna Shares
Does the number of shares I hold be reduced by a third
Started: 10Guitars, 17 Sep 2020 17:57
Last post: 10Guitars, 1 Oct 2020 22:31
This was my first investment off the back of the greenhouse grow licence news. Looked good to begin with but as soon as they announced that wasnt going ahead thats when i started thinking. However, decided to hold on and see what happens, luckly the loss on this one has been covered by another. (NYCT, i got in at 55p back in feb and its doing ok now). Wait and see what happens i guess with Sativa! Fustrating HL app doesnt give live prices, but i agree, untill a lse stativa wellness board becomes live, we should stick to this one.
IMO DYOR GLA
Holding on for a 600% rise to break even. Ever the optimist.
Yes mine too. Also significantly reduced. So are we remaining on here or is there a new SWEL page on LSE? Can't find one. Difficult to keep up to date with the price and trades right now. Anyone got a solution? The price did shoot up to 0.22cd briefly yesterday but came back down immediately. Currently at 0.11. Anyone any idea of volume? More to the point is there any of us left here?!
In case anyone interested, it is now showing on my HL app, SWEL.
Share holding reduced, by a third or so, and a CAD price converted to GBP.
And a massive drop in value!! Oh well hold and see I guess
GLA
No idea what the future holds but, will be wathing with interest tomorow.
GLA
Started: eddo12, 1 Oct 2020 11:20
Last post: eddo12, 1 Oct 2020 11:22
Sorry for fat finger typos
Has anyone read reports of Sative equipment in Poland being sol off? And no crop planted for the second year?
Getting basty feeling about thus, hope it's not true.
It is the other way round. Its a reverse takeover.
I'd not seen that... Very interesting. Let's hope this development is reflected in the share price! I'm still smarting a bit about having my holding slashed by two thirds, but I guess it's better to have a smaller piece of a bigger pie! I'm still unsure why we were taken over and not the other way around? We've retained the name, the board is our board and it looks very much like the sati team are in charge? I'm sure there is a good reason. Finally good a good feeling about this... It's taken a while, but looks like this could be big.
Very*
Expecting big announcements once completed. Contract with Brains bio received every little attention when initially announced. Share price did not budge....exciting times.....
Exciting looking updates... What do we think the opening price will be? As we we're, higher or lower..... Anyone know how the price is going to work being on two markets?
Started: mandala72, 8 Sep 2020 20:25
Last post: mandala72, 8 Sep 2020 20:25
Started: Bigjock1975, 2 Sep 2020 20:21
Last post: Bigjock1975, 2 Sep 2020 20:21
The new name is going to be Sativa Wellness Group inc. I hope this all works out good in the future it's still early days in the cannabis space in the uk fingers crossed good luck everyone I'm in for long run
Started: 10Guitars, 1 Sep 2020 16:17
Last post: eddo12, 1 Sep 2020 21:45
Thanks for that 10Guitars .
Spoke to HL today. They told me that the sativa listing will reappear on their ap on the 15th of September. I imagine under the StillCana name
Started: mandala72, 26 Aug 2020 17:52
Last post: 10Guitars, 31 Aug 2020 08:54
Just checked me hl shares. SATiVA has disappeared,,,, Panic!!!!
I imagine the HL selling costs will be sky high.
I spoke to HL refarding this and they told me that they dont do still canna shares but will just use a third broker that does and therfore will continue to hold them. We may not be able to see them on the app but they will be holding them under the still canna name them i believe l. You just have to rinf them to sell, buy check up etc
Yes, selling at 2p would hurt.....May as well stay in for the long haul! Canada so big on cannabis products, you have to say this is a good thing! Here’s hoping!
This was my understanding, that there would be a joint listing and they would remain on the new version of NEX exchange, whatever its called. I have heard nothing from HL so assume they are OK with it?! I would be seriously upset if I had to sell at 2p with an average price of 6p...we keep getting stung here, by I'm holding on for a rise sometime in the future. Fundamentals seem good, and money coming in... Just a very slow burn. Hope I'm right!
Last post: Barabus, 23 Aug 2020 11:52
Received the options! No nothing about holding shares overseas! Any advice, or should I just bail out?
I received exactly the same email when I enquired about the take over. Looks like it's the standard fob off for pesky PIs. Disappointing really.
Good afternoon Kevin,
Here are some bullet points that our CFO, Joseph Colliver, has put together.
o Subject to shareholder and regulatory approval of the takeover, Sativa shareholders will receive shares in Stillcanna Inc., in exchange for their shares in Sativa Group Plc. No payment will be made to individual shareholders.
o Each Sativa share will be exchanged for 0.33507 shares in Stillcanna Inc. – this is referred to as the ‘Exchange Ratio’.
o Sativa shareholders will own 65% of the combined company.
o The Sativa board and leadership will manage the combined business with Henry Lees-Buckley as the CEO.
o Shares will be traded on the Canadian Stock Exchange in Canada. This market is a leading market for stocks in this sector.
o Stillcanna Inc. is currently in the process of listing on the UK AQSE exchange. This will facilitate easy trading of the combined company shares in the UK. The expected timing of the listing is estimated to be at the time of the closing of this transaction, or shortly thereafter.
o 78% of current Sativa Shareholders have provided irrevocable proxys in favour of the transaction, which is above the 75% requirement.
o The Sativa Board has unanimously voted in favour of the transaction.
o The transaction is expected to close in early August once shareholder and court approvals are completed.
o Sativa shareholders are free to buy or sell their shares in Sativa up to the Scheme Effective Date, unless they have signed an irrevocable undertaking to pass on their shareholder vote via proxy to the Company.
o Shareholders will be able to trade shares in Stillcanna on either the CSE or AQSE via a Depository Interest. In summary, it will work exactly as it does now – you will call your broker to buy and sell Stillcanna shares as you do today with Sativa shares.
Should you have any further questions, please do not hesitate to contact us.
Sativa Group PLC
Last post: Belmont00, 11 Aug 2020 13:00
Good afternoon Kevin,
Here are some bullet points that our CFO, Joseph Colliver, has put together.
o Subject to shareholder and regulatory approval of the takeover, Sativa shareholders will receive shares in Stillcanna Inc., in exchange for their shares in Sativa Group Plc. No payment will be made to individual shareholders.
o Each Sativa share will be exchanged for 0.33507 shares in Stillcanna Inc. – this is referred to as the ‘Exchange Ratio’.
o Sativa shareholders will own 65% of the combined company.
o The Sativa board and leadership will manage the combined business with Henry Lees-Buckley as the CEO.
o Shares will be traded on the Canadian Stock Exchange in Canada. This market is a leading market for stocks in this sector.
o Stillcanna Inc. is currently in the process of listing on the UK AQSE exchange. This will facilitate easy trading of the combined company shares in the UK. The expected timing of the listing is estimated to be at the time of the closing of this transaction, or shortly thereafter.
o 78% of current Sativa Shareholders have provided irrevocable proxys in favour of the transaction, which is above the 75% requirement.
o The Sativa Board has unanimously voted in favour of the transaction.
o The transaction is expected to close in early August once shareholder and court approvals are completed.
o Sativa shareholders are free to buy or sell their shares in Sativa up to the Scheme Effective Date, unless they have signed an irrevocable undertaking to pass on their shareholder vote via proxy to the Company.
o Shareholders will be able to trade shares in Stillcanna on either the CSE or AQSE via a Depository Interest. In summary, it will work exactly as it does now – you will call your broker to buy and sell Stillcanna shares as you do today with Sativa shares.
Should you have any further questions, please do not hesitate to contact us.
Sativa Group PLC
Started: 10Guitars, 23 Jul 2020 09:38
Last post: Showmethemulaa, 6 Aug 2020 18:11
Still get a feeling we will be golden, Stillcanna have a big share of the distribution. Bit concerned with the silence, reckon Dragon Fly are salty with Sativas share.
Well wasn’t expecting that! Think we may well have to write off our investments. As a company their lack of information to investors leaves a lot to be desired!
What is indeed going on?! This does not sound good... But from what I can gather the take over is going through. Anyone heard anything?
Ok, think we need an annoucement from the company. What the bloody hell is going on???
I spoke with the Lady on the helpdesk / reception , what a lovley helpfull , patient person !!
Thanks Willowman, i do get their email alerts but , they are sparce lately . will call the Lady and pick Her brains ;-)
Eddo12, what I did was contact Sati by email.
The admin is a lovely lady who will respond to you.
I also signed up for their email alerts.
Regards WM19
August i believe
Frustrated by lack of , info / news.
Shes ticking up nicely
Started: Stelavb1978, 10 Jul 2020 08:24
Last post: Stelavb1978, 10 Jul 2020 08:24
Cheers for that Puffer
If the deal goes through 1 sativa share will be worth a third of stillcanna share and stillcanna shares are around 10 canadian cents ie 6p, or 2p a share
Started: Olly8850, 4 Jun 2020 12:35
Last post: 10Guitars, 5 Jun 2020 01:07
I spoke to HL and they told me that i will be notified of any votes, offers throught them (HL). If SATI gets bought out then they will continue to hold our converted canna shares via another broker.
Me too. I've sent a secure message asking HL. I'm guessing that as StillCanna shares are worth 10p, then the price for Sativa shares should be around 3.3p but no doubt there'll be charges taken out that if HL can trade Canadian Stock Exchange shares. Fortunately I didn't put much in, I'm not holding out much hope of getting a lot back.
I have bought Sativa shares through HL. What do I do just leave them and they will convert to the new merger company?
I can see today that they are being traded still under Sativa?
Started: extraguac, 3 Jun 2020 18:33
Last post: extraguac, 3 Jun 2020 18:38
The board seems to be censoring "**************" throughout for some reason.
Sorry the cut and paste didn't work . Misssing section shouldread "The Offer is a share for ************** offer at a ratio of 0.33507 New Stillcanna Shares in exchange for each Scheme Share (the "Exchange Ratio").
Recently released announcement. What are your learned opinions?
RECOMMENDED ALL-SHARE OFFER for SATIVA GROUP PLC by STILLCANNA INC.
TO BE IMPLEMENTED BY MEANS OF A SCHEME OF ARRANGEMENT UNDER PART 26 OF THE COMPANIES ACT 2006
Summary
· Further to the announcements made on 22 April 2020 and 20 May 2020, the boards of directors of Stillcanna Inc. ("Stillcanna") and Sativa Group plc ("Sativa" or the "Company") are pleased to announce that they have reached agreement on the terms of a recommended share for ************** offer to be made by Stillcanna for the entire issued and to be issued share capital of Sativa (the "Offer"). It is intended that the Offer will be implemented by way of a Court-sanctioned scheme of arrangement between Sativa and its shareholders under Part 26 of the Companies Act 2006 (the "Scheme").
· Stillcanna, a Canadian company listed on the Canadian Securities Exchange (the "CSE") (ticker code: STIL), whose securities are also quoted on the OTC in the United States ("OTC") and the Open Market of the Frankfurt Stock Exchange ("FSE"), is a leader in cannabinoid extraction and agriculture. It is focused on the large-scale manufacturing of CBD in Europe and has built two high volume extraction facilities, positioning itself as a leader in seed to CBD supply.
· The Offer is a share for ************** offer at a ratio of 0.33507 New Stillcanna Shares in exchange for each Scheme Share (the "Exchange Ratio"). The Exchange Ratio attributes an implied value for the entire issued share capital of Sativa of approximately £10,662,680 (based on the closing price of CAD0.095 per Stillcanna Share on 21 April 2020, being the last Business Day in Toronto prior to the Possible Offer Announcement Date and using an exchange rate of CAD0.5885/£1).
· The proposed combination of Sativa and Stillcanna will result in Scheme Shareholders holding approximately 65.0 per cent. of the Combined Group and Stillcanna Shareholders holding approximately 35.0 per cent. of the Combined Group,
including all option and warrant instruments outstanding on a fully diluted basis.
· At the value implied by the Exchange Ratio, the Offer represents a discount of approximately:
· 28.6 per cent. to the middle market closing price of 2.6 pence per Sativa Share on 21 April 2020 (being the last Business Day in London prior to the Possible Offer Announcement Date, and Sativa Shares being suspended from trading); and
· 42.4 per cent. to the volume weighted average price per Sativa Share of 3.25 pence over the three month period ended on and including 21 April 2020 (being the last Business Day in London prior to the Possible Offer Announcement Date, and Sativa Shares being suspended from trading). The Sativa Shares currently remain suspended pending this announcement.
Started: 10Guitars, 27 May 2020 14:13
Last post: 10Guitars, 27 May 2020 14:13
Started: Barravelli, 21 May 2020 14:14
Last post: Barravelli, 21 May 2020 19:21
Sativa Group due diligence of StillCanna Inc.
Posted by: Giles Arbor 20th May 2020
Sativa Group Plc (AQSE:SATI), the UK’s leading quoted CBD wellness and medicinal cannabis Group, announced on 22 April 2020 that it had entered into a letter of intent with StillCanna, Inc., regarding a possible offer for the Company.
In accordance with Rule 2.4(c) of the City Code on Takeovers and Mergers, the Offeror was required, pursuant to Rule 2.6(a) of the Code, by 5:00 p.m. on 20 May 2020 (the “relevant deadline”), to either (i) announce a firm intention to make an offer for Sativa in accordance with Rule 2.7 of the Code or (ii) announce that it does not intend to make an offer for Sativa.
In accordance with Rule 2.6(c) of the Code, at the request of the Directors of Sativa, the Panel on Takeovers & Mergers has consented to an extension of the relevant deadline, until 5:00 p.m. on 3 June 2020 to enable the parties to complete the compilation of the necessary information and due diligence required to produce the Scheme Document and the associated Rule 2.7 announcement of a firm intention to make an offer from the Offeror. By this time the Offeror must either announce a firm intention to make an offer for Sativa or announce that it does not intend to make an offer for Sativa, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This new deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
“Our due diligence in respect of StillCanna is progressing well and our expectation is to complete this process in the coming days” states Henry Lees-Buckley CEO of Sativa Group Plc.
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on Sativa’s website (https://sativagroup.co.uk/).
Further announcements will be made as and when appropriate.
Hello mate, could explain more please
Apparently an extension with neccesary due diligence has been made. Should have been completed yesterday but is now extended to 3/6/20.
Started: Biffus, 13 May 2020 11:51
Last post: Willowman19, 14 May 2020 15:53
PRESS RELEASE ACCESSWIRE
Mar. 2, 2020, 04:45 AM
Related Stocks
StillCanna 0.07-0.01 (-7.53%) 4/17/2020 StillCanna Inc Registered Shs Disclaimer Get real-time StillCanna charts here >>
VANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company") Stillcanna has obtained all approvals required to begin commercial operations at its ORIGIN extraction facility in Romania and the Company is pleased to announce the appointment of Mr. Paul van Issum as President of European Operations, effective immediately.
ORIGIN, a joint venture between Stillcanna and Dragonfly Biosciences Ltd. of the UK has received formal endorsement from the Romanian Environmental Protection Agency and Emergency Services Unit. The facility has also received its final operational permit from the town hall of Bailesti Romania. As the operational phase is implemented over the next quarter the Company is expected to begin hiring additional staff and commencing production trials.
Previously, Mr. van Issum was working directly with Mr. Dussault and the Stillcanna management team for more than a year, most recently as a consultant spearheading ORIGIN‘s permit and approval process with various regional and national authorities in Romania. Prior to this, he enjoyed an extensive career as a senior equity capital markets banker. Mr. van Issum is now responsible for the day-to-day operations for all of Stillcanna's European operations.
"With the approvals for our Romanian-based ORIGIN facility in hand, this is the right time to introduce Paul van Issum as our President of European Operations," commented Jason Dussault, CEO Stillcanna. "Paul's efforts in navigating the legal and regulatory frameworks in Romania are a major reason we received the necessary approvals to establish the first fully licensed purpose-built CBD extraction facility in Romania. We have full confidence in Paul's ability to push Stillcanna towards profitability and long-term success moving forward."
"Stillcanna's operations in Poland and Romania leave the Company uniquely positioned in this developing European CBD market," said Mr. van Issum. "I look forward to working with the Stillcanna team to transform this great opportunity into a profitable reality."
StillCanna Begins Hemp Initiative in Poland
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2019) - StillCanna Inc. (CSE: STIL) ("STIL" or the "Company") is pleased to announce it has begun its agricultural initiatives in Poland to farm over 1,500 hectares of its propriety high CBD content hemp varietal.
StillCanna has ordered and anticipates delivery in July of special harvesters and conveyors with proprietary dryers to make the harvest easy and efficient. The high-tech equipment is capable of speeds up to 15km per hour with a special four and a half meter wide cutting device. It's estimated that the Company's 2019 harvest will produce over 16 million grams of pure CBD. As our proprietary strain of hemp has a gestation period of 45 days, the Company is considering planting two crops on a number of its properties to increase its CBD production capabilities for 2020.
The Company anticipates breaking ground in May for its new CBD refinement facility in Poland, which is expected to cost approximately $6 million to complete its development. The facility is designed to have the capacity to initially produce up to 40 million grams of CBD annually with the ability to further build out the facility to increase production as necessary.
"Spring is an exciting time for global agriculture and StillCanna," explained Jason Dussault, Chief Executive Officer of StillCanna. "The expansion of our EU footprint into Poland is yet another milestone in the implementation of our business initiatives. With over 20 years experience in hemp cultivation, we look forward to meeting the ever increasing demand for quality CBD from our fields and facilities."
The Company also announces that it has engaged Native Ads Inc. to provide and manage a comprehensive digital media marketing campaign for the Company.
The Company has entered into an eight week programmatic digital advertising campaign for an approximate cost of one hundred thousand dollars for digital advertising, paid distribution, media buying and content creation. Neither Native Ads nor any of its directors and officers own any securities of the Company.
Thanks WM for clarifying things ;-)
StillCanna has large cultivation and extraction assets and is on the cusp of significant revenue growth: It is one of Europe’s largest CBD companies with 1500 hectares of hemp cultivated in Poland in 2019 with this expected to grow to 3000Ha in 2020. It has two large extraction facilities based on a proprietary closed loop ethanol-based design with combined capacity to produce up to 29 tonnes of CBD isolate pa. Its wholly owned extraction in Poland has recently started production with the group recording its first revenues in the quarter to January 2020, and its JV facility with DragonFly in Romania recently received its final operating permit and awaiting the lifting of the COVID-19 lockdown before resuming commissioning.
It complements Sativa’s leading position in UK distribution and branding and puts the group in a strong position with regards to Novel Food compliance: both companies share a culture of compliance and the resulting vertically integrated entity will be able to provide full traceability of testing and compliance from seed to sale. Both were already engaged in the process of achieving UK and European FSA Novel food compliance prior to the UK March 2021 deadline. We believe success in the UK by Sativa’s Goodbody brands is likely to help generate demand in other jurisdictions, as well as for wholesale and white label CBD supply.
Attractive deal structure for both sets of shareholders: Based on the current share prices, the resulting group will be 65% owned by Sativa shareholders with Sativa not just bringing branding and distribution in the most important EU CBD market, but also a cannabinoid testing laboratory, as well as medicinal and veterinary cannabinoid asset development. For Sativa, StillCanna brings compliant EU cannabinoid supply at scale, as well as balance sheet strength which, combined with potentially significant third-party CBD sales this year, should see the group well through COVID-19 but potentially also be able to trade to self-sufficiency without further equity funding.
StillCanna has raised over C$30m in equity financing, including a C$24m raise in April 2019. In its most recent financials, the three months ended 31 January 2020, it recorded its first quarterly revenues C$0.23m (from Nexus) and an operating loss of C$2.06m. It reported cash and equivalents of C$6.72m, $1.23m in inventories and is debt free apart from C$0.20m of leases. This therefore gives it little more than 9 months of cash runway at that cash burn rate. As such, its financial statement included a statement that there is material uncertainty that casts significant doubt about the Company’s ability to continue as a going concern.
That said, with the Nexus facility now operational and PES expected to start production in the coming months, and with significant capacity in cultivation and extraction, the company looks like it could trade its way to self-sufficiency within the next six months and with its current cash position. This potentially could then provide headroom in funding to support the combinedgroup with Sativa, especially if cost synergies can be achieved through the combination of the two businesses.
A back of the envelope calculation suggests that the 1500 Ha cultivated by StillCanna in 2019 would theoretically hold over 7 tonnes of CBD (using a conservative CBD yield in flower of c3.5%) which could be extracted in six months. With a wholesale value of over €5/g for traceable compliant EU CBD distillate and isolate, this supply could deliver revenues over €35m this year. Additional revenues could be made by StillCanna by toll processing third-party crop using spare capacity in its Nexus facility as well as from the Premium Extraction Services JV with DragonFly who also has considerable hemp flower in stock to process once fully operational
Started: Biffus, 6 May 2020 11:25
Last post: Willowman19, 9 May 2020 18:27
I'm quite excited about the potential takeover.
We will be growing hemp in Romainia and Poland and selling it.
We have what Sativa group has now plus what stillcanna are doing. Hemp is becoming popular, used for biomass and the CBD which is used general sales and Pharma grade. Medical cannabis is in there which is going to take off, as it does what it says on the tin with few side effects. The world is turning away from opiates and I believe CBD and other molecules from the plant will become very popular medicines, among other things. The world will be turning away from plastics and hemp can be used like plastic, , imo dyor
I believe this could do very well over the coming years, and that's why I'm invested and will be building a bigger position should the takeover happen.
So we are being sold out. Hmm price hasnt moved. Usually when there is talk of a buy out the stock rises.
Guess we arent going to be making much from now on.
Does anyone know , what and when , we will hear what is happening?
Started: 10Guitars, 28 Apr 2020 18:11
Last post: 10Guitars, 28 Apr 2020 18:11
If it happens is it a plus for SATI shareholders?