Need clarification from someone. Is bill saying
Post# of 56323
Posted On: 04/11/2014 12:15:16 AM
Need clarification from someone.
Is bill saying that the new investor has 25% stake in FITX?
I am assuming hes talking about the 'past' deal with Growlife.. but this reads funny to me
Is bill saying that the new investor has 25% stake in FITX?
Quote:
Bill Chaaban stated, ``we act in the best interests of our shareholders. During our due diligence process we arranged suitable alternative private financing to fund our project at 20 North Rear Rd in Lakeshore, Ontario. The terms of this deal were a 25% equity stake in the CEN Biotech project located at 20 North Rear Rd in exchange for $20 million usd. The project has been funded $5.0 million usd to date and will be fully funded per the agreement in 90 days from the agreement date. Our project continues on schedule and we intend to call for our pre-license inspection before month`s end. We have already sourced equipment from alternative sources which meet or exceed the quality required at a more competitive price.``
I am assuming hes talking about the 'past' deal with Growlife.. but this reads funny to me
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