CGB - Cann Global

[greggles]

I'll see your 45% and raise you another 50% Hope you are still in on this Greggles.

I remember I scoffed when these guys first bought into the MM arena given they were a Bauxite Co. Now that I own them I am a loyal shareholder
Broke out on 9th October at 2 cents ... currently trading around 5 and a half cents and looking strong .... not scoffing anymore lol ......

I'm not actually on it barney, but wish I was. It's certainly been going great guns lately. Great news for those holding. I wonder how much further it has to go? Is the market cap really getting close to $100 million?

 

[barney]

Pity you weren't in Greg but there will be plenty more QBL's for sure.

Not sure of the exact MC but between $60-80 million which is certainly factoring in a bit of upside on the retail revenue they hope to achieve once they get their product range up and running ...

That aside, they have around $6 million in cash on hand so currently sitting at a PE of around 11 to 13 with a lot of potential upside if all goes to plan .... Personally fortunate to hold a reasonable freehold amount at this point and curious to see what eventuates over the next 12 months. Cheers.

 

[greggles]

Pity you weren't in Greg but there will be plenty more QBL's for sure.

Not sure of the exact MC but between $60-80 million which is certainly factoring in a bit of upside on the retail revenue they hope to achieve once they get their product range up and running ...

That aside, they have around $6 million in cash on hand so currently sitting at a PE of around 11 to 13 with a lot of potential upside if all goes to plan .... Personally fortunate to hold a reasonable freehold amount at this point and curious to see what eventuates over the next 12 months. Cheers.

Good luck barney. I hope you do well out them. Will be watching with interest.

 

[Wysiwyg]

QBL up 45% today after announcing their entry in the hemp food products market through their investment in Medical Cannabis Limited.

Bauxite - hemp? Chalk - cheese.

 

[barney]

Bauxite - hemp? Chalk - cheese.

Yeah it seems a strange marriage at face value .....

There is a possibility if their Bauxite project gets off the ground, the eventual required reclamation of the land post mining could be utilized by planting MM vegetation ...fair way down the track at this stage but an interesting synergy if it eventuated

 

[greggles]

Can't ask for a better run than this. 2c to 9.5c in three weeks. Volume appears to be dropping a little but no signs of a sell-off yet. Who would have thought even a few years ago that people would be making these kind of gains with medical marijuana companies?

 

[greggles]

Since early November QBL has gone from 2c to 10c then back to 5c and now back up to 9c. Quite the roller coaster ride.

Yesterday the company announced that it has signed an exclusive joint venture agreement for a World First Pharmaceutical Grade Medical Cannabis Extended Release Pill with Canntab Therapeutics Limited. The announcement further claimed that this product is a "game changing" medicinal solution and a possible solution to the opioid crisis.

With the excitement and hype around medicinal cannabis at the moment, if this pill does what the company says it can then this could be just the beginning.

Anyway, the news sent QBL up to 11.5c today, although it is currently at 8.2c after easing off its earlier highs.

 

[greggles]

After spending the last few months going backwards on low volume, QBL has finally begun to reverse the decline. A couple of good announcements in the last few days have re-ignited interest in QBL and it is heading north again.

Coles stores are now stocking various products and oil blends from QBL's subsidiary Medical Cannabis Limited and its hemp seed food subsidiary VitaHemp Pty Ltd. Vitahemp have also released the first Australian grown and processed Hemp Seed Oil soft-gel capsules into the Australian market.

 

[greggles]

QBL has been in a trading halt since 2 May but it will be re-instated to official quotation tomorrow morning after releasing a 131 page announcement this evening that details the company's transformation into a major ASX-listed cannabis company.

The short version is that QBL will be acquiring 100% of Medcan Australia Pty Ltd, a holder of an Office of Drug Control Medical Cannabis Production License (Australian Cultivation & Production Licence) and 100% of Medical Cannabis Limited.

The purchase of Medcan Australia Pty Ltd will be satisfied through the issue of 250,000,000 QBL shares and the purchase of Medical Cannabis Limited through the issue of 1,195,000,000 QBL shares. So in total QBL will be issuing 1,445,000,000 new shares to fund both acquisitions. When this is added to the 1,593,852,092 shares already issued it means QBL will now have a total of 3,038,852,092 shares on issue.

Maybe it's about time they changed their name from Queensland Bauxite? Queensland Cannabis maybe?

Tomorrow's open will be interesting. The last traded price was 4.9c, so based on their new total amount of shares their new estimated market cap will be $148.9 million.

 

[galumay]

So they have gone from pots to pot?

 

[greggles]

So they have gone from pots to pot?

So it seems. It really is a big transformation for this company, but revenue is a big question mark so the initial excitement might wear off pretty quickly. With three billion shares on issue there will certainly be a lot of liquidity.

 

[greggles]

QBL opened this morning at 7c and since then has retreated back to 5.9c. I had a feeling that while it was going to make some gains today on the back of yesterday's announcement, there would also be a lot of holders taking this opportunity to exit their positions, especially after such a long trading halt.

102 million shares have traded so far today and at 5.9c that makes it a 20.41% gain on the last traded price before the trading halt on 2 May.

 

[greggles]

Well, after all the hype and excitement on another unnamed forum about QBL following yesterday's company transformation announcement, it ended up finishing the day at 5.3c, up a measly 8.16%.

I had a feeling that the excitement would wear off pretty quickly. Cannabis stocks are the flavour of the month at the moment, but the extravagant valuations that form in the mind of the average punter aren't matching up with reality. Not only that, but with three billion shares on issue (post-acquisition) it will be hard for the company to gain any traction with the sheer number of shares on issue. I hope that there is a share capital consolidation on the cards for QBL.

 

[System]

On January 25th, 2019, Queensland Bauxite Limited (QBL) changed its name and ASX code to Cann Global Limited (CGB).

 

[greggles]

Cann Global recently came out of voluntary suspension that lasted longer than 12 months. It went into the suspension as Queensland Bauxite and came out as Cann Global.

Just a bit of an update:

After being reinstated to official quotation its share price immediately fell to a low of 2.3c but has since recovered to a high of 5.1c today. The recovery began following the announcement on 29 August which stated that its T12 Food Division has become an official supplier to Costco, and has secured its first Purchase Order of 6900 bottles from Costco Australia for its VitaHemp certified organic premium hemp oil daily capsules.

The company has a whopping 1,898,182,843 FPO shares on issue which means at its current price of 5.1c it has a market cap of around $96.8 million. Seems a little high to me but clearly someone thinks its worth that much.

Anyway, now its back trading again it will be interesting to see what happens from here. After a more than 12 month suspension from trading you would think they would be out to kick some goals to restore some confidence in the company.

 

[frugal.rock]

So many are probably aware of the cannabis boom by now.
CGB (Can Global LTD) have just finished a share placement and raised $3.75 million at 0.005
The volume and price is picking up now this raise has finished.
A very speccie priced stock in a booming sector.
Creso can't run forever, and when the music stops, ouch.
Invariably, CGB is ripe for the picking and stands a high probability of being a buy up target in my opinion.

Edit, I turn my back on it and it's taking off as I write.
Do your own research if you have time...
I believe Motley Fools may have written about this one, from my memory.

Chart showing off and racing bar today.

 

[frugal.rock]

A little overhead resistance at 0.012
Currently looking like it will break through it.

 

[frugal.rock]

So it did hit 0.013, but met resistance with momentum decrease.
Quite a long consolidation on 0.011
A solid run today overall with nearly all time record volumes or at least highest volume in 3 years.
Some solidly large orders going through just before close with a strong final close.
Will be interesting to watch again tommorow by all accounts.
With a bit of luck, the exuberance shown in CPH trading will transfer over to this one and have it run stupidly also....

 

[barney]

Lol ... I wish the world would get back on the Rare earths bandwagon so I can start making some cash again

 

[frugal.rock]

CGB currently eying off a 3 tick gap up or 25% on open with strength.

Just a reminder it closed 100% higher yesterday with record volume after closing a successful placement.
Order flow indicated the day closed on strength.
Held, tightly this time...