20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
International medical cannabis company Akanda Corp. (NASDAQ:AKAN) (WKN: A3DG83) and 1107385 B.C. LTD has entered a purchase deal for farming land and related operations and licenses.
What Happened
Akanda said on Wednesday that it plans to issue a non-refundable payment of $1.8 million which, if paid in common shares of Akanda, will be based on a formula to calculate the per-share price as outlined in the agreement.
The initial payment will be broken up into three option payments: upon signing, 15 days after signing, and 30 days after signing, respectively.
Why It Matters
The move buys Akanda the right to develop the property owned by 1107385 B.C. LTD for two years. Akanda plans to develop THC and CBD facilities at the site.
What’s Next
Additional payments will be made based on milestones achieved from the development, including THC cultivation, sales of products, CBD cultivation, and hemp cultivation.
Further payment milestones include:
- Akanda agreed to pay $500,000 to the land’s owner upon approval or a license for THC cultivation on the property from the applicable regulatory authority;
- Upon sale of THC product cultivated from the property, $500,000 will be paid;
- Upon kemp cultivation approval from the application regulatory authority, $750,000 will be paid; and
- Upon CBD cultivation approval from the application regulatory authority, $750,000 will be paid.
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join us at the Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago on Sept 27-28. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
AKAN Price Action
Akanda’s shares traded 11.1111% higher at $0.69 per share at the time of writing on Wednesday morning.
Related News
- Akanda Stock Skyrockets On FY22 Revenue Growth Of 6223%, Here Is What You Need To Know
- Latest Executive Changes In Marijuana Industry, New Appointments & Resignations
Photo: Courtesy of geralt, lindsayfox Pixabay
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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