New press release from our favorite cannabis company, Cannex Capital Group. I would go so far as to say Cannex’s $48.2m initial public capitalization represents the largest, most transparent and democratized public offerings of a cannabis company we have yet seen since the massive shift towards legalization and regulation of recreational cannabis.
What does this really mean? Specifically, that investors in the pre-RTO (reverse-takeover) listing, got shares at $1.00 apiece. When Cannex listed, because the listing was not an initial public offering (IPO), the shares traded freely. While they initially reached nearly $2, regular individual investors have been able to buy Cannex over the last few moths for as low as $0.80.
Cannex’s valuation also puts in levels above its peers in terms of operational ability and proven financial results. With $26 million in 2017 revenue, Cannex still has $19 million on its balance sheet for strategic acquisitions / new projects and partnerships on an exciting global stage in which the most sophisticated, well-run international governments are starting to effectively work with first-mover participants with the desired track records.