Jump to content

CPH - CRESO PHARMA LIMITED


ShareCafe
 Share

Recommended Posts

  • 2 months later...
  • Replies 26
  • Created
  • Last Reply

Top Posters In This Topic

Geez, this company makes some juicy appointments. No wonder Asenna Wealth was promoting this stock on his twitter feeds :biggrin: As can be seen from the chart below, all these appointees did a great job - the SP hit a high of $1.65 back in November last year - currently sitting on 94c. Hopefully these advisers were able to take advantage of the HIGH (pardon the pun).

Corporate Update

In December 2017, the Company issued a total of 3,142,774 shares to unrelated parties being

Asenna Wealth Solutions Pty Ltd, TAC Professional Services Pty Ltd, DHJPM Pty Ltd, MFCM

Nominees Pty Ltd and 153 Fish Capital Pte Ltd (Advisors) for corporate advisory, marketing and

business development services provided in relation to the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Placement (as announced on

1 December 2017). The shares were issued under the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s 15% Placement Capacity

pursuant to Listing Rule 7.1, as per the Appendix 3B lodged on 1 December 2017 and pursuant to

the Advisor mandates set out below.

 

The Company advises that formal mandate agreements have been entered with the Advisors to

provide ongoing services to the Company as follows:

 

The Company engaged Asenna Wealth Solutions Pty Ltd in March 2017 for a one year term, to

provide marketing and promotional services to potential investors. Pursuant to the engagement

agreement, the Company issued to Asenna Wealth Solutions Pty Ltd 1,000,000 fully paid ordinary

Shares in the Company at a deemed issue price of $1.10 per Share, as consideration for the services.

 

The Company engaged TAC Professional Services Pty Ltd for a 12 month period (commencing June

2017) to act as a business development and marketing advisor to explore and strategically evaluate

funding opportunities for the Company. In consideration of TAC acting as the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s advisor

during the term of the agreement, the Company agreed to pay a 12 month retainer of $1,375,000

plus GST as 1,250,000 ordinary Shares priced at $1.10 (excluding GST to be paid in cash).

 

MFCM Nominee Services Pty Ltd was engaged on 28 November 2017, for a period of two years, for

business development and corporate services with particular expertise and focus in the Asian

region (predominantly the Indonesia market) to develop opportunities and investor interest in

medical marijuana businesses and assets. The Company agreed to pay a Consultancy fee of

$550,000 through the issue of 500,000 Shares at $1.10 (excluding GST to be paid in cash).

 

153 Fish Capital Pte Ltd was engaged on 1 July 2017 (for a period of 6 months as extended by

mutual consent) to assist the Company to find investment ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¹Ãƒƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“leadsÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢. Under the engagement

agreement, the Company agreed to pay 500,000 Shares to 153 Fish Capital Pte Ltd as a finderÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s fee.

 

DHJPM Pty Ltd was engaged for business development and corporate services. In consideration of

these services, the Company issued DHJPM Pty Ltd 100,000 Shares.

 

The Company has also entered into an agreement with Everblu Capital Pty Ltd (Everblu) for a

period of 18 months commencing on 1 July 2017. Everblu was engaged to introduce and assess

potential opportunities for the Company including potential acquisitions, collaborations and

opportunities in other jurisdictions, as well as exploring dual listing opportunities for the Company

on exchanges other than the ASX. In exchange for these services, subject to approval of

shareholders, the Company will grant the following securities to Everblu (the terms of which will be

set out in a notice of meeting):

 

(i) 1,800,000 Performance Rights which vest on the first of the following to occur:

(i) the expiry of a period of 6 months from the date of the grant of the

Performance Rights; and

(ii) the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Share price on the ASX exceeds A$1.00 for 5

consecutive days.

(ii) 1,800,000 options (exercisable at $1.00 on or before the date which is three years

from the date of issue)

In addition to the performance rights and options, the Company will also pay to Everblu the

following amounts: a monthly marketing and corporate advisory fee of A$10,000 (Plus GST); for

each capital raising via equity or debt during the term of the Agreement, the Company agrees to pay

to EverBlu a fee of 4% (plus GST); and for managing and marketing each capital raising via equity

during the term of the Agreement, the Company agrees to pay EverBlu a fee of 2% (plus GST).

Everblu is a related party by virtue that CresoÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s non-executive director Adam Blumenthal is

Chairman of Everblu Capital. The issue of the above securities to Everblu will require shareholder

approval under Listing Rule 10.11

 

The Company has also proposed to issue performance rights to members of the Board, subject to

receipt of the appropriate shareholder and ASX regulatory approvals. The Company will keep the

market updated in this respect as appropriate.

http://www.aspecthuntley.com.au/asxdata/20...df/01949789.pdf

post-330173-1518755095_thumb.png

Link to comment
Share on other sites

Just noticed this issue has been taken up by AFR :biggrin:

Feb 16 2018 at 5:40 PM Updated Feb 16 2018 at 5:40 PM

 

The downside of sharemarket insta-famous

extract

It immediately triggered an outcry that Asenna Wealth's founder Assad Tannous, who has 35,900 followers according to his Twitter profile, had been paid to promote the stock on social media, as well as through his network of investors.

 

When contacted by AFR Weekend, Mr Tannous denied he was paid to promote any companies in his Twitter feed, saying the Creso share issue was for advisory work. He said the description of his role must have been a "mistake".

 

Creso declined to comment when contacted.

 

Read more: http://www.afr.com/technology/social-media...v#ixzz57GtKzeGQ

 

 

Link to comment
Share on other sites

Another good follow up article on - How Twitter, social media boost small cap stocks - in relation to this stock

 

Read more: http://www.afr.com/business/how-twitter-so...s#ixzz57KTWPw9b

 

Did a little digging into the other companies mentioned who received shares for services rendered One would think it would be easy to uncover who they are - they must be highly regarded and have a webpage? No so.

 

DHJPM Pty Ltd

Seems to be "a director related entity" of David R Hannon, who is a director of LPI, previously also MRR - both companies EverBlu Capital has raised funds for. He was also a director of AGO & BIG.

 

According to LPI's 2017 AR, DHJPM P/L received $66.6k for rental of office space - P22 of AR - https://www.asx.com.au/asxpdf/20170928/pdf/...r0lxcztx0vm.pdf

Not much info around for them, so not sure what services they are providing - maybe office space? Although CPH are located in WA and DHJPM are registered in Sydney.

 

One of the analysts at Everblu Capital is named Nick Hannon - not sure if related to David? Everblu were also engaged in Cap Raise for LPI and did some Research Report - http://www.lithiumpowerinternational.com/w...rch-Report1.pdf

 

TAC Professional Services Pty Ltd

Also don't appear to have a website, is a private company that was registered with ASIC on 27 April 2017 - location Bondi, NSW - and there's very little info out in google world about them, except they own shares in G88, along with David hannon/Chifley Portfolio - https://www.listcorp.com/asx/g88/golden-mil...ers-1620762.pdf

 

153 Fish Capital Pte Ltd

Seems to be a Singaporean company. They were engage to undertake a Rights Issue and act as Underwriter for EEG. The EEG ann - ASX Query - Rights Issue - dated 2 March 2017 gives some background of the company. Suggests in part - "153 Fish Capital was a former HSBC employee with experience working with government linked companies in Malaysia and general banking experience in Singapore" https://www.asx.com.au/asxpdf/20170302/pdf/...hpq398vfmr0.pdf

 

153 Fish Capital was introduced to EEG by Santon Securities Australia Pty Ltd - http://sanston.com.au/our-people/

 

Everblu also provided a Research report around the time of the CR - EverBlu Research Report - December 2016 - http://www.empireenergygroup.net/investor-...earch-and-media

 

MFCM Nominee Services Pty Ltd

Registered with ASIC 20/1/2006 - Lilydale, VIC

Is listed on the Top 20 of a number of companies - most notably CLZ where they are the top holder with over 7% but I can't seem to find a "becoming a substantial shareholder notice"

Another place they pop up is on the ROO register, # 12 together with David Hannon # 9 & 19 and Asenna Wealth #18

Link to comment
Share on other sites

Jacenko runs a PR company - Sweaty Betty. Nice bit of PR

 

Cannabliss? Roxy Jacenko and daughter Pixie snapped hanging in Hawaii with the co-founder of multi-million dollar marijuana business

Roxy Jacenko's Instagram followers were green with envy as the PR queen got the chance to swim with dolphins in Hawaii on Friday.

 

Interestingly, the 36-year-old and her daughter Pixie were joined by Adam Blumenthal, who is the co-founder of a business specialising in another type of 'green.'

 

The entrepreneur - who's connection to Roxy is currently unclear - is part of a multi-million dollar marijuana operation which legally develops and distributes marijuana products with bases in Switzerland and Israel.

 

Adam's firm Creso Pharma is one of the first marijuana producers to be floated on the ASX since the substance was legalised in Australia for medical use late last year.

 

According to the businessman's Linkedin profile, the company's strategy is to 'develop, register and commercialise Pharmaceutical-grade-Cannabis and Hemp based products to the Highest GMP ( Good Manufacturing practice ) quality standards.'

 

His profile on Creso's website states: 'He has successfully worked on several medical marijuana deals spanning Israel, Canada and Switzerland.'

Read more: http://www.dailymail.co.uk/tvshowbiz/artic...l#ixzz57M1b9tf7

 

Link to comment
Share on other sites

Another article from the"Equity Guru" - Assad Tannous in spotlight as Creso Pharma (CPH.ASX) hand him $1 million in shares

Craig AmosFebruary 18, 2018

https://equity.guru/2018/02/18/assad-tannou...million-shares/

 

You really wonder why these people put out so much information on their twitter feeds. I went thru some of them and came up with this one on 14 September last year which I found odd to say the least - https://twitter.com/AsennaWealth/status/908551541916700672.

Link to comment
Share on other sites

  • 2 weeks later...

http://www.afr.com/markets/equity-markets/...20180227-h0wr29

 

Creso's annual report, released late Tuesday night, reveals Mr Tannous, who has frequently tweeted about Creso, holds fewer than 290,000 shares. In July, Mr Tannous was issued 1 million shares at $1.10 for one year's worth of "marketing and promotional services to potential investors".

 

In the last annual report and before the issue, Mr Tannous' A&J Tannous Nominees was the company's 16th-largest investor with 595,000 shares.

 

Mr Tannous hasn't tweeted about Creso since January, and doesn't appear to have told his social media followers that he has pared his holding.

 

Of course he hasn't announced he's sold, he may not be done yet!

 

Forums and social media may be a good channel to access contrasting viewpoints or ideas but in no way should substitute good solid research.

Link to comment
Share on other sites

  • 3 weeks later...

Had a bit of a look at the chart around the time this tweet was made - time/date of tweet 9:42 PM - 14 Sep 2017 - see below

Assad Tannous @AsennaWealth

Follow Follow @AsennaWealth

More

Replying to @ActionFigureTom

Check this out. Wont mention names but made shiteload on SYR . Came to visit me lastnight. #Crown

 

Assume the name he didn't want to mention wasn't Santa Claus :biggrin: a bit too early for him to visit

 

SYR's SP had been trending downwards, then started to turn positive in late August with the announcement - Mining Agreement Approved by Government of Mozambique - on the 20/8/17. On 8/9/17 came the announcement - Syrah Signs Sales Agreement with BTR New Energy Materials. Two days before on the 6/9/17 the volume of trades appeared higher than normal - leaky boat? - then on the 14/9/17 some heavy selling.

 

Perhaps Assad was fortunate enough to get in on this action - thereby making a "shiteload" - although I'm not sure it's a good idea to brag about it on twitter

post-330173-1521349232_thumb.png

Link to comment
Share on other sites

  • 1 month later...

CPH's Notice of Annual General Meeting released today - looks like ASX has put it's foot down regarding voting by related parties. Is that as far as ASX/ASIC is going to take the matter?

 

Voting Exclusion: The Company will disregard any votes cast in favour of the Resolution by

or on behalf of a person who participated in the issue. In addition, if not already excluded,

ASX has exercised its discretion to require the Company to disregard any votes cast in

favour of the Resolution by EverBlu Capital Pty Ltd, Asenna Wealth Solutions Pty Ltd, TAC

Professional Services Pty Ltd, MFCM Nominee Services Pty Ltd, 153 Fish Capital Pte Ltd,

DHJPM Pty Ltd or any associates of those persons. However, the Company need not

disregard a vote if it is cast by a person as a proxy for a person who is entitled to vote, in

accordance with the directions on the Proxy Form, or, it is cast by the person chairing the

meeting as proxy for a person who is entitled to vote, in accordance with a direction on

the Proxy Form to vote as the proxy decides.

 

Quarterly show cash receipts from customers in the current quater, and for the YTD/3 months = $188K

Advertising for the same period = $599k - but outflows for the next quarter will be much lower :) @ $280k

 

9. Estimated cash outflows for next quarter $AÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢000

9.1 Research and development (530)

9.2 Product manufacturing and operating costs (80)

9.3 Advertising and marketing (280)

9.4 Management costs (183)

9.5 Staff costs (190)

9.6 Administration and corporate costs (710)

9.7 Other (scheduled capital expenditure for Mernova production facility) (2,058)

9.8 Total estimated cash outflows (4,031)

9.7 In the next quarter, Creso will be providing a loan to Mernova Medicinal Inc. of ~CAD$2.0

million.

 

2.3 During the quarter, Creso paid an Exclusivity Fee of US$250,000 to Kunna Canada to pursue the grant of the Cultivation Licence and for other general working capital

requirements per the Heads of Agreement.

During the quarter, Creso provided a loan of EUR150,000 to the Viru Beer joint venture company.

 

CPH had $11 mil left in kitty at end of March 2018, with $4 mil estimated outflow 2Q2018 - let's hope their cash income starts to travel as fast as their cash outflows

post-330173-1525233490_thumb.png

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...