Listuguj Shows Interest to Convert Loan into Shares
January 29, 2018 (Listuguj, Quebec) – The Listuguj Mi’gmaq Government Chief and Council, at a duly convened council meeting, have indicated their interest via OIC to convert their current loan with International Herbs Medical Marijuana Limited (IHMML) into shares in the company.
The LMG Chief and Council are not taking this matter lightly and will be mandating multiple forms of due diligence to take place before any official agreement is signed. We would like to note that this is an “interest to invest” and only following a successful negotiation will the conversion become official.
The LMG will establish a corporation to hold the shares in the interest of the LMG and community of Listuguj. This development will be utilizing best practices from other First Nation communities such as Membertou, Millbrook and Madawaska to ensure that the proposed corporation is working to its best capability for the community.
The LMG Economic Development Unit will coordinate various activities such as a communications strategy, negotiations strategy and a work plan. This will ensure that the process will be effectively communicated to the people as the process moves forward.
This will all be finalized with negotiations between IHMML, of which Zenabis is one licensed producer, and the LMG to ensure that we are receiving the best options for our potential investment.
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Mike Isaac Communications Manager, 418-788-2136 or firstname.lastname@example.org