Hello everyone,
I hope this finds you well as we prepare to enter the last month of what has been an unprecedented year. We wanted to provide you with an update on our recent business activities and our next steps as we close out 2020. Firstly, and after several months of delay, our investor gift bags finally cleared customs and were delivered to us on Friday November 27. The combination of Covid related shipping delays, along with extra scrutiny due to the nature of our business had caused significant headaches, however that is now resolved. We expect the bags to be shipped out in the coming week. If you have changed your address or you want to pick up your bag in person, please advise us no later than the morning of Friday December 4 2020. Please use investor@compassclinics.com.au to update your information, along with making the corresponding change on your registry direct account. As a “thank you” for your patience, we have added an additional bonus certificate for clinic appointments for each investor. These are transferable so you can pass them along to friends or family if you would like.
Secondarily, we continue to make good progress with the ASX on our listing requirements. The company has presented its initial information package to the exchange and we have a follow up meeting at the end of the coming week to discuss timelines and our next steps. We are also into our financial audit requirements while maintaining our eye on a listing in the first half of 2021.
From the business perspective, we continue to see strong demand for cannabis related services. Our physician team is fully booked through mid January. We anticipate adding to our medical staff to increase our availability in the coming weeks. We also anticipate four products in the market in December. Two of these will be under our white label brands. We will be releasing a further press release around the business in the coming week that we will supply to you when it hits the media.
Lastly, I have spent the last month in Australia. Despite the challenges of quarantine, it has been an amazing time thus far. The economy and recovery from Covid seems to be significantly ahead of North America. I feel that Australia is poised for a strong 2021 compared to most of the globe. I am equally bullish on the future of medicinal cannabis. Patient growth continues to be very strong despite a low level of public knowledge around the medical opportunities. On the business side, cannabis company valuations continue to grow and I would expect to see significant growth in the business fundamentals for the next 2-3 years. Medical cannabis remains in the early stages of use from the public but it is already among the fastest growing industries in the country. 2021 is poised to be a banner year for everyone involved!
Thanks
Dave Martyn
President
Compass Clinics Australia