Last week Red White & Bloom (RWB) completed a transaction to become a publicly traded company. The entire release can be found at this link.
This is a great piece of news for all Mid-American Growers stakeholders. As many of you are aware, RWB has advanced significant capital to date for our operations and they will continue to support MAG as we execute on our business plan.
Below are some FAQs that will hopefully address some of the questions that you may have:
Mid-American Growers has made provisions to ensure that all MAG employees become part of the stock option plan and can benefit through ownership of shares of the company.
Stock options are a form of compensation. Companies can grant them to employees, contractors, consultants and investors. These options, which are contracts, give an employee the right to buy (or exercise) a set number of shares of the company stock at a pre-set price, also known as the grant price. A fairly straight forward explanation of how stock options work can be found at this link.
The employee stock option plan is being finalized and will be in place shortly.
My goal for MAG is to become the "Gold Standard" for our industry. Over the past several months there have been many changes in the way we operate, communicate and work together as a team. We have made tremendous progress toward that goal, which is a testament to your hard work, your creativity and your commitment to this Company. As we move to be a publicly traded company, there will be more changes to our internal processes to ensure compliance with regulatory and reporting requirements. Investors will rely on the judgment (called “Opinion”) of external auditors, who will review the documentation associated with our policies and procedures. Since we as an organization have already proved quite adaptable to a changing environment, I am confident we will successfully make this transition.
There is no way to predict what the stock price will do from day to day. We have a solid business plan, that will create value for everyone when we all do our part to make the Company successful. If you'd like to learn more RWB's overall plans, click here to view an interview with Brad Rogers, CEO of RWB.
These FAQs likely address some of your questions but not all. As more information becomes available and I receive more questions, I will update you as I know more.
I am fortunate to work with such talented and dedicated people. Your hard work and commitment have made the Company successful and I look forward to our continued success in the months and years to come.