Eureka93 in restructuring?
Eureka93 in restructuring?
Co-President and CEO of LiveWell Food Canada (now known as Eureka 93), Seann Poli, sent a letter to his subscribers by email this week, expressing his concerns about the future of the company.
“Like you, we are very disappointed with the current state of the business and are doing our best not to let the business fail,” the letter says. “We intend to communicate by email and share more updates in the coming weeks. ”
It may be important to remember that at the beginning of September, Eureka93; the owner of the project to create a cannabis research and development center at the Industrial Park in Litchfield, announced they were studying various options, including the sale of the company due to a “lack of capital”.
Link: http://www.chipfm.com/Eureka93-dit-manquer-de-capital-met-a-pied-des-employes-et-evoque-la-vente-de
Once again, according to Poli’s letter published on Monday, there would be some confusion about the lack of files and funds. “There is a lot of work to do to understand where all the files are and the overall state of the business. One of the biggest questions we all have is: Where did the money go? The answer today is that I am not sure yet. ”
Seann Poli says “I need a little more time to look at all areas of the business. However, he hopes to publish the second quarter financial statements, along with remarks on the results.
The Internal restructuring of the company could also appear to be underway. “I personally wanted to inform you that [the co-CEO], Owen [Kenny], myself (Seann Poli) and the Board of Directors have been working day and night to get together since the departure of the Board of Directors and the previous executive. ”
Poli says he’s working on some milestones, including launching a plant in Montana, US, cleaning the Artiva site in Ottawa, and advancing the Acenzia project, which is part of the merger of the companies becoming Eureka93.
By the time the company reaches a certain level of stability, Poli says Eureka93 will limit its communications. “We will have an e-mail address for incoming e-mails, but we will only be able to respond to a few of e-mails if we get more help, which should not take much time. ”
The letter concludes as follows: “Everyone stay positive. Posting catastrophic remarks does no good to person. The Company will succeed much more quickly if we are all united. It is in our interest to do what we can to help. Thank you for your continued patience as we work to resolve these issues. We will turn around and navigate in calm waters soon. ”
CHIP 101.9 attempted to communicate with Eureka93 via the phone number posted on its website. A number which seems to have been disabled. In attempting to reach Mr. Poli via the telephone number given in his letter, the newsroom was greeted with a live voice message from LiveWell Canada.
Up until now, Seann Poli has not returned any of the calls from CHIP 101.9.
