BenedictGomez
Well-known member
The Burlington Free Press isn't fit for kindling. It's a biased political rag.
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Jay Peak bombshell
- Thread starter VTKilarney
- Start date
The Burlington Free Press isn't fit for kindling. It's a biased political rag.
As are most newspapers
VTKilarney
Well-known member
The "offering letter" to investors for AnC Bio has been approved allowing fundraising to resume and construction to begin. The business plan is still awaiting state approval.
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VTKilarney
Well-known member
Downtown Newport.
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I hope this is an april fools joke?
VTKilarney
Well-known member
It is not a joke. There was an article in today's Caledonia Record about it.
dlague
Active member
No we were up there a couple of weeks ago and they had started this already! Some of my childhood memories being torn down!
VTKilarney
Well-known member
The downtown Newport project is NOT where AnC Bio is going to be built. AnC Bio will be in the industrial park. The downtown demolition is being paid for with private funds, and not EB-5 funds.
How can fundraising and construction move forward when the plan is not approved by the State?
VTKilarney
Well-known member
The "offering" was approved - which is the document given to potential investors. The "business plan" has not been approved yet. Apparently as long as the investors are properly aware of the risk construction can commence. Something tells me that the revised "offering" makes the risk more clear, but that's just a hunch.
dlague
Active member
I know! It is going where the old Bogner plant was.
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VTKilarney
Well-known member
VTDigger has some good follow up on the AnC Bio and Burke projects:
http://vtdigger.org/2015/04/04/regulator-gives-anc-bio-project-partial-clearance/
http://vtdigger.org/2015/04/04/regulator-gives-anc-bio-project-partial-clearance/
BenedictGomez
Well-known member
I cant believe that AnC Bio project is "90% funded". These have to be the dumbest-of-the-dumb EB-5 investors, or the richest-of-the-rich (i.e. I don't care) EB-5 investors.
BenedictGomez
Well-known member
By "Investors", do they mean EB-5 patrons?
Because if so, that's a quick $2.9 shill profit for Quiros, which should be illegal.
It's a total swindling fleece job if I'm reading that correctly.
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The latest: http://caledonianrecord.com/main.asp?SectionID=180&SubSectionID=778&ArticleID=128349
I'm not sure if they have raised "90% of what is needed" and have $90 million and need 20 more investors for $10 million more dollars, or if they really have "$77 million" and need about "40 more investors", or about $20 million more. It says both.
I'm not sure if they have raised "90% of what is needed" and have $90 million and need 20 more investors for $10 million more dollars, or if they really have "$77 million" and need about "40 more investors", or about $20 million more. It says both.
VTKilarney
Well-known member
On Vermont Public Radio it was reported that they need 40 more investors.
VTKilarney
Well-known member
Here is a link to the VPR article:
http://digital.vpr.net/post/scientist-explains-need-biotech-facility-newport
http://digital.vpr.net/post/scientist-explains-need-biotech-facility-newport
I figured that they had $77-80 million raised and needed 40 more people. I attributed the Cal Rec statements, regrettably, to an error or misunderstanding.
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