Maple Leaf Green World Inc. is a public company listed on the NEO Exchange (NEO:MGW) and OTCQX (OTCQX:MGWFF) focused on the cannabis sector. The Canadian company has plans to develop, construct, and operate cannabis production facilities and distribute cannabis products in Canada, the United States, and ultimately to the international market. The company is focused on cannabis-derived CBD oil for medical-use. With over ten years of extensive greenhouse management experience, Maple Leaf applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products. The company’s experience in combination with the land holdings in British Columbia, Nevada, and California make it uniquely positioned for success in the cannabis industry.
Captor Capital Sells Orange County Retail Location to MedMen
C.CPTR, C.MMEN |
TORONTO, Nov. 16, 2018 -- Captor Capital Corp. (“Captor” or the “Company”)(CSE:CPTR; FRANKFURT:NMV; USOTC:NWURF)
has signed a definitive agreement (“the Agreement”) to sell the retail operations and license for a dispensary location in Santa Ana, California, through an all-stock transaction with MedMen Enterprises Inc. (“MedMen”) (CSE: MMEN; OTCQX: MMNFF; FSE: A2JM6N) valued at approximately US$16 million. The store is currently MedMen branded and managed.
“Through the sale of this dispensary we have achieved a strong return on our original investment for our shareholders,” said Captor Capital CEO, John Zorbas. “With the completion of this divestment, Captor will continue upon our strategy of owning and developing a new set of self-operated retail store brands to support our cultivation, manufacturing, and distribution operations.”
Upon closing, MedMen will issue approximately 3,740,228 Class B Subordinate Voting shares (the “Shares”) to Captor Capital. At current market price, the Agreement transaction is valued at US$16,229,567. The final purchase price is subject to adjustment for accrued liabilities at the time of closing.
MedMen Chief Executive Officer Adam Bierman and President Andrew Modlin own a combined 2.8 percent of Captor Capital. As such, an independent committee of the Board reviewed and approved the transaction. Cormark Securities provided a fairness opinion to the Board of Directors of MedMen, stating that in its opinion, and based upon and subject to the assumptions, limitations, and qualifications set forth therein, the transaction is fair, from a financial point of view.
The Agreement is subject to regulatory approvals by various local and state authorities and other customary closing conditions. The Company expects the transaction to close within 60 days.
About Captor Capital
Captor Capital Corp. is a Canadian firm focused on the cannabis sector listed on the Canadian Securities Exchange, the OTC, and the Frankfurt Stock Exchange. A vertically integrated cannabis company, Captor provides recreational and medical marijuana based products to consumers via its leading brands and dispensary locations. ?The company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale. Captor currently has a number of revenue generating cannabis investments including a wholly owned MedMen branded dispensary in West Hollywood, the CHAI dispensary in Santa Cruz and Higher Ground in Castroville, CA. The Company also owns Mellow Extracts, a highly regarded producer of cannabis extracts based in Costa Mesa, CA. Captor Capital is currently looking at additional revenue generating investments in the cannabis space and will be updating the market in due course.
Gavin Davidson, Communications
Captor Capital Corp.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains or refers to forward-looking information, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.Related MJ Canada
Captor Capital Extracts More Growth
Captor Capital (CSE: CPTR; FRANKFURT: NMV; USOTC: NWURD) continues to grow its position in the cannabis sector. Investors learned that the company successfully sealed the acquisition of Mellow Extracts, LLC (“Mellow”), which will produce ultra-premium oil in a state-of-the-art extraction lab facility in Costa Mesa, California. In addition to this, Mellow will provide oils and premium concentrates to Captor’s retail outlets.
“Cannabis processing and manufacturing is an incredibly fast-growing market segment, and we believe Mellow will be an important asset for Captor,” said Captor CEO, John Zorbas. “It is a very exciting time with Mellow’s expansion in Costa Mesa and they fit the profile for Captor’s overall investment strategy in the space.”
With the acquisition done, Captor Capital has opened the door to augment its operations and increase total revenues from Captor’s retail cannabis investments.
[Captor Capital has acquired Mellow Extracts in Costa Mesa, California, which will produce ultra-premium oil in a state-of-the-art extraction lab facility.]
The Mellow Extracts acquisition follows acquisitions of leading cash generating cannabis dispensaries, including MedMen-branded locations in West Hollywood and Santa Ana, and the popular CHAI dispensary in Santa Cruz. Chai already boasts revenues of USD$8.4M (2017), as well as a license permitting cannabis delivery in the market area, giving investors much to chew on as Captor capitalizes on the broader range of cannabis products available through the Santa Cruz dispensary. The news gets even better. Renovations are getting started to triple the sales floor space in the dispensary, which will allow Chai to expand its product line-up to include a significantly broader selection of flowers, edibles, extracts and other cannabis products.
More and more investors are paying close attention to Cannabis concentrates known as cannabis ‘extract’. The segmented extract market includes pharmaceutical, cosmetic, paper and textile industries. Extracts serve many applications in the pharmaceutical industry and used to treat fatal diseases such as HIV-AIDS, posttraumatic stress disorder and other neurological problems.
They come in many forms: phoenix tears, shatter, wax, hash, vaporizers and oil being the most popular owing to high demand for its clinical use. Grandview Research reports that the oil segment is projected to record the fastest compound annual growth rate (CAGR) of 40.4% through 2025, while the recreational segment is expected to register a CAGR of 43.2%. Remember, oil is just one of the extracts.
[The cannabis oil segment is projected to record the fastest CAGR (compound annual growth rate) of 40.4% through 2025.]
With nearly 40 million residents and more than a million medical marijuana patients, California is expected to capture about a third of the North American cannabis market (PRN Newswire). Total cannabis sales are projected to reach $25 billion in that state alone, meaning that the production of extracts will keep Captor Capital and the CHAI dispensary very busy --- and profitable.
Having added Mellow Extracts’ extraction lab facility to Captor’s acquisitions of the Chai dispensary, as well as MEdMen locations, Captor Capital is poised to extract significant revenue from its growing footprint in the California cannabis market.
Continue watching this space for more news about this innovative cannabis company.
See a brief here: https://www.bloomberg.com/quote/CPTR:CN.
CSE: CPTR; FRANKFURT: NMV; US OTC: NWURDRelated Michael KrytonContributing Writer at Equity IRProfessionally, Michael has...
Cannabis Company Kaya Holdings,Inc. (OTCQB:KAYS) Completes Purchase of Eugene,Oregon Based Marijuana Grow and Manufacturing Facility in $1.55MM Deal to Feed Kaya Shack™ Supply Chain.
Portland, Oregon October 23, 2018 -- Kaya Holdings, Inc. (OTCQB: KAYS) announced today that it has concluded the purchase of the Eugene, Oregon based Sunstone Farms manufacturing facility, which is licensed by the OLCC (Oregon Liquor Control Commission) for both the production (growing) of medical and recreational marijuana flower and the processing of cannabis concentrates/extracts/edibles.
The purchase includes a 12,000 square foot building housing an indoor grow facility, as well as equipment for growing and extraction activity. The facility can produce in excess of 800 pounds cannabis flower annually as currently outfitted.
Pursuant to an interim Management Agreement entered into between the parties, the Company has assumed operations of the 12,000-square foot facility pending transfer of the licenses by the OLCC to Kaya Farms, upon completion of a satisfactory compliance review.
As part of planned expansion and renovations for the facility, KAYS (www.kayaholdings.com) has begun site improvements and is ramping up production to feed their four existing OLCC licensed cannabis retail stores which currently service the legal medical and recreational marijuana market in Oregon under the Kaya Shack™ brand (www.kayashack.com).
KAYS will update Shareholders as to crop production in the upcoming 3rd quarter 10-Q.
KAYS intends to utilize the processing facilities to grow their own top-shelf, connoisseur-grade marijuana flower, produce various brands of oils, edibles, concentrates and extracts, and develop medical grade laboratory facilities for the production of a proprietary Kaya Cannaceuticals™ line of both CBD and CBD/THC products for the health, skincare and medical industries.
Terms of Purchase
The purchase price of $1.3 million for the OLCC licensed marijuana production and processing facility, consisting of the building and equipment was paid for by the issuance of 12 million shares of KAYS restricted stock to the seller at closing. The shares carry a lock-up-restriction that allows for their staged eligibility for resale over a 61-month period from the date of the purchase of the facility by KAYS.
Additionally, the seller purchased 2.5 million restricted shares for $250,000 in cash in a private transaction with the Company. The funds are earmarked for capital improvements to the facility to increase both production capacity and improve efficiency
“This transaction will allow us to implement our vertical integration strategy so that we can increase both the quality and selection of marijuana flower and processed cannabis products we offer at our Kaya Shack™ stores, as well as lower our costs of goods and pass the savings on to our customers”, stated Craig Frank, CEO of KAYS. “Also, the success of the acquisition model - allowing us to leverage the value of our stock – encourages us to invite other cannabis companies to join under the Kaya banner and benefit from our greater value and competitive position while being able to access some of the equity that they have built in this emerging growth industry.
KAYS (OTCQB: KAYS), through subsidiaries, produces, distributes or sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods.
In 2014, KAYS, became the first publicly traded company to own and operate a Medical Marijuana Dispensary. Since that time KAYS has expanded and presently operates four Kaya Shack™ OLCC licensed marijuana retail stores to service the legal medical and recreational marijuana market in Oregon (www.kayashack.com). Additionally, in late 2017 KAYS recently acquired a 26-acre parcel in Lebanon, Oregon which it has targeted for development of the Kaya Farms™ Marijuana Grow Complex, and as reported above has completed the recent purchase of the Eugene, Oregon based Sunstone Farm Facility which holds OLCC (Oregon Liquor Control Commission) Licenses for both the production (growing) and processing of medical and recreational marijuana flower and cannabis concentrates/extracts/edibles.
IMPORTANT DISCLOSURE: KAYS is planning execution of its stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department's U.S. Attorney General Jeff Sessions Memo dated January 4, 2018, and subsequent commentary from the U.S. Attorney for the District of Oregon Billy Williams), and plans to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that KAYS and MJAI will obtain advice of counsel prior to actualizing any portion of their business plan (including but not limited to license applications for the cultivation, distribution or sale of marijuana products, engaging in said activities or acquiring existing Cannabis production/sales operations). Advice of counsel with regard to specific activities of KAYS, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For more information contact Investor Relations: 561-210-7664Related MJ Canada