Ample Organics Inc., a seed-to-sale software provider, has closed a Series A round of financing led by Osmington Inc. and Green Acre Capital.
Toronto based Ample Organics raised $[mepr-active rule=”374″ ifallowed=”hide”]#Premium Subscribers ONLY Content – Research and Intelligence – know others do not know, be informed.#[/mepr-active][mepr-active rule=”374″]6.88 million through the issuance of common shares and Series A-1 preferred units priced at $1.50 per share. 36 Canadian investors from Alberta, BC, Manitoba, Ontario and Saskatchewan and 1 investor from the Bahamas participated in the financing.[/mepr-active]
Dentons Canada LLP acted as legal counsel to Ample Organics.
Ample Organics intends to use new funds to support its growth plans for the cannabis industry.
photo credit: Ample Organics
Ample Organics Inc. receives strategic investment from Osmington Inc. and Green Acre Capital to support rapid expansion in booming cannabis industry
Toronto, July 09, 2018 (GLOBE NEWSWIRE) — Ample Organics Inc., Canada’s leading seed-to-sale software provider, announced a strategic investment lead by Osmington Inc. and Green Acre Capital that will support Ample Organics’ growth plans for the cannabis industry.
“We are pleased to have Osmington and Green Acre Capital as strategic partners as we continue our mission to build advanced business technologies for the cannabis industry,” said John X. Prentice, President and CEO of Ample Organics. “Both Osmington and Green Acre Capital bring a multitude of advantages to Ample Organics. Green Acre Capital brings tremendous cannabis industry expertise to the table and Osmington’s wide network will be instrumental in fostering our international expansion strategy.”
Ample Organics is the premiere software choice for cannabis seed to sale tracking and reporting. The platform is currently used by the majority of Canadian licensed producers and is a complete ecosystem for cannabis businesses that facilitates compliance with government regulations. Designed to manage cannabis cultivation, production, packaging, shipping, sales, and reporting, the system also maintains a patient database and eCommerce storefront. Beyond seed to sale, Ample Organics offers an extended suite of products and solutions including AmpleCare, a secure platform connecting licensed producers with clinics for streamlined patient registration, and AmplePayments, which provides competitive, cannabis-exclusive payment and credit solutions.
“We have spent a considerable amount of time studying the emerging cannabis industry and believe Ample Organics is one of the best opportunities that we have come across to get exposure to this rapidly developing global industry,” said Vlad Amurjuev, Osmington’s Director of Business Development. “Ample’s dominant market share is a testament not only to the quality of its market leading product, but also to their talented team, led by John. We are thrilled to make this investment and look forward to supporting Ample in its growth trajectory”.
“John and his team have built a great suite of software solutions that have become the gold standard among LP’s and LP applicants,” said Matt Shalhoub, Managing Director of Green Acre Capital. “We feel they are very well positioned to continue to dominate the cannabis software markets both in Canada and internationally. We look forward to continuing to be a part of the Ample growth story.”
About Ample Organics Inc.: Founded in 2014, Ample Organics has been adopted by more Canadian licensed producers than any other cannabis software solution. Our team of cannabis industry and technology experts designed the platform to facilitate compliance and transparency while enhancing overall business efficiency and organizational intelligence. The company has grown exponentially and continues to be the most trusted solution for cannabis producers, manufacturers, distributors, physicians, clinics, laboratories, retailers, and educators.
About Osmington Inc.: Formed in 1995, Osmington is a private commercial real estate company, owned and controlled by David Thomson, Chairman of Thomson Reuters. Osmington operates with the highest degree of integrity and has a stellar reputation in the Canadian real estate market. The Company’s investment focus has been and continues to be focused on value creation. Signature projects for the Company include the retail redevelopment of Toronto’s Union Station, the purchase and relocation of NHL’s Atlanta Thrashers to Winnipeg to become the Winnipeg Jets and the development of the world’s largest hardware technology innovation hub, Catalyst 137.
About Green Acre Capital: Green Acre Capital is a private investment fund focused on the Canadian medical and recreational cannabis industry with consideration for international opportunities. The Fund plans to invest in multiple sectors of the cannabis value chain, and to create an ecosystem amongst portfolio investments that will help fuel growth and innovation.
Peter Slater, VP of Corporate Development
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