Captor Capital Corp. (CSE: CPTR; FSE: NMV), a publicly-traded Canadian investment and merchant banking firm focused on mining, technology and industrial sectors, has closed previously announced subscription for Class B Membership Interests of MM Enterprises USA, LLC (MedMen), representing 2.3% of the issued and outstanding membership interests of MedMen on a fully diluted basis, for an aggregate subscription price of US $23 million.
MedMen is the largest cannabis retail chain in California, owning and operating production facilities and stores in three states, California, Nevada and New York. Captor’s investment enhances its strategic partnership with MedMen following the Company’s recent acquisition of I-5 Holdings.
photo credit: Captor Capital
March 29, 2018
Captor Capital Corp. Announces Closing of MedMen Investment
Ownership stake key part of on-going strategic partnership
TORONTO, ONTARIO — Captor Capital Corp. (“Captor” or the “Company”) (CSE: CPTR) (CSE: CPTR.CN) (CNSX: CPTR) (FRANKFURT: NMV) announced today that it has closed its previously announced subscription for Class B Membership Interests of MM Enterprises USA, LLC (“MedMen”), representing 2.3% of the issued and outstanding membership interests of MedMen on a fully diluted basis for an aggregate subscription price of USD $23 million.
“MedMen continues to consolidate its leadership position in the U.S..” said MedMen CEO and Co-founder Adam Bierman. “We are expanding our retail footprint in California, Nevada and New York and our new 45,000-square-foot factory in Northern Nevada is the largest, most high-tech cannabis facility in the state’s rapidly growing market. We are proud to be the premium vehicle into this market for Captor Capital and its shareholders.”
MedMen is the largest cannabis retail chain in California, which welcomed adult use recreational sales earlier this year. The company owns and operates production facilities and stores in three states (California, Nevada and New York) and is the preeminent retail brand in North America. Captor’s investment enhances its strategic partnership with MedMen following the Company’s recent acquisition of I-5 Holdings.
Upon the closing of the acquisition of I-5 Holdings coming out of escrow, Captor will own two dispensaries in Los Angeles managed by MedMen in West Hollywood and in Santa Ana, California. Over the first two months of this year the West Hollywood location has seen tremendous growth year over year growth. While the Santa Ana location has quickly become the leading dispensary in the Orange County area.
“The success being enjoyed by our MedMen branded and managed dispensaries provide us with a template that is easily scalable throughout North America ” said Captor President, John Zorbas. “We continue to see record traffic and sales in our California dispensaries which reinforces that the US cannabis market will remain a strategic area of focus for Captor in partnership with MedMen.”
Captor continues to identify excellent investment opportunities in the cannabis sector and believes the partnership with MedMen will drive continued value for shareholders. The investment in MedMen underscores Captor’s goal to identify unique and growing opportunities in a diversified portfolio model.
“MedMen is a leading cannabis operator with deep brand awareness” continued Mr. Zorbas. “With MedMen’s announced intention to list publicly in Canada this year we expect the market to reward us for our early investment.”
About Captor Capital
Captor Capital Corp. is a Canadian investment firm listed on the Canadian Securities Exchange and the Frankfurt Stock Exchange. The company follows a strategy of acquiring profitable, established companies and organizations with growth potential that require capital to scale. Captor currently has investments in a number of companies and industries, including Millennial Esports in the technology sector, I-5 Holdings in the cannabis sector, and URU Metals in the natural resources sector. For more information visit http://www.captorcapital.com
About MedMen Enterprises
MedMen Enterprises is the United States’ preeminent cannabis company with multiple assets and operations in California, Nevada and New York. Combined, these key strategic states account for nearly half of North America’s addressable legal market. MedMen owns and operates licensed cannabis facilities in cultivation, manufacturing and retail, and is the most recognized cannabis brand in the world today. Based in Los Angeles, MedMen employs nearly 700 workers in 18 facilities across the U.S. For more information, visit http://www.medmen.com.
Investor Contact John Zorbas, President
Captor Capital Corp.
Media Contact Gavin Davidson, Communications Captor Capital Corp. 705.446.6630 email@example.com
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