TORONTO, April 09, 2018 (GLOBE NEWSWIRE) -- Captor Capital (“CPTR” or the “Company”) (CSE:CPTR) (FRANKFURT:NMV) (OTC:NWURF) announced today that I-5 Holdings Ltd. (“I-5 Holdings”) had gross revenues of US$7.57 million (CDN$9.67 million) from its two southern California dispensaries in the three-month period ended March 31, 2018. Captor entered into a definitive purchase agreement to acquire all of the outstanding shares of I-5 on February 16, 2018, the closing of which is in escrow pending the satisfaction of certain outstanding conditions precedent that Captor expects to occur shortly.
“We are now seeing our first investment target in the California cannabis industry produce some very impressive revenue numbers,” said Captor President John Zorbas. Mr. Zorbas continued, “Our intention is to continue with our strategic focus of making investments in high-end cannabis retail stores and cultivation facilities in California as demonstrated by Captor’s recently announced proposed investment in Growth Network Solutions, which owns two southern California dispensaries, a 45,000 square foot cultivation facility and 29.5 acres of land on which it intends to build a 500,000 square foot cultivation facility.”
Founder and CEO of I-5 Holdings John MacPhail said, “We are pleased to see such strong revenue numbers from our dispensaries in the first quarter of recreational cannabis sales in California.” Mr. MacPhail added, “I attribute this success to our highly skilled and experienced team at I-5, along with Captor’s continued investment support.”
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 spanning the technology, resource, and cannabis industries, including Millennial Esports, URU Metals, and I-5 Holdings, which owns the West Hollywood and Santa Ana MedMen cannabis dispensaries, amongst other assets.
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John Zorbas, President
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.
Source:Captor Capital Corp.