Deal Announcement: Northern Leaf

CHRYSTAL CAPITAL INTRODUCES FAMILY OFFICES AND UHNWI INVESTORS INTO NORTHERN LEAF

Chrystal Capital Partners LLP (“Chrystal”), a Mayfair based corporate finance and investment house, is pleased to announce that it has acted as exclusive financial advisor to Northern Leaf Limited (“Northern Leaf”), a Jersey based medical cannabis cultivator, on its £3m Pre-IPO preference share fundraise. 

Chrystal has been involved with the management team at Northern Leaf since its inception in 2019, acting as the exclusive advisor on its £1.9m founders round in 2020, and on the subsequent £14.25m Convertible Loan Note raise in March 2021. Since then, the company has achieved a number of critical milestones: 

• Awarded the second ever commercial high THC licence behind GW Pharma 22 years prior. 

• Built out a state of the art 75,000 sq. ft cannabis cultivation, drying and processing facility capable of delivering 9 tonnes of cannabis flower per annum. 

• Secured multiple exclusive high THC genetics strains which have now been grown across numerous batch cycles proving quality and consistency of flower for the European medical cannabis markets. 

• Passed final facility inspections by the MHRA, positioning Northern Leaf to be awarded EU GMP accreditation, expected imminently, which will enable sales across Europe and other medically legal jurisdictions globally.  

• Employed a number of highly experienced industry personnel across the critical areas of cultivation, operations, sales, quality control and regulation. 

• Appointed market leading advisors across accounting, legal and broking in anticipation of a summer 2023 IPO onto the London Stock Exchange. 

“We are delighted to have supported and advised Northern Leaf again on its third financing. Since inception the strategy has always been to build a European leading medical cannabis business to provide critical and much needed medical products to millions of patients across Europe and further afield suffering from a wide variety of ailments. This additional capital raise will allow Northern Leaf to continue on that path to becoming one of the most strategically important assets in Europe whilst providing much needed medical solutions to patients currently lacking high quality EU GMP supply.”

— Kingsley Wilson, Investment Partner, Chrystal Capital

“Chrystal Capital has been a strong supporter and advisor to Northern Leaf, since its inception in 2019, being integral to our growth and market positioning success. We are excited, after years of capital investment, regulatory clearances, and building the right management team, to begin the monetisation phase of this world class European medical cannabis asset.”

— Don Perrott, CEO, Northern Leaf

About Northern Leaf 

Northern Leaf is a medical cannabis cultivator based in Jersey that, in December 2020, was granted the first UK commercial high THC medical cannabis license since UK based GW Pharmaceuticals (NASDAQ:GWPH) in 1998. The Company is leading the development of a new industry for the British Isles, creating centres of excellence, using state-of-the-art tracking systems and robust policies and procedures to ensure the highest levels of quality from seed to sale. With a secure, operational facility already built, Northern Leaf will grow commercial quantities of medical cannabis for the rapidly growing European market, including the key markets of the UK, Germany, and Israel.  

For more information about Northern Leaf, please visit https://www.northern-leaf.com/. 

About Chrystal Capital Health and Wellness 

Within Chrystal Capital Health & Wellness division, we have one of the leading Cannabis Corporate Finance advisory teams in Europe. They have closed 19 cannabis deals in the last six years, raising and advising on over US$475m of transactions in the pharmaceutical, medical, wellness and cannabis sub-sectors across Europe, North America, and Latin America. They are actively advising clients on IPOs, dual-lists, private capital raises and M&A. 

For more information about Chrystal Capital please visit https://www.chrystalcapital.com.

For further information please contact: 
Kingsley Wilson

Investment Partner
kingsley.wilson@chrystalcapital.com 
https://www.chrystalcapital.com 

Deal Announcement: Albert Labs

SUCCESSFUL CA$4.4m FINANCING FOR ALBERT LABS INC. (CSE: ABRT) TO A LISTING ON THE CANADIAN STOCK EXCHANGE

Chrystal Capital Partners LLP (“Chrystal”), a Mayfair-based corporate finance and investment house, is pleased to announce that it has raised CA$4.4m from its family office and UHNWI network into Albert Labs Inc (“Albert Labs”; CSE:ABRT) which simultaneously listed on the Canadian Securities Exchange. Albert Labs is the first psychedelic company leveraging Real World Evidence Studies to reduce the time and expense necessary to deliver therapies to patients with urgent unmet needs, and accelerate access to psychedelic therapy in hospital settings across the UK & Europe for cancer related anxiety and depression indications initially.

“There is little doubt that mental health and wellness related issues will be one of the largest secular growth sectors over the next decade. Psychedelics have a long and proven track record in being a core solution to multiple mental health issues that affect millions of people annually. Albert Labs is at the forefront of bringing much needed solutions to people with unmet needs and we were delighted to see such a strong response from our investors allowing us to raise the company CA$4.4m into its RTO onto the Canadian Securities Exchange. We look forward to helping finance Albert Labs as it continues to develop much needed and highly effective psychedelic related products, initially in the UK and Europe and ultimately globally.”

— Kingsley Wilson, Partner, Chrystal Capital

“With laboratories in Canada and Portugal, and through our relationships with cancer clinics in the UK such as Christies, we are fully focused on bringing our psilocybin related products to market to provide a much needed solution for millions of patients suffering from cancer related mental health and wellness issues. We will be using Real World Evidence regulatory pathways to accelerate the timelines to providing our novel products to patients and look forward to releasing patient data in due course as we progress an accelerated timeline to a licenced product.”

— Chand Jagpal, Director, COO, Albert Labs

About Albert Labs

Starting with cancer-related anxiety, depression and existential crisis, Albert Labs will bring psilocybin-assisted therapy to the UK and Europe before expanding globally.

Albert forms collaborations to access existing research experts, clinical infrastructure and patient pools to deliver its psychedelic-assisted therapies. Minimal Capex required vs companies developing novel molecules or clinic settings (i.e. Compass, Field Trip etc.) Working with the largest oncology centre in Europe to drive access to psychedelic assisted therapy.

Albert owns the study data to develop and protect its recognized psilocybin-based therapies. Albert Labs has a particular focus on natural psilocybin cultivation for which we have submitted a patent application. The patent enables Albert Labs to scale their natural mycelium and produce consistent EU GMP psilocybin and the other synergistic actives.

Learn more at https://albertlabs.com/

For further information please contact:
Kingsley Wilson

Investment Partner

kingsley.wilson@chrystalcapital.com
https://www.chrystalcapital.com

Deal Announcement: Yooma Wellness

Successful £7.5m financing for Yooma Wellness Inc (CSE:YOOM) concurrent to a dual-listing onto the UK's AQSE Growth Market (AQSE:YOOM)

Chrystal Capital Partners LLP, Europe’s leading cannabis corporate finance and investment house, is pleased to announce that it has acted as European Capital Markets adviser to Yooma Wellness Inc. (”Yooma”), a global vertically-integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, on a £7.5m financing concurrent to a UK dual-listing on the Aquis Stock Exchange Growth Market (AQSE Growth Market). Common Shares will commence trading on the AQSE Growth Market at 8 am BST today, under the ticker YOOM. For each subscribed placing share at C$0.90 (£0.5232) per share, (the "Placing Price"), investors have been granted a half warrant ("Warrants") exercisable at a price of C$1.35 (£0.7849) per share. Yooma has granted 7,125,249 Warrants in total, which will expire three years after listing on AQSE.

Yooma is the first North American Cannabis company to dual-list in London. The financing is the largest ever capital raise for a cannabis company on Aquis and the 4th largest Aquis financing in 2021.

Yooma has also granted a single strategic investor ("Strategic Investor") an option ("Option") to acquire 9,555,555 Common Shares at the Placing Price, that will raise an additional £5m gross proceeds for the Yooma if exercised, which would bring the total amount raised in the financing to £12.5m. Subject to exercise of the Option, the Strategic Investor will be granted 4,777,777 Warrants on the same basis as the other investors. The Option has been granted to September 17th, 2021, due to delays in the Strategic Investor setting up its proposed holding structure for the investment. Yooma is however satisfied that due diligence has been completed by such party and the additional time will allow administrative arrangements to be completed prior to an investment of £5m.

The fundraise also attracted strong support from the UK’s leading institutional cannabis investor, AIM-quoted investment company Seed Innovations Ltd, (“SEED”) alongside other UK institutional investors, professional family offices and ultra-high-net-worth individuals.

Completion of this financing will allow Yooma to focus on building the world’s largest CBD and wellness business. Yooma will use the proceeds to finance the cash portion of several strategic acquisitions and for other general corporate purposes.

“We are delighted to have advised Yooma on its successful, fundraise. This is the 4th Cannabis deal that CCCA has closed in the last eight months. Our unique cannabis sector expertise, together with our extensive relationships with cannabis investors, continues to deliver much-needed growth capital to this exciting, fast growing industry. CCCA will continue to work closely with the management team as Yooma continues to grow.”

— Tristan Gervais, Head of Chrystal Capital Cannabis Advisory

“We are pleased to have completed this financing and UK dual-list, including the addition of many UK and European based shareholders, which will allow Yooma to continue its rapid growth through strategic acquisitions. Once the Option has been exercised the financing will be oversubscribed which will accelerate Yooma’s growth and quest to become a global leader in the CBD and wellness space. Chrystal has played a critical role in raising the capital from their unique network of European cannabis investors.”

— Lorne Abony, Chairman of Yooma

About Yooma Wellness Inc.

Yooma's mission is to build a vertically-integrated global leader in the manufacturing, marketing, distribution, and sale of wellness products including hemp seed oil and hemp-derived and cannabinoid (CBD) ingredients. The company leverages strategically curated sales channels and ecommerce networks to deliver a diverse mix of wellness products through operating subsidiaries in the United States, United Kingdom, France and Japan. Learn more at www.yooma.ca.

For further information please contact:
Kingsley Wilson
Investment Partner
kingsley.wilson@chrystalcapital.com
https://www.chrystalcapital.com

Deal Announcement: CiiTECH

Successful capital raise for CiiTECH Limited of £2.1m convertible loan notes ahead of a Reverse Takeover of Fragrant Prosperity Holdings Limited

Chrystal Capital Partners LLP, Europe’s leading cannabis corporate finance and investment house, is pleased to announce that it has acted as exclusive financial adviser to CiiTECH Limited, (“CiiTECH”) a UK headquartered, Israel-based, branded cannabis healthcare company on its £2.1m capital raise via an issue of Convertible Loan Notes, (the “CLN Issue”).

The fundraise attracted strong support from the UK’s leading institutional cannabis investor, FastForward Innovations Ltd, (“Fast Forward”) alongside professional family offices and ultra-high-net-worth individuals.

CiiTECH will deploy the capital raised to implement its marketing strategy, invest in new talent, build essential operational infrastructure to support future growth and finance the planned Reverse Takeover, (“RTO”) with Fragrant Prosperity Holdings Limited, (“Fragrant Prosperity”) a specialist cannabis investment vehicle listed on the London Stock Exchange, whose shares have been suspended pending completion of the RTO.

“We are delighted to have advised CiiTECH on its successful fundraise and on finding an excellent partner in Fragrant Prosperity. Our unique cannabis sector expertise, together with our extensive relationships with cannabis investors, continues to deliver much-needed growth capital and M&A solutions to this exciting, fast growing industry. CCCA will continue to work closely with the management team on the RTO and beyond as CiiTECH continues to grow.”

— Tristan Gervais, Head of Chrystal Capital Cannabis Advisory

“We are pleased with the strong interest in this fundraise, which will allow CiiTECH to continue to execute our aggressive growth strategy. I thank all our new and existing investors for their support as we build the business and pursue exciting opportunities. Chrystal has played a critical role in not only raising the capital but also finding an optimal capital markets partner in Fragrant Prosperity.”

— Clifton Flack, Founder and CEO of CiiTECH

About CiiTECH

CiiTECH has generated over £7.0 million in revenue since its inception in 2017, with its flagship brand Provacan. The business has a strong pipeline of additional brands, including Impact and Hugg. Expansion into new high-growth markets, such as Brazil and South Africa, is complimented by exciting research partnerships with leading academic institutions.

CiiTECH is a brand-building, consumer focused company dedicated to ongoing cannabis research and the commercialisation of cannabis products. It uses its partnerships with leading institutions and scientists to create niche consumer brands. The company continually innovates as it strives to create the best science-led brands in the cannabis sector. CiiTECH is currently funding a range of clinical studies aimed at unraveling the large range of minor cannabinoids, bringing better understanding and more effective products to market.

For more information about CiiTECH, please visit https://www.ciitech.co.il

For further information please contact:
Kingsley Wilson
Investment Partner
kingsley.wilson@chrystalcapital.com
https://www.chrystalcapital.com

Deal Announcement: Ceiba Healthcare

Chrystal Capital advises CEIBA Healthcare on $10m fundraise

Chrystal Capital Partners LLP (“Chrystal”), a Mayfair-based entrepreneurial corporate finance and investment house, is pleased to announce that it has acted as financial advisor to CEIBA Healthcare (“CEIBA”), a Healthcare Technology company that is focused on Connectivity, Telehealth and Telemedicine on its US$10m placing. The company’s products are FDA registered and have won government contracts, signed partnership agreements in the US and are deployed in the Middle East and the US.

“We are delighted to have supported CEIBA, one of the Telehealth market’s most exciting technology companies.  CEIBA’s fundraise was led by two healthcare focused private equity groups and supported by family offices from within Chrystal’s network. The company’s connectivity product is interoperable with over 95% of all medical devices in an ICU, while their clinical decision and remote patient monitoring platforms products are revolutionary. Ceiba has solved the interoperability issue between medical devices in an ICU and offers wave form technology to virtual teams across the hospital network. We look forward to seeing the company grow globally”

— Raj Karia, Director at Chrystal Capital

About CEIBA Healthcare

Established in 2016, Ceiba Healthcare Group has developed healthcare technology products and solutions to turn ICU beds into true digital form. Ceiba eConnect Smart IoMT box captures data from medical devices and using Ceiba eClinics Platform displays the data in real time in visible, recordable and actionable format. Ceiba technology transforms hospitals in achieving limitless medical device integration irrespective of brand and real time patient data monitoring. With digital ICU beds, hospitals can provide full telehealth solutions and achieve efficiencies saving time and money while providing better patient care.

Ceiba’s AI-based algorithmic predictive analytics engine, ZeqAI, accurately predicts Sepsis, Septic Shock, Mortality, Length of Stay and Acute Kidney failure, and can be applied to predict other diseases.  ZeqAI analyses hundreds of data parameters at high frequency from endless medical devices via Ceiba eConnect Smart IoMT box to predict whether or not a patient is going to develop Septic Shock 48 hours before onset and provide real time information to assist medical professionals. Please visit https://www.ceiba-healthcare.com/about-us.html for more.

For further information please contact:

Raj Karia

Raj.Karia@chrystalcapital.com
https://www.chrystalcapital.com

Deal Announcement: Northern Leaf

Chrystal Capital acts as exclusive advisor to Northern Leaf on £14m fundraise

Chrystal Capital Partners LLP (“Chrystal”), a Mayfair-based entrepreneurial merchant bank, is pleased to announce that it has acted as exclusive financial advisor to Northern Leaf Limited (“Northern Leaf”), a Jersey based medical cannabis cultivator, on its £14m raise via an issue of Convertible Loan Notes (the “CLN Issue”).

• The CLN Issue was five times oversubscribed based on the initial target raise of £5m, resulting in the investment being significantly upsized.

• The fundraise was strongly supported by five global institutional cannabis investors alongside numerous family offices and ultra-high-net-worth individuals.

• The capital raised will be used to make final improvements to Northern Leaf’s current 75,000 sq. ft. facility to ensure it receives both EU-GMP (Good Manufacturing Practice) and GACP (Good Agricultural and Collection Practice) qualifications.

• In addition, Northern Leaf will accelerate its capital expenditure program into extraction, manufacturing and formulation equipment and explore strategic partnerships.

• Northern Leaf is seeking to become a European market leader in the supply of high-quality EU-GMP grade medical cannabis flower and oil to the rapidly growing European medical cannabis market where patient demand continues to accelerate.

“We are delighted to have advised Northern Leaf, a company that Chrystal have invested in and supported since its inception in 2019, on this highly successful, heavily oversubscribed £14m raise. Our unique cannabis sector expertise, together with our extensive relationships with cannabis investors, continues to deliver much needed growth capital to this exciting, fast growing medicinal industry. Having now completed this second private capital raise for Northern Leaf, taking the total raised to £17m, CCCA will continue to work closely with the management team on a number of strategic initiatives in Europe to add material value ahead of the planned IPO on the London k Exchange.”

— Tristan Gervais, Head of Chrystal Capital Cannabis Advisory (“CCCA”)

About Chrystal Capital Cannabis Advisory

CCCA is the only dedicated Cannabis Corporate Finance advisory team in Europe. CCCA’s team has closed 15 cannabis deals in the last 4 years, raising and advising on over US$445m of transactions in the pharmaceutical, medical, wellness and cannabis sub-sectors across Europe, North America and Latin America. CCCA is actively advising clients across numerous Investment Banking product areas such as IPOs, dual-lists, private capital raises and M&A.

About Northern Leaf

Northern Leaf is a medical cannabis cultivator based in Jersey that, in December 2020, was granted the first UK commercial high THC medical cannabis license since UK based GW Pharmaceuticals (NASDAQ:GWPH) in 1998. The Company is leading the development of a new industry for the British Isles, creating centres of excellence, using state-of-the-art tracking systems and robust policies and procedures to ensure the highest levels of quality from seed to sale.

With a secure, operational facility already built, Northern Leaf will grow commercial quantities of medical cannabis for the rapidly growing European market, including the key markets of the UK, Germany and Israel. For more information about Northern Leaf, please visit https://www.northern-leaf.com/.

For further information please contact:
Kingsley Wilson
Investment Partner
kingsley.wilson@chrystalcapital.com
https://www.chrystalcapital.com

Deal Announcement: EMMAC Life Sciences

Chrystal Capital Partners LLP acts as exclusive financial advisor to EMMAC Life Sciences Group on its £15m raise via successful issue of convertible notes

Chrystal Capital Partners LLP ("Chrystal"), a Mayfair-based entrepreneurial corporate finance and investment house, is pleased to announce that is has acted as exclusive financial advisor to EMMAC Life Sciences Group ("EMMAC"), Europe's largest independent cannabis company, on its £15m raise via an issue of Convertible Loan Notes (the "CLN Issue"). The CLN Issue saw strong support from existing shareholders, with Measure 8 Venture Partners LP, EMMAC's largest existing cash investor, leading the round with a significant investment.

Chrystal's cannabis group, Chrystal Capital Cannabis Advisory ("CCCA"), is the only dedicated Cannabis Corporate Finance advisory team in Europe. This raise marks the 13th cannabis deal that CCCA's team has closed in the last 4 years. CCCA's team have now raised and advised on over $400m of transactions in the cannabis sector, across North America, Latin America and Europe.

“We are delighted to have advised EMMAC, Europe’s largest independent cannabis company, on this successful, oversubscribed £15m raise. Our cannabis sector expertise, married with our deep relationships with cannabis investors, continue to deliver much needed growth capital to this exciting, fast growing industry. CCCA is uniquely positioned to back leaders like EMMAC as the secular wave of cannabis deregulation and legalisation continues to unfold at pace across the world.”

— Tristan Gervais, Head of Chrystal Capital Cannabis Advisory

About EMMAC Life Sciences Group

EMMAC Life Sciences Group is Europe's largest independent cannabis company, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. With a unique supply and distribution network throughout Europe, EMMAC's vision is to bring the life-enhancing potential of cannabis to the people who need it. For more information about EMMAC, please visit https://www.emmac.com/. 

For further information please contact:

Kingsley Wilson
Investment Partner
kingsley.wilson@chrystalcapital.com
https://www.chrystalcapital.com

Deal Announcement: Candid Co.

Candid Closes $63 Million Series B

Candid, a direct-to-consumer brand expanding access and affordability to oral health care, announced it raised a $63.4M Series B financing round. Participating in the round were Candid’s Seed and Series A investors, including Greycroft, Bessemer, and e.ventures, and featured participation from new investors, including RiverPark Funds, blisce, Redesign Health’s limited partners, and Mousse Partners. This brings Candid’s total funding to nearly $90 million.

The Series B round will fuel Candid’s rapid growth through both its retail and at-home channels, as well as provide capital to double the number of employees to 550 by the end of the year. Candid will be opening an additional 50 Candid Studios across the United States — bringing the total number of retail locations to more than 60 — offering an unparalleled in-person experience to those who seek it while continuing to offer remote treatment for patients in harder-to-access areas of the country. In just 18 months of operation, Candid has already opened 13 studios in major cities across the U.S. and served tens of thousands of customers.

Candid also announced it is donating $25 from every set of aligners it sells to Smile Train , a charity that supports free cleft surgery and comprehensive cleft care for children around the world. This partnership will result in at least 1,000 more cleft surgeries for children in 2019.

For more information or to view Candid’s studio locations visit Candidco.com

Deal Announcement: Harvest Health & Recreation

Harvest Health & Recreation Inc. Announces Completion of its Business Combination

Harvest Health & Recreation Inc. (the “Company”), formerly RockBridge Resources Inc. (“RockBridge”), is pleased to announce that it has completed its previously announced business combination (the “Business Combination”) with Harvest Enterprises Inc. (“Harvest”). In connection with the Business Combination, on November 13, 2018, an affiliate of Harvest, HVST Finco (Canada) Inc. (“Harvest Finco Canada”) completed a brokered private placement offering of subscription receipts for aggregate gross proceeds in the amount of US$218,149,676 (the “Offering”). The Offering was co-led by Eight Capital, Canaccord Genuity Corp. and GMP Securities L.P. (the “Co-lead Agents”), on behalf of a syndicate of agents including Beacon Securities Limited, Cormark Securities Inc. and Haywood Securities Inc. (collectively, the “Agents”). Eight Capital acted as the sole bookrunner in connection with the Offering.

Completion of the Offering

On November 13, 2018, Harvest Finco Canada completed the Offering pursuant to which Harvest Finco Canada issued 33,305,294 subscription receipts (the “Subscription Receipts”) at a price of US$6.55 per Subscription Receipt (the equivalent of C$8.67, based on the Bank of Canada exchange rate of C$1.3241 per US$1.00 on November 13, 2018) for gross proceeds of US$218,149,676. In connection with the closing of the Business Combination, 33,305,294 Subscription Receipts issued pursuant to the Offering were automatically converted into 33,305,294 common shares in the capital of Harvest Finco Canada and then exchanged into subordinate voting shares of the Company on a one-for-one basis.

The Company has received conditional approval from the Canadian Securities Exchange (“CSE”) for the listing of its Subordinate Voting Shares, which are expected to commence trading on the CSE under the ticker symbol “HARV” at market open on Thursday, November 15th, 2018. Listing is subject to the Company fulfilling all listing requirements of the CSE. Cassels Brock & Blackwell LLP acted as counsel and Marquis Partners LP acted as financial advisor to Harvest in connection with the transaction. Full details of the Company including the Business Combination are set out in the Company’s listing statement dated November 14th, 2018 (the “Listing Statement”). A copy of the Listing Statement can be found under RockBridge’s (now the Company’s) profile on SEDAR at www.sedar.com.

About Harvest Health & Recreation Inc.

Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology and operational expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. The company has more than 250 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations. Since its founding in 2011, Harvest has grown its footprint every year and now has licenses in eight states, with planned expansion into additional states by 2020. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public.

For more information, visit: https://www.harvestinc.com/.

Deal Announcement: Plena Global

Plena Global Holdings Inc.

Plena Global Holdings Inc. ("Plena Global") is a B2B medical cannabis supplier with a first 3.2M square foot cultivation asset operating outside Bogotá in Colombia, ~2,600 meters, or ~8,500 feet above sea-level.

Plena Global's large scale cultivation operation exists to support its role as a B2B supplier of pharmaceutical grade cannabis ingredients targeting companies such as GW Pharma, Merck and Pfizer that own patents on cannabis based medication, as well as traditional cannabis licensed producers such as Canopy, Aurora, Aphria, Tilray, and HEXO for whom outsourced supply partners can remove any production constraints.

The Plena Global model is designed to supply companies in the cannabis sector with the highest quality medical grade cannabis extracts with consistency and reliability.

“Our model is to grow and extract cannabis to the highest GMP compliant standards. Our products are grown to be consistent in quality and available in large quantity on a reliable basis. Companies that are regularly unable to bring cannabis-based products to market due to limited raw material supply require both a dependable supply chain and high-quality materials. Our heavy focus on compliance ensures we meet our customers high standards every time, and our unparalleled scale ensures we can meet their large-scale supply demands consistently.”

— Richard Zwicky, Plena Global's CEO

For more information please visit https://plena-global.com/

Deal Announcement: MPX Bioceutical Corp

MPX Raises US$40 Million Secured Convertible Loan to Fund Capacity Development of MPX Assets and Acquisitions

MPX Bioceutical Corporation (“MPX” or the “Company”) (CSE:MPX) (OTC:MPXEF) is pleased to announce that it has successfully completed a US$40,000,000 secured convertible original issue discount loan (the “Convertible Loan”) financing (the “Offering”) maturing on May 25, 2021 (the “Maturity Date”). While non-interest bearing, the Convertible Loan has been issued at a discount price of US$812.06 per US$1,000 of principal and will accrue value at a rate of 7% per annum compounding on a quarterly basis until the Maturity Date. The Convertible Loan has been issued through a wholly-owned Luxembourg subsidiary of MPX (“MPX Luxembourg”). 

Use of Proceeds

The proceeds of the Offering will be used primarily for accretive activities including capacity expansion, acquisitions, and to support activities involved with securing new cannabis extraction, production and dispensary licenses in various jurisdictions in both the United States and Canada.

In addition, US$9,500,000 will be reserved for payment of the seller notes due on June 30, 2018 in respect of the acquisition of 99% of the membership units of GreenMart of Nevada NLV, LLC in December 2017.

“The pace of growth in our industry continues to accelerate with several U.S. states launching new cannabis legalization programs, the Canadian provinces designing and implementing retailing initiatives and acquisition opportunities arising on both sides of the border and, indeed globally. We have been introduced to multiple expansion opportunities and will be providing our shareholders and the market with an update on our progress on several of these in the next few days”

— W. Scott Boyes, Chairman, President and CEO of MPX

“We are also witnessing the emergence of significant consolidation activity as several larger North American industry participants have made announcements regarding transactions that would result in larger national, or international, footprints for the combined entities. Larger cannabis entities will facilitate more effective brand awareness, product development and cost efficiencies. These are exciting times for our industry and having access to capital is critical for MPX to exploit the growth opportunities presented by this market. This current funding was arranged in a few short weeks without the need for the involvement of an investment bank demonstrating the confidence of shareholders and the capital markets in MPX’s business plans, its execution to-date and its growth trajectory”

— Mr. Boyes

About MPX Bioceutical Corporation

MPX, an Ontario corporation, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area.  With the acquisition of The Holistic Center, MPX adds another operating medical cannabis enterprise to its footprint in Arizona.

GreenMart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.

In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.

The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.