MJardin Group Completes Non-Brokered Private Placement and Share Issuance to Robes Inc.
January 15 2020 - 8:00AM
MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR)
(OTCQX: MJARF), a leader in premium cannabis production, announced
today the closing of a non-brokered private placement and share
issuance of 4,716,982 common shares at a price of C$0.212 for an
aggregate subscription amount of C$1,000,000. Robes Inc., a luxury
cannabis brand house focused on bringing exotic and rare strains to
Canadian consumers, subscribed for the full amount of the private
placement.
MJardin has previously announced that it will
dedicate a portion of its cultivation canopy space to grow Robes’
exclusive strains as part of their November 2019 contract. MJardin
will also use a portion of the proceeds to construct a packaging
line at its “WILL” facility in Ontario in order to satisfy
anticipated demand for packaged Cannabis products for retail
distribution.
“We are proud that Robes has entrusted MJardin’s
cultivation expertise to grow its unique and rare strains,
including the coveted Afghani Bullrider strain,” said Pat Witcher,
CEO of MJardin. “In addition, the implementation of a packaging
line will allow MJardin to enjoy the economic benefits of selling
directly into the retail marketplace. We look forward to taking the
next step and are excited to supply BLLRDR as well as other MJardin
proprietary strains to the Canadian market.”
Robes Inc. owns brands such as
BLLRDR and Robes Cannabis, and has an extensive
catalogue of market-leading cannabis genetics including the Afghani
Bullrider. BLLRDR is a cannabis brand
collaboration with Noah “40” Shebib, and legendary grower and
breeder of the Afghani Bullrider, Jeff Tek.
About MJardin Group
MJardin is a cannabis management platform with
extensive experience in cultivation, processing, distribution and
retail. For over 10 years, MJardin has refined cultivation
methodologies, developed state of the art facilities and
implemented vertical integration for and on behalf of license
owners. MJardin is based in Denver, Colorado and Toronto, Canada.
For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the
merits of and has neither approved nor disapproved the contents of
this news release. This news release does not constitute an offer
to sell or a solicitation of an offer to sell any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Forward-Looking Information
This news release contains forward-looking
information based on current expectations. Statements about, among
other things, future developments and the business and operations
of MJardin, our production capacity, our production results, the
receipt of any pending regulatory approvals or licenses, the growth
of our global footprint and our intentions to leverage our scale
for continued organic growth and to pursue strategic investments
are all forward-looking information. These statements should not be
read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those implied by such statements.
Such factors include, but are not limited to: our ability to
identify and pursue growth, financing and other strategic
objectives, and the regulatory and economic environments in the
jurisdictions we operate or intend to operate or invest in.
Although such statements are based on management’s reasonable
assumptions at the date such statements are made, there can be no
assurance that the proposed acquisition will occur and that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Accordingly,
readers should not place undue reliance on the forward-looking
information. MJardin assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances
unless required by applicable law.
INVESTOR CONTACT:Ali Mahdavi Capital Markets
& Investor
Relations 416-962-3300 Ali.mahdavi@MJardin.com |
Pat Witcher Chief Executive
Officer720-613-4019Pat.Witcher@Mjardin.com |
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