SAN DIEGO--(BUSINESS WIRE)--Mentor Capital, Inc. (OTC Markets: MNTR) announced that it has provided seed funding to help launch an independently managed cannabis focused fund based in Nevada. The fund anticipates making marijuana related investments in Nevada and in other locals.
This seed financing was provided through Nevada Cannabis Ventures, Inc., a wholly owned subsidiary of Mentor Capital, Inc.. The Nevada company was formed by Mentor Capital to take advantage of the emerging cannabis legalization in that state. The projected environment in Nevada could be especially advantageous for Mentor Capital’s business because it allows for outside ownership, investment and legal usage by visitors.
Mentor Capital, Inc. CEO, Chet Billingsley, highlights, “Our initial early investment is $100,000. We like the management team, who are well known to us.” With regard to the Mentor Capital subsidiary, he continues, “Much like with this first investment, Nevada Cannabis Ventures is well positioned to capitalize on the new opportunities in Nevada. As we executed our plan to rotate out of cancer focused investments and become more completely vested in the cannabis market, opportunities for redeployment of cash assets into neighboring Nevada marijuana related businesses are and will continue to be attractive.”
About Mentor Capital: By acquisition or stock purchase, Mentor Capital, Inc. seeks to invest in leading cannabis companies. Additional important information for investors and founders seeking expansion funding is presented at: www.MentorCapital.com
Forward Looking Statements, Safe Harbor and Risk Descriptions are Incorporated by Reference from the MNTR Company Web Site above.