SAN DIEGO--(BUSINESS WIRE)--Mentor Capital, Inc. (OTCQB: MNTR) reports that it has entered into a contract to receive $1,287,000 in funding to support its medical marijuana efforts in exchange for 757,059 shares at a price of $1.70 per share. The long-term funding will be delivered evenly over an eleven year schedule which implies a 17.73% annual growth rate for Mentor Capital, Inc. According to the Company, the investing party will become a 4.9% shareholder in exchange for cash infusions over time equal to approximately 11.5% of the current market capitalization of Mentor Capital.
“This is the second step we have taken with this angel investor and we appreciate the continued vote of confidence. In our previously concluded $117,000 transaction, Mentor profited by a 30% discount over eight months or a 45% annualized rate of return,” according to CEO, Chet Billingsley. “These are each examples of how we attempt to make every corporate investment action accretive to our shareholders.”
About Mentor Capital: The Company seeks to take significant positions in medical marijuana and cannabis companies to provide public market liquidity for founders, protection for investors and to incubate private cannabis companies that have the potential to be spun off as stand-alone public companies. Additional important information for investors is presented at: www.MentorCapital.com.
This press release is neither an offer to sell, nor a solicitation of offers to purchase, securities.
Forward Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales, problems securing the necessary financing to continue operations, problems involving continued illegality of cannabis products, potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting knowledgeable personnel and in protecting intellectual property. Further information concerning these and other risks is included in the Company’s 10-K filing which, along with other very important information about the Company, can be found here:
The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events or circumstances occurring after the date of this press release.