SAN DIEGO--(BUSINESS WIRE)--Mentor Capital, Inc. (OTCQB: MNTR) announced that its legal move to Delaware is complete. “Our goal was to establish the legal base for completing securities compliant spinoffs of quality cannabis and medical marijuana companies in a cost effective manner,” explains Mentor CEO, Chet Billingsley. “Delaware has a well codified securities and business law system that well supports Mentor’s comprehensive program and is often the choice of domicile for more sophisticated NASDAQ and NYSE companies.”
Mentor Capital has observed that many cannabis company founders have great businesses, but have not grown to their level of success while rubbing shoulders in an IPO-rich environment like one might find in Silicon Valley or in biotech. As a result, they may be convinced to seek to go public by reverse merger only to lose 10% to 25% of their company to former gold mine shareholders, to be trapped into death spiral financing and to operate without well developed, auditable financial reporting.
“We’ve designed the Mentor Capital program as a beneficial alternative for all parties that are looking to properly move forward in the growing medical marijuana market,” concludes Billingsley.
About Mentor Capital: The Company seeks to come alongside and assist medical marijuana and cannabis companies and to assist founders in meeting their objectives, to add protection for investors and to help incubate private cannabis 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 and 10-Q filings including the Company’s most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 which, along with other very important information about the Company, can be found filed with the SEC and 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.