DENVER--(BUSINESS WIRE)--MJardin Group, Inc. (“MJardin” or the “Company”) (CSE:MJAR), a leader in cannabis management, is pleased to announce that the Company will begin trading today on the Canadian Securities Exchange (the “CSE”) under the ticker “MJAR.”
“With more than ten years of professional cannabis cultivation, processing, distribution and retail, MJardin is among the world’s most experienced cannabis companies, with a proven track record of operational excellence,” said Rishi Gautam, Chairman & Chief Executive Officer of MJardin. “Listing on the Canadian Securities Exchange is a significant milestone in our evolution and a testament to our team’s dedication and focus on building a preeminent global cannabis management platform. As we enter the public markets, we believe that MJardin is well positioned for continued growth in the U.S. and Canada, as well as international expansion in Europe, Africa and Latin America.”
Since its inception, MJardin has designed and planned more than 100 facilities and produced and sold more than 100,000 kg of cannabis, achieving cultivation costs of $1.00 per gram and producing 360 grams per sq. ft. per year.
Earlier today, the Company also announced that it had entered into a binding letter of intent to acquire GrowForce Holdings Inc. (“GrowForce”), a vertically integrated international cannabis platform headquartered in Toronto. Following completion of the proposed acquisition, a combined MJardin Group would have 49 facilities operating or under development across North America, cultivating approximately 87,000 kg of finished product per annum and managing 23 cultivation facilities, two outdoor grows, five extraction facilities and 19 retail dispensaries across four U.S. states and four Canadian provinces.
MJardin believes that it has the financial strength and flexibility to execute its growth strategy consisting of the following core pillars:
- U.S. Consolidation – expand by leveraging MJardin’s pre-existing relationships and ability to consolidate undervalued cannabis assets throughout the supply chain
- Canadian Expansion – continue executing on Canadian First Nations and non-First Nations expansion and asset consolidation strategy
- International Expansion – discussions underway for international assets, partnerships and joint venture arrangements in Europe, Africa and Latin America
- Research & Development – develop and test new cannabis applications including recently commenced medical epilepsy trials through a Spanish university partnership
- Consumer Packaged Goods – establish branded products across North America
- Operational Excellence – continuous improvement through organization-wide knowledge sharing and synergies
- Capital Markets – fund acquisitions and organic infrastructure investments through its partnership with Bridging Finance Inc., including the ability to access to non-dilutive growth capital and equity markets
About MJardin Group
MJardin is a specialized global cannabis management platform that develops partnerships with licensed operators. MJardin provides its partners turnkey cannabis cultivation, processing and retail solutions, including licensure support, facility design, systems implementation, facility ramp-up and the day-to-day operational management required in a large-scale, professionally managed cannabis facility. MJardin is headquartered in Denver, Colorado with an additional office in Toronto, Ontario. For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the merits of the listing of the common shares MJardin or the proposed acquisition of GrowForce, and has neither approved nor disapproved the contents of this news release. The proposed acquisition is subject to a number of conditions, including receipt of applicable shareholder, regulatory and stock exchange approval and cannot close until the required approvals are obtained. There can be no assurance that the proposed acquisition will be completed as proposed or at all.
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.
This news release contains forward-looking information based on current expectations. Statements about, among other things, the closing of the proposed acquisition, expected terms and conditions of the proposed acquisition, future developments and the business and operations of MJardin and GrowForce, the completion, terms and size of the proposed acquisition 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: the parties’ ability to satisfy various closing conditions of the proposed acquisition, including receipt of all regulatory and shareholder approvals and the ability to integrate both companies and pursue growth and other strategic objectives. 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 or that, if the proposed acquisition does occur, it will be completed on the terms described above 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.