DENVER--(BUSINESS WIRE)--MJardin Group, Inc. (“MJardin” or the “Company”) (CSE:MJAR), a leader in cannabis management, is pleased to announce the closing on November 26, 2018 of a $6 million minority investment in OG DNA Genetics Inc. (“DNA Genetics”), a globally recognized leader in cannabis with operations in California, Canada and Europe. MJardin’s investment was part of a $35 million financing completed by DNA Genetics last week.
For over 15 years, genetics bred by DNA Genetics have won nearly two hundred awards around the world, making DNA Genetics a global standard in breeding and growing best-in-class cannabis strains. DNA Genetics intends on using the proceeds from its financing to manufacture, distribute, brand and sell a wide variety of high quality adult cannabis products under the DNA label, including indoor-grown dry flower, pre-rolled joints, vaporizer cartridges, and a full line of concentrates.
MJardin’s investment provides the Company with access to DNA Genetics’ vast library of award-winning cannabis strains and genetics for use throughout MJardin’s multi-country network of facilities. The investment also provides MJardin with exposure to the brick and mortar cannabis retail market in California.
“DNA Genetics is a highly regarded cannabis brand globally with a presence in three of the largest cannabis markets in the world,” said Rishi Gautam, Chairman & Chief Executive Officer of MJardin Group. “We are excited to partner with DNA Genetics, which is a true innovator in genetics and breeding, as we grow our U.S. and international footprint.”
“MJardin is a highly experienced cannabis management company and a leading operator of cannabis assets throughout the supply chain,” said Charles Phillips, Chief Executive Officer of DNA Genetics. “We are very pleased to partner with MJardin to further build out our California operations and to extend our reach into other U.S. and international markets through their large and diverse network of cannabis facilities.”
About MJardin Group
MJardin is a global 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. As a well-capitalized organization, MJardin continues to pursue strategic expansion and M&A opportunities across global legal cannabis markets. MJardin is based in Denver Colorado, with offices in Toronto, Canada and Barcelona, Spain. For more information, please visit www.mjardin.com.
About DNA Genetics
DNA was rooted in Los Angeles and founded in Amsterdam in 2004 by Don Morris and Aaron Yarkoni. Over the last decade, the Company has built and curated a seasoned genetic library and developed proven standard operating procedures for genetic selection, breeding, and cultivation. In a world that is increasingly opening up to commercial cannabis activity, DNA is positioned to become the first, truly geographically-diversified company with multiple partnerships with top-licensed producers and brands that have built their companies and global presence utilizing the “Powered by DNA” model. For more information, please visit www.dnagenetics.com.
The CSE has not in any way passed upon the merits of the matters contained in this press 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.
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 and DNA Genetics, the growth of or 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 investment 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.