DENVER--(BUSINESS WIRE)--MJardin Group, Inc. (“MJardin” or the “Company”) (CSE:MJAR), a leader in cannabis management, announced today that it has completed a definitive agreement for its previously announced joint venture with Rama First Nation to bring large-scale cannabis cultivation, extraction, and retail to Rama, Ontario and the surrounding region. The partnership’s first major project will be the construction of a large-scale cannabis production facility which will create at least 100 permanent jobs for Rama and area residents.
The Chippewas of Rama First Nation (Rama) has been known as ‘the gathering place’, where travellers journeyed for many reasons. Today, it is home to Casino Rama, a tourism attraction that brings thousands of visitors to the area daily for gaming, shows, conventions, shopping and fine dining. Guided by a long-term community visioning which has built a sustainable economic foundation, this proud, progressive First Nation community provides members and area residents with employment close to home and services for family living and recreation.
“MJardin’s strong financial backing from Bridging Finance, an Indigenous-led company, allows us to quickly scale-up and bring safe cannabis production, economic development and job creation to our community,” said Chief Rodney Noganosh for Rama First Nation. “We are pleased to finalize our joint venture agreement with MJardin and look forward to establishing and growing the local cannabis industry in Rama and surrounding region.”
“MJardin has pioneered a unique business model to drive our growth and expansion across Canada through our partnerships with Indigenous communities,” said Rishi Gautam, Chairman and Chief Executive Officer of MJardin. “Our joint venture with Rama allows us to co-own and operate cannabis assets and capture margin throughout the entire value chain across cultivation, extraction and retail. This partnership will also further diversify Rama’s local economy and bring new economic development and employment opportunities to the Indigenous community.”
David Sharpe, CEO of Bridging Finance, an Indigenous led company, has been a key advisor, bringing financial backing and supporting MJardin’s execution of its Indigenous joint ventures. Through the strategic partnership with Bridging Finance and the establishment of the Bridging Infrastructure Fund, MJardin has unique access to growth capital for continued infrastructure investments and consolidation of strong operational cannabis assets.
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 RAMA First Nation
Rama First Nation is home to Casino Rama and many flourishing community enterprises including two Tim Horton's franchises, a Shell Station, the Gathering Place stores, Black River Wilderness Park, the Ojibway Bay Marina and property leasing. Rama's commitment to community and economic development growth remain focal points for the future. With long standing local and regional relationships, the Chippewas of Rama First Nation is one of the country’s leading First Nation communities. For more information, please visit www.ramafirstnation.ca.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
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, the Joint Venture with Rama First Nation discussed in this press release, 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.