MJardin Group Announces Equity Capital Raise to Accelerate Expanding Growth Opportunities

DENVER--(BUSINESS WIRE)--MJardin Group (“MJardin” or the “Company”), a leader in North American cannabis facility management, today announces that it has engaged Canaccord Genuity Corp., to act as sole bookrunner, together with KES 7 Capital Inc. as co-lead agent (collectively, the “Agents”), to sell, on a best efforts private placement basis, pursuant to applicable prospectus and registration exemptions, subscription receipts of MJardin Group (the "Subscription Receipts") to raise equity capital (the “Offering”) to accelerate the Company’s expanding growth opportunities.

MJardin Announces Launch Of GrowForce

MJardin Group, North America’s largest turnkey operator of legal cannabis facilities, is pleased to announce the creation of a new company called GrowForce Holdings Inc. (“GrowForce”). The mission of GrowForce is to become one of the premium licensed cannabis producers in Canada and other federally legal markets worldwide. GrowForce completed a private placement financing of its shares, which was offered to all of the securities holders of MJardin.  

Plugging The Cannabis Knowledge Gap

The legal cannabis industry is a unique prospect for those looking for a potentially lucrative investment opportunity. In 2017, sales in the US state of Colorado reached $1bn in just eight months, a 21 percent increase from the same period in the previous year. According to Statistics Canada, Canadians spent around CAD 5.7bn ($4.5bn) on both medical and non-medical cannabis in 2017, with numbers expected to swell when the latter is legalised in July this year.