Captor’s two MedMen-branded locations among top 10 percent in California Dispensary Sales
TORONTO, Sept. 04, 2018 (GLOBE NEWSWIRE) — Captor Capital Corp. (“Captor” or the “Company”) (CSE:CPTR) (FRANKFURT:NMV) (USOTC:NWURF) announced today that wholly owned subsidiary I-5 Holdings Ltd. (“I-5 Holdings”) had gross revenues of US$6.98 million (CDN$9.1million) from its two southern California dispensaries in the three-month period ending June 30, 2018. For the two quarters of this year consolidated total revenue numbers equated to US$14.55 million (CDN$18.9million).
“We are pleased to see such strong revenue numbers from our dispensaries in the second quarter of recreational cannabis sales in California,” said John MacPhail, Founder and CEO of I-5 Holdings. Based on the recently released California State Cannabis tax revenues, these figures easily place our dispensaries in the top ten percent state wide.
“We are now seeing our strategy of focusing on the lucrative California cannabis market succeed. Both our footprint and revenue figures will continue to expand over the coming months,” said Captor Capital CEO, John Zorbas. “While the strong performance is impressive we believe it is only the start of what we can achieve. We expect to make further announcements imminently.”
About Captor Capital
Captor Capital Corp. is a Canadian firm focused on the cannabis sector listed on the Canadian Securities Exchange, the OTC, and the Frankfurt Stock Exchange. A vertically integrated cannabis company, Captor provides recreational and medical marijuana based products to consumers via its leading brands and dispensary locations. Listed on the Canadian Securities Exchange, the OTCUSA, and the Frankfurt Stock Exchange, Captor owns and operates advanced growing facilities which produce consistent high quality contaminant free marijuana for its customers, as well as other high demand cannabis based goods for consumption. The company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale. Captor currently has a number of revenue generating cannabis investments including two wholly owned branded MedMen dispensaries – the world famous West Hollywood location and the showpiece Orange County dispensary in Santa Ana. Captor Capital is currently looking at additional revenue generating investments in the cannabis space and will be updating the market in due course.
Gavin Davidson, Communications
Captor Capital Corp.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains or refers to forward-looking information, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.