The Transaction is an arm’s length transaction that is not expected to constitute a “fundamental change” or a “change of business” pursuant to the policies of the CSE and is subject to receipt of all necessary regulatory and third-party approvals and the satisfaction of other customary closing conditions as set out in the Agreement. The Purchase Price will be fully satisfied by way of the issuance of an aggregate of 27,018,384 common shares in the capital of Captor (“ Captor Shares”) at a deemed issue price of CAD$1.10 per Captor Share. “We look forward to strategically expanding One Plant’s operations in attractive markets in California and beyond while introducing upscale cannabis experiences to new consumer audiences.”
“This Transaction demonstrates Captor Capital’s consistent ability to scale in one of the most competitive cannabis markets in the U.S.,” said Captor Capital CEO, John Zorbas.
In the coming months, the Company will provide a detailed corporate update, including a strategic expansion plan and operations plan. If the Transaction is completed, Captor Retail Group will become a wholly-owned subsidiary of the Company.įollowing the completion of the Transaction, the Company will finalize and execute its strategic goals for 2021 and beyond, including vertical integration in the California marketplace, as well as pursuing responsible expansion in premium markets outside of California. Palm Springs is a strategically important location in the robust California cannabis marketplace, and One Plant’s latest dispensary is expected to serve the approximately 45,000 residents¹ and over 14.1 million visitors² of the Palm Springs community.Ĭaptor Retail Group is the joint venture company established by Captor Capital and Three Habitat to own and operate the One Plant chain of retail dispensaries in the State of California. Palm Canyon Drive, Palm Springs, California and will be open during the hours of 8a.m. One Plant Palm Springs is located at 2739 N. (CSE: CPTR FRANKFURT: NMVA STUTTGART: NMVA) ("Captor Capital" or the "Company") is pleased to announce that, pending receipt of all required governmental approvals, Captor Retail Group Inc., which owns and operates the One Plant chain of retail dispensaries in the State of California, will open its ninth retail dispensary in the growing market of Palm Springs, California on or before December 22, 2021. 14, 2021 (GLOBE NEWSWIRE) - Captor Capital Corp.
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Upon closing, Captor Capital will have full ownership of the One Plant dispensary chain and execute plans to expand Captor’s retail footprint and operations in California and other key U.S. Captor Capital has also entered into a Definitive Agreement to acquire the remaining 49% equity interest in Captor Retail Group Inc., which owns and operates the One Plant retail dispensaries in California
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