Tidal Royalty Leads Lighthouse Strategies Private Placement


Ryan Allway

November 6th, 2018

News


Tidal Royalty Corp. (CSE: RLTY.U) (‘Tidal Royalty’), a leading provider of royalty financing to licensed U.S. cannabis operators, is pleased to announce that it has entered into a binding letter of intent with Lighthouse Strategies, LLC (‘Lighthouse’) to make a strategic subscription, by way of private placement, for US $5,000,000 of Lighthouse’s Series A membership units (the ‘Subscription’).

Lighthouse is a finance, research & technology, and portfolio management company. It operates 11 companies and 150,000 ft2 serving both traditional and regulated markets, including vertically-integrated cannabis assets licensed in California and Nevada. Lighthouse is renowned for developing the world’s first non-alcoholic cannabis-infused craft beer and liquor brand. Cannabiniers, a Lighthouse company, debuted Two Roots Brewing Co. in Las Vegas, Nevada earlier this year. Lighthouse’s brands include:

Cannabiniers: a ‘Beverage & Technology’ company servicing the regulated cannabis markets, offering equipment, financial, distribution and marketing, and brand management services.

Two Roots Brewing Co.: a microdosed non-alcoholic cannabis-infused craft beer, developed to emulate the rapid onset of alcohol, as well as its rapid dissipation from the body.

Just Society Coffee & Tea Co.: a combination of responsibly-sourced whole tea leaves and single origin coffee and high-quality cannabis flower to create exhilarating blends that delight the senses. These responsibly-formulated microdosed coffees and teas utilize Lighthouse’s rapid onset and dissipation technology.

Brewbudz: the world’s first 100% compostable and patented line of cannabis-infused single-serve coffee pods that are compatible with all K-Cup® and K-Cup® 2.0 style brewers.

Creative Waters Beverage Company: a line of non-alcoholic adult beverages crafted to emulate the rapid onset and dissipation of alcohol, and provide an alcohol-like bite in the finish.
Concurrently with the Subscription, the parties have entered into a financing arrangement with respect to certain Lighthouse beverage lines. The parties will negotiate in good faith to draft and execute definitive agreements in respect of the transaction and will release additional particulars upon closing. The closing of the transaction is subject to, among other things, the satisfactory completion of due diligence, which is currently underway, the receipt of all corporate and regulatory approvals, and the closing of a financing transaction by Lighthouse.

The cannabis-infused beverage sector has experienced significant momentum this year. Fortune 500 alcohol company Constellation Brand purchased a controlling interest in Canadian licensed producer Canopy Growth Corporation. Molson Coors Canada entered into a joint venture with licensed producer Hexo Corp. to develop cannabis-infused beverages. In addition, Heineken-owned Lagunitas launched a THC-infused sparkling water in California.

‘Infused beverages are one of the most exciting verticals in the entire cannabis industry,’ stated Paul Rosen, Tidal Royalty’s CEO and Chairman. ‘Consumption of alcoholic beverages in social settings provides an analogue to how big this market can be. Lighthouse’s beverage portfolio is a market leader that we only see strengthening over time.’

Founded in 2016, Lighthouse has launched or acquired 11 operating businesses. The company employees 160 full and part-time employees and is led by a seasoned management team with executive experience from different industries, including financial services, pharma, manufacturing and advertising. Lighthouse’s beverages are currently distributed in Nevada and are scheduled to be released in California in November, with agreements to distribute in an additional 5 states.

‘We are extremely excited to work with Tidal Royalty, given their extensive industry experience and insight. They intimately understand the needs of cannabis entrepreneurs and have a very sophisticated perspective on the trends driving growth in the global regulated cannabis industry,’ said Michael Hayford, Lighthouse’s CEO. ‘With almost three years of research and development invested in our beverage product lines, we have been working tirelessly to educate both retailers and the capital markets as to the future of cannabis consumption. The Tidal Royalty team ‘got it’ and – most importantly – they got it quickly. We see this as a long-term strategic relationship wherein Tidal Royalty’s North American experience across the cannabis industry will bring unique insights north and south of the border.’

This transaction continues to grow Tidal Royalty’s portfolio of licensed cannabis operators. Tidal Royalty previously announced an agreement to finance Diem’s expansion into Massachusetts, and a binding letter of intent to purchase equity in, and assume a royalty agreement with, AltMed (a vertically-integrated license holder with operations in Arizona and Florida). Tidal Royalty is currently in the process of evaluating multiple additional opportunities across the U.S., including in California, New York, Illinois, Ohio, Pennsylvania, Texas and Michigan. Tidal Royalty intends to provide further information on those opportunities when the respective parties reach an agreement and execute letters of intent.

About Tidal Royalty

Tidal Royalty provides royalty financing to the U.S. regulated cannabis industry. Led by an executive team with extensive industry experience in Canada and the U.S., Tidal Royalty provides operators with the funding they need to grow their business. Operators benefit from non-dilutive capital and investors get top-line access to a diversified portfolio of companies that will form the future of this transformative industry.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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