Compass Cannabis raises $6.75 million for recreational cannabis growth, secures partnerships for international export of medical cannabis
Ryan Allway
January 17th, 2019
News
KELOWNA, British Columbia, Jan. 16, 2019 (GLOBE NEWSWIRE) — 10330698 Canada ltd d/b/a Compass Cannabis Clinic (“Compass”) and majority owner of the joint venture entities Starbuds Canada (“Starbuds”) and Compass Australia, is pleased to announce the closing of both a non-brokered private placement and a convertible debenture offering for total proceeds of $6,750,000.00 CAD. Equity valuations in the non-brokered private placement were provided at $0.60 per share with additional half-warrants at $0.75 per share.
The funds received through these offerings are intended for further expansion of the Starbuds Canada retail brand across Canada. “Today marks a sizable step forward for the Starbuds retail brand in Canada,” says Dave Martyn, President of Compass. “Through our existing portfolio of leases and retail cannabis development permits, we are positioned to aggressively roll out corporate locations across Canada upon the reopening and expansion of licensing in various provinces in 2019. We expect the Starbuds brand to be among the fastest growing cannabis brands in North America.”
Further to this, Compass Australia intends to open its first clinic in Sydney Australia in early 2019. Compass Australia intends to begin exporting cannabis oil products for its Australian patients by mid 2019, via partnerships with Canadian Licensed Producer and export entities.
About Compass Cannabis
Compass Cannabis Clinics is a medical cannabis consultation company focused on providing educational and consultative services for Canadians looking to obtain cannabis from a licensed producer under the ACMPR. Through a joint partnership with Starbuds US, Compass Cannabis Clinics is a licensee of the Starbuds brand name in Canada. With a rapidly growing patient base and a rapid expansion place for recreational cannabis, Compass aims to be one of the largest cannabis organizations in Canada. In 2019, Compass will expand to Australia to become one of the first international cannabis clinics. Learn more about Compass at https://compasscannabis.ca/.
About Starbuds Canada:
Starbuds Canada, part of North America’s fastest growing cannabis network, is changing the way Canadians think about cannabis by providing a high-touch, educational guest experience. Through a joint venture with Compass Cannabis Clinic, Starbuds aims to operate cannabis retail locations across British Columbia, Alberta, Ontario, and Saskatchewan. Founded in 2013, Starbuds was the first retail outlet to receive licensing when Colorado legalized recreational cannabis. Starbuds operates 13 locations across Colorado and Maryland, with additional licensing to operate in Louisiana, and Massachusetts. Through this partnership, Starbuds aims to become the largest recreational cannabis provider in North America.
For further information contact
Daniel Winer
Marketing Director
daniel.winer@compasscannabis.ca
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.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Tom Zuber is Zuber Lawler & Del Duca’s Managing Partner. He has a degree with highest honors in biomedical engineering and has advised some of the most iconic companies in the world on their patent and trademark portfolios. He is at the cutting edge of cannabis patent and trademark law. He holds degrees from Harvard University and Columbia Law […]
Tim has over 22 years of investment experience as a portfolio manager, asset allocator, and capital markets professional across multiple asset classes, geographies, and platforms. Tim has built and operated two hedge funds, a broker dealer, and raised over $1Bn in capital for his combined businesses. Tim remains a recognized voice within the investment community […]
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry.
MediPharm is a pioneer in the cannabis industry as it is the first company in Canada to successfully become a Licensed Producer for cannabis oil production without first receiving a cannabis cultivation license.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
