Business
Institutional Investment Fund to Invest 5M in Demand Brands (DMAN)
Institutional Investment Fund to Invest 5M in Demand Brands (DMAN).
About this update from Demand Brands, Inc.
[{"type":"text","content":"SACRAMENTO, CA / ACCESSWIRE / October 13, 2021 / Demand Brands, Inc. (OTC PINK:DMAN), ("Company" or "DMAN"), which markets products via its Lucky Chief brand http://www.luckychief.com announced today that it has entered into a Common Stock Purchase Agreement (the "CSPA") with an Institutional Investment Fund ("Fund ") for a $5 million equity investment into the Company.The CSPA with the Fund, which is one of the largest student and alumni venture funds in the US, requires DMAN to audit its Financial Statements, become a fully reporting SEC company and up list. The Company has also granted the Fund an opportunity to purchase an additional $5 million of the Company stock via warrant agreements. The Company is in the process of engaging an auditor and expects to make an application to up list prior to the end of the year. The Fund is primarily focused on investments that will have a lasting positive impact on the Millennial generation and maintains a diverse portfolio of investments in both private and public companies.Alan Ochoa, Senior Analyst of the Fund, commented, "After speaking with management, running due diligence on Mr. Dixon's business model, and visiting their corporate office in Sacramento, we feel confident that Demand Brands Inc. and Lucky Chief are merely at the ground level with vast potential for growth over the next couple of years. It's not often when you see a vertically integrated cannabis company with all the verticals including genetics ready to scale in two states. This is one of the most exciting investments for our Fund this year and we are happy to be one of the company's financial and strategic partners."Ian Dixon, Chairman & CEO of Demand Brands Inc. added, "Having a strong Institutional Investment Fund on board and a new, valuable source of capital is not only a validation of the Lucky Chief and DMAN vision, but will accelerate and drive growth and development of our vertically integrated cannabis business model and expand our genetic and retail footprint throughout California and Oklahoma. We look forward to showing that the Fund's confidence in us is well deserved."About the Institutional Investment FundThe Institutional Investment Fund focuses on investments that will have a lasting positive impact on the Millennial generation with a p...