Business
MJardin Group Completes Non-Brokered Private Placement and Share Issuance to Robes Inc.
MJardin Group Completes Non-Brokered Private Placement and Share Issuance to Robes Inc..
About this update from Mjardin Group Inc
[{"type":"text","content":"\n TORONTO and DENVER, Jan. 15, 2020 (GLOBE NEWSWIRE) -- MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, announced today the closing of a non-brokered private placement and share issuance of 4,716,982 common shares at a price of C$0.212 for an aggregate subscription amount of C$1,000,000. Robes Inc., a luxury cannabis brand house focused on bringing exotic and rare strains to Canadian consumers, subscribed for the full amount of the private placement. MJardin has previously announced that it will dedicate a portion of its cultivation canopy space to grow Robes’ exclusive strains as part of their November 2019 contract. MJardin will also use a portion of the proceeds to construct a packaging line at its “WILL” facility in Ontario in order to satisfy anticipated demand for packaged Cannabis products for retail distribution. “We are proud that Robes has entrusted MJardin’s cultivation expertise to grow its unique and rare strains, including the coveted Afghani Bullrider strain,” said Pat Witcher, CEO of MJardin. “In addition, the implementation of a packaging line will allow MJardin to enjoy the economic benefits of selling directly into the retail marketplace. We look forward to taking the next step and are excited to supply BLLRDR as well as other MJardin proprietary strains to the Canadian market.” Robes Inc. owns brands such as BLLRDR and Robes Cannabis, and has an extensive catalogue of market-leading cannabis genetics including the Afghani Bullrider. BLLRDR is a cannabis brand collaboration with Noah “40” Shebib, and legendary grower and breeder of the Afghani Bullrider, Jeff Tek. About MJardin Group MJardin is a cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. MJardin is based in Denver, Colorado and Toronto, Canada. For more information, please visit www.mjardin.com. The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release. This news release does not constitute an o...