Agreement reflects CGOC’s focus on long-term growth
Toronto, Ontario – May 10, 2018 – Cannabis Growth Opportunity Corporation (CSE: CGOC), today announced it has invested in Herbs Holdings Ltd., a large medical cannabis premium grower and retailer in Jamaica. The agreement is CGOC’s first in the Caribbean and reflects the company’s focus on driving long-term total return through investments in privately and publicly held companies that are aligned to its investment approach.
Herbs is uniquely positioned in the Caribbean. The company holds the only large-scale cultivation license in Jamaica with access to 3,700 acres of growing lands for over 100 years, a robust domestic retail plan as well as an experienced operating team poised to drive exports. It will produce licensed, premium, sun-grown organic cannabis at industry high margins leading to a favourable cost structure for cultivation and making it a good match for CGOC.
“Herbs represents a tremendous opportunity for our shareholders to participate in the emerging legal medical cannabis sector in Jamaica. We admire the company’s commitment to developing medicinal and nutraceutical products as well as education and research that will positively change lives and generate both domestic and international revenue opportunities,” says Jamie Blundell, President and COO of CGOC. “The team at Herbs has the experience, domestic support, and a tier 3 license in a favorable economic zone. Our investment reflects our unique approach to actively managing investments in high growth, multifaceted global private and public cannabis companies which exhibit a strong potential for profitability.”
CGOC is acquiring 250,000 class A common shares of Herbs for $250,000 USD. The funds will be used for an infrastructure build which will, in turn, support an increase in production.
“We’re very pleased to be a part of CGOC’s growing portfolio of cannabis investments and their first in the Caribbean. They have a similar outlook to us and are equally committed to the long-term health of the industry,” says Anthony Bailey, President and CEO of Herbs Holdings Ltd. “We are on a solid growth trajectory with our product, retail and export channel mix. We look forward to working with CGOC and leveraging their experience and access as we deliver on our business strategy.”
This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933.
About Cannabis Growth Opportunity Corporation
CGOC is a unique investment corporation incorporated under the laws of Canada. CGOC’s investment objectives are to provide holders of common shares long-term total return through capital appreciation by investing in an actively managed portfolio of securities of public and private companies operating in, or that derive a portion of their revenue or earnings from, products or services related to the cannabis industry. To access the company’s April webinar, please visit cgocorp.com/investors and take the time to register for the news feed.
For further information: Jamie Blundell, President and Chief Operating Officer, Cannabis Growth Opportunity Corporation, 647-946-2205, firstname.lastname@example.org