Mentor Capital has acquired a 51 percent stake in MicroCannaBiz. No financial terms were disclosed. MicroCannaBiz is a provider of media products and marijuana investment publications. It was recently launched by Financial Research Solutions to address the legal cannabis market.
SAN DIEGO–(BUSINESS WIRE)–Mentor Capital, Inc. (OTC Markets: MNTR) announced today that it has acquired a 51% equity interest in MicroCannaBiz, LLC, which was recently formed to address the legal cannabis market by Financial Research Solutions, Inc., a media, microcap investment research and educational training company.
According to David W. Dube, Chairman of the new venture, “In addition to media products and marijuana investment publications, MicroCannaBiz, LLC will be issuing cannabis industry financial research studies, publishing an online business magazine, and releasing its searchable national directory of all private and public cannabis and marijuana – related companies. Internally, we target to deliver the 1st Annual MicroCannaBiz Publicly-Traded Conference and Expo, perhaps co-located with another money related show, as early as Fall, 2014.”
“Working with an experienced media and training team provides excellent financial leverage,” observes Mentor Capital CEO, Chet Billingsley. “Converting existing educational seminars, training programs, publications and database marketing tools, and then applying them to the legalized cannabis market is less expensive and more rapid than developing them from a cold start.” The parties entered into an initial $200,000 co-operative funding agreement to allow for new medical marijuana and cannabis-related products and services to be immediately developed and available for sale from the new St. Petersburg, Florida enterprise.
“We look forward to supplying additional expansion, acquisition and investment capital into this important area of the rapidly growing legalized marijuana market,” concludes Mentor Capital, Inc. CEO, Billingsley. “We believe our ability to commit more than $100 Million to key cannabis business market leaders will allow them to more easily finance their strategic expansion and consolidation in their particular vertical sector as marijuana legalization moves from just two toward all fifty states.”
About Mentor Capital: By acquisition or stock purchase, Mentor Capital, Inc. seeks to invest in leading cannabis companies. Additional important information is presented at: www.MentorCapital.com