Mentor Capital, an investor in cannabis companies, has acquired a 60 percent stake in Bhang Chocolate Company for $39 million. Bhang Chocolate Company is a maker of chocolate cannabis products.
SAN DIEGO–(BUSINESS WIRE)–Mentor Capital, Inc. (OTC Markets: MNTR) announced today that it has been selected by Bhang Chocolate Company, Inc. to provide $39 Million in equity funding for Bhang’s national and international expansion and to help further extend their market-leading brand across the marijuana related sector. Mentor Capital CEO, Chet Billingsley, affirms, “By a wide margin, five time cannabis cup winner, Bhang Chocolate is recognized as the world’s singular leading cannabis brand. We feel privileged to be working with the Bhang management team lead by founder Scott Van Rixel. In the explosively growing and sometimes chaotic environment accompanying marijuana legalization, they provide a bulwark of business professionalism and integrity in the delivery of Bhang’s gourmet medicinal chocolates and growing infused edible selections.”
The Bhang Chocolate partnering in the infused edibles sector is directly in line with Mentor Capital’s stated Leading Cannabis Brands strategy. Mentor identifies the private company leader in major vertical sectors of the broader medical marijuana and legalized cannabis market. Mentor Capital, a public marijuana stock, then provides large amounts of early public market financing to those leaders. By acquisition and well funded organic growth the selected private cannabis company CEOs are well equipped to expand, roll-up and dominate their respective new marijuana markets.
Bhang Chocolate CEO, Scott Van Rixel, gives his view as a senior business leader and long-time observer of the cannabis world, “The marijuana community has had mixed results thus far with the public companies that have come to deal with us. What is needed is funding through the public market that is fair, to help our good, solid companies grow. I believe we have found that exact mix for Bhang in working with Chet Billingsley and Mentor Capital. Going forward, I’ll be joining the Mentor Capital board. We insisted, and will be there as a gateway to ensure the best real cannabis sector companies get a fair and knowledgeable review that can lead to the major financing they deserve.”
About Mentor Capital: By acquisition or stock purchase, Mentor Capital, Inc. seeks to invest in leading cannabis companies. Additional important information for investors and founders seeking expansion funding is presented at: www.MentorCapital.com