MJardin Group, a Denver and Toronto-based cannabis consultant, has raised $20 million in a private placement. According to the company, the capital infusion will be used to make acquisitions in the cannabis sector and for working capital. KES 7 Capital was the placement agent.
DENVER and TORONTO, Ontario, Dec. 27, 2017 /PRNewswire/ — MJardin Group (the “Company”) is pleased to announce the closing of its private placement financing of equity and convertible senior secured debentures in the aggregate principal amount of $20,000,000 USD (the “Financing”). KES 7 Capital Inc. acted as a placement agent.
The Company expects to use the proceeds of the Financing to make strategic acquisitions in the cannabis industry and for general working capital and corporate purposes. On December 12, 2017, the Company announced a strategic partnership with Bridging Finance Inc. to create the premier infrastructure fund for the consolidation of the cannabis sector. In conjunction with today’s announcement, MJardin is fully-financed for its near-term growth initiatives.
“We looked at many cannabis deals and companies, and MJardin is a clear leader in the space,” said Mark Christensen, President and CEO of KES 7 Capital Inc. “We are very excited to continue working with the MJardin team on their future growth initiatives and their Canadian strategy.”
“We saw this as not only a logical next step but an opportunity for a transformational partnership,” said James Lowe, Co-Founder, Director and Chief Cultivation Advisor at MJardin. “We brought in strategic long-term shareholders who will support the Company for both near and long-term growth initiatives. MJardin has now further solidified its position as a market leader.”
About MJardin Group
MJardin Group (MJardin) is a highly specialized professional operating company that develops partnerships with licensed operators. MJardin provides its partners turnkey cannabis cultivation and processing solutions including licensure support, facility design, systems implementation, facility ramp-up and the day-to-day operational management required in a large-scale, professionally managed cannabis facility. MJardin is headquartered in Denver, Colorado with an additional office in Toronto, Ontario. For more information, please visit MJardin.com.
About KES 7 Capital Inc.
KES 7 Capital Inc. is a “hybrid” merchant bank that targets bespoke investments for both its own capital and that of its funding partners, that include institutions, family offices and high-net-worth individuals. Specialized in creating and/or finding high-quality, high-growth, public or private companies with areas of expertise including energy, healthcare, technology, industrials and real estate. For more information, please visit kes7capital.com.