Cannex Capital secures financing from leading institutional cannabis investment group
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Vancouver, BC, November 21, 2018 – Cannex Capital Holdings Inc. (“Cannex” or the “Company”) (CSE: CNNX / OTCQX: CNXXF) is pleased to announce that it has secured a US$32 million investment from Gotham Green Partners, LLC (“GGP”), a leading and influential investor in the global cannabis investment sector.
“We are pleased to have Gotham Green Partners as an investor and look forward to working closely with them as we identify and execute on new opportunities for growth and brand building,” said Leo Gontmakher, COO of Cannex. “Cannex is preparing to scale its business in additional key states and to leverage our operational expertise. We are thrilled to be working with an investor who shares our vision and values the importance of operations. GGP has a robust network of contacts and an excellent pipeline of opportunities and brings enormous value to Cannex,” continued Gontmakher. “We are better prepared than ever to aggressively ramp our business plan.”
“As an early cannabis mover in the Pacific Northwest, Cannex has successfully built a large, efficient and profitable business in Washington State,” said Jason Adler, Managing Member of GGP. “The Company’s core focus on deep operations knowhow including extraction, processing, distribution and consumer brands provides a compelling growth and investment opportunity. With this infusion of capital, we look forward to working with the management team to source additional strategic opportunities and to accelerate the Company’s growth.”
“The GGP team has demonstrated its ability to identify undervalued opportunities and then provide wide ranging support to help accelerate geographic and capacity expansion and create shareholder value,” said Anthony Dutton, CEO of Cannex. “We believe our sector expertise and operational experience at scale give us a unique and valuable perspective on efficient and optimal capital allocation,” continued Dutton, “and we look forward to working with GGP as we expand our operating platform and establish Cannex as a leading multi-state operator.”
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