- Posted by: Mentor Capital
- Category: Press, Uncategorized
SAN DIEGO, Mentor Capital, Inc. (OTCQB: MNTR) announces it has closed and paid in cash and stock a $1.0 million multi-faceted financing program for G FarmaLabs Limited. The initial Mentor financing is structured to provide funding for real estate and working capital. G Farma has also been provided Mentor public shares to participate in any potential upside that may or may not occur on account of the G Farma relationship with Mentor. Under contract, Mentor is providing multi-year consulting support with regard to accounting structure, audits and sophisticated financings. Mentor has the right to participate in any future debt or equity raise, and receives a small percentage of G Farma if the cannabis company goes public, except if that action is supported by Mentor Capital and equity participation is thus otherwise more fully provided. At the close, the respective principals, operating and professional representatives of the parties met and discussed the next phase of their long-term relationship.
Mentor CEO, Chet Billingsley opines that the cannabis and medical marijuana sector has begun to enter a consolidating phase. Larger, well financed leading cannabis brands, like G Farma, will naturally evolve to dominate the space. Mentor’s ideal portfolio partner is a larger, successful cannabis company that needs expansion capital on its path to be one of those dominant players, and is seriously interested in then economically moving into the public market while maintaining maximum founder’s equity. The passionate and knowledgeable team at G Farma is a perfect match for Mentor’s program of financial support and public market access. “We have great respect for the intelligence, hard work, business systems and approach to risk management that the G Farma team has put together. They well deserve the success that is headed their way, and Mentor Capital, Inc. will be doing everything we can to support their growth and ambitions. It will be a pleasure,” says CEO Billingsley.
Ata Gonzalez, the G Farma founder, adds, “Finding the right cash infusion to help your cannabis company remain an industry leader is difficult. Mentor Capital and its CEO, Chet Billingsley have been friends of our brand since 2013. They provide an amazing financial vehicle for G FarmaLabs and have already offered tremendous expert advice on complex business issues. The common denominator with Chet is to always be “fair” to everyone, as if you were entering into a contract with your brother.”
About Mentor Capital: The Company seeks to come alongside and assist private medical marijuana and cannabis companies and their founders in meeting their liquidity and financial objectives, to add protection for investors and to help incubate private cannabis companies. Additional important information for investors is presented at: www.MentorCapital.com .
This press release is neither an offer to sell, nor a solicitation of offers to purchase, securities.
Forward Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales, problems securing the necessary financing to continue operations, problems involving continued illegality of cannabis products, potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting knowledgeable personnel, in collecting judgments and in protecting intellectual property. Further information concerning these and other risks is included in the Company’s Form 10-K and 10-Q filings which, along with other very important information about the Company, can be found here:
The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events or circumstances occurring after the date of this press release.
For further information contact:
Chet Billingsley, CEO
Mentor Capital, Inc.
(760) 788 – 4700