- Posted by: Mentor Capital
- Category: Press, Uncategorized
SAN DIEGO, Mentor Capital, Inc. (OTC Markets: MNTR) status was upgraded today by OTC Markets Group to the highest of the three primary OTC Pink Marketplace segments: Current Information. All updated Mentor Capital financials, filings, disclosures and legal opinions through February 28, 2014, are publicly available on the OTC Disclosure & News Service pursuant to its guidelines. This is a first part in the active execution of the company’s stated goal to step up to current status, complete audits, voluntarily file a Form 10, move up quickly to the OTCQB and then onto NASDAQ. At each stage along the way, companies historically have experienced greater institutional participation, liquidity, coverage and visibility for shareholders.
Briefly highlighting certain aspects of these disclosures and other recent events the company notes that:
- Mentor Capital maintains a $1 Million cash reserve.
- The company paid $1.3 Million to Bhang Chocolate owners in March.
- The Bhang 60% acquisition contract is closed and is not contingent.
- The $7.7M still due to Bhang Owners and $30M two to three year infusion into Bhang is expected to be paid in cash, although it could be paid in stock.
- An international private equity group announced a $35 Million loan closing to Mentor Capital, as is their normal practice. Mentor will announce after receipt of funds.
- No reverse split is contemplated.
- All CEO discounted warrants were exercised and those shares put in escrow to guarantee a loan for the company.
- No shares or warrants have been sold by the CEO in 10 years.
- Mentor has approximately 5 Million shares in the float and available for trading, 5 Million shares in paper form in files and safety deposit boxes, 5 Million shares in escrow, and 15 Million warrants at a $7 per share strike price.
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
Forward Looking Statements, Safe Harbor and Risk Descriptions are Incorporated by Reference from the MNTR Company Web Site above.
For further information contact:
Chet Billingsley, CEO
Mentor Capital, Inc.
(760) 788 – 4700