Subjects: FINANCING AGREEMENTS, BUSINESS CONTRACTS, SHAREHOLDER RIGHTS PLANS, MISCELLANEOUS, MISCELLANEOUS
Sensi Brands Announces Strategic Investment by Chippewas of the Thames Development Corporation
Aurora, ON, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Sensi Brands Inc. ("Sensi Brands" or "SBI"), a licensed cannabis cultivation and consumer packaged goods company, announced today a strategic investment made by Chippewas of the Thames Development Corporation ("CTDC"), a for-profit corporation overseeing the management of business and investment opportunities of Chippewas of the Thames First Nation. The move comes after a diligent 18-month review process by CTDC, during which they analyzed five different entrance points into the regulated cannabis industry, before making the decision to partner with SBI.
The significant raise, a $2MM investment giving CTDC a 21% equity interest in SBI and a seat on the board, demonstrates their confidence in the industry, the leadership team and SBI's unique business model. With its highly experienced management team, newly optimized cultivation facility and first consumer brands in place, the funds raised will be used to accelerate the growth of SBI's four lines of business, focusing on processing, cultivation and launching the retail arm of the company. SBI's unique business model remains focused on leveraging automation and execution to differentiate itself through best-in-class processing capabilities.
"Sensi Brands is thrilled to announce this meaningful partnership with the First Nation community so close to our home base in St. Thomas," said Tony Giorgi, CEO of Sensi Brands. "We are excited for the opportunities this will bring and are looking forward to creating a real impact, both in the industry and for the Chippewas of the Thames First Nation community."
Working closely with CTDC, on behalf of Chippewas of the Thames First Nation, SBI will be rolling out an employment and training program for the cultivation site and retail store. The employment opportunities brought about by the program will play an important role in further developing cannabis industry knowledge and expertise among Chippewas of the Thames First Nation management trainee program participants.
"With foresight and support from Chief & Council and the Administration Office, our Board of Directors immediately recognized the significant potential and long-term economic benefit of this investment," said Rick Peters, General Manager of CTDC. "As the cannabis industry continues to evolve, we see our relationship with Sensi Brands as a solid foundation for further potential growth and community prosperity."
About Sensi Brands Inc
Sensi Brands Inc. is a Canadian licensed cannabis cultivation and consumer packaged goods company producing and distributing a broad range of quality cannabis products and services. Led by one of the most experienced and successful management teams in the cannabis industry, SBI operates four lines of business, servicing the domestic and global cannabis industry including: wholesale product distribution, automated processing and co-packaging services, a consumer brands portfolio, and a full-service medical cannabis clinic.
CAUTIONARY STATEMENT: Certain statements contained in this Press Release constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of the "safe harbour" provisions of applicable securities legislation. Such statements reflect the company's current views with respect to future events and are subject to inherent risks, uncertainties and numerous assumptions. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements or interpret or regard forward-looking statements as guarantees of future outcomes. The forward-looking statements contained in this Press Release speak only as of the date of this Press Release. Except as expressly required by applicable securities laws, the company does not undertake any obligation to publicly update or revise any forward-looking statements. The forward-looking statements contained in this Press Release are expressly qualified by this cautionary statement.
Attachments
These press releases may also interest you
|
News published on and distributed by:
