TORONTO, Sept. 17, 2021 (GLOBE NEWSWIRE) -- Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMVA; STUTTGART: NMVA), ("Captor" or the "Company"), is pleased to announce that it has entered into a binding agreement to purchase a majority interest in a licensed dispensary location in Pacifica, California. The Pacifica dispensary location, which is approved for adult-use and medicinal cannabis use as well as delivery, is slated to become the tenth dispensary in Captor Capital’s California network, joining locations in Antioch, Atwater, El Sobrante, Salinas, Castroville, Santa Cruz, Lompoc, Goleta and Palm Springs. This location will be operated by Captor Retail Group (“CRG”) and the dispensary will become part of the One Plant brand.
“We are excited about what the Pacifica location provides to our organization, as it fits perfectly within Captor’s existing expansion plan,” said Captor Capital CEO, John Zorbas. “While we remain committed to maintaining growth by increasing revenues across our network, we are always on the lookout for acquisition opportunities and are confident this will prove to be a value acquisition that will increase top line revenue and net profit.”
Located in San Mateo County on the Pacific Coast just 15 miles south of San Francisco, with a population of approximately 800,000, the Pacifica dispensary will extend the geographic reach of the One Plant brand. Strategically positioned, the dispensary will provide Captor Retail Group with delivery reach into San Francisco, Half Moon Bay, as well as throughout San Mateo and Palo Alto. Construction is scheduled to begin in the coming week and Captor expects this location to be operational prior to the end of 2021.
“We look forward to adding this dispensary to our retail portfolio as we continue in our quest to become one of the largest cannabis retailers in the State of California,” said Captor Retail Group CEO, Adam Wilks. “We believe consumers in the Pacifica community will embrace One Plant’s standards for quality and we are confident our brand selection will provide a broader variety than what is currently available in the Pacifica market.”
Over the past year, Captor Capital has grown from 2 to 10 dispensaries, of which 8 dispensaries are operational. The most recent addition to the network was One Plant Goleta in May 2021. The Pacifica location joins Palm Springs as the second dispensary under construction, with both scheduled to be open before the end of 2021.
About Captor Capital Corp.
Captor Capital Corp. is a Canadian vertically integrated cannabis company listed on the Canadian Securities Exchange, and the Frankfurt and Stuttgart stock exchanges. Captor provides recreational cannabis products to consumers, as well as other high demand cannabis-based goods. The Company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale.
Captor Capital Corp.
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This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Source: Captor Capital Corp.
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