SEATTLE, WA, Aug. 20, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Captor Capital Corp. (CSE:CPTR) (FFT: NMV) (OTC:NWURF). Captor is a vertically-integrated cannabis company that owns and operates advanced growing facilities that produce high-quality marijuana. Captor then distributes the product throughout its wholly-owned dispensary network, including leading dispensaries in California. The company also plans to rapidly expand this footprint with one new acquisition and another planned acquisition in the state.

The U.S. cannabis industry is projected to exceed $50 billion in size by 2026, according to Cowen & Co., driven by the legalization of recreational cannabis across a growing number of states. While Colorado and Washington were early pioneers, California is poised to become the single largest market in the U.S. and one of the largest in the world. As a result, investors may want to take a closer look at companies focused on the state.

Growing Network of Dispensaries in California

Captor Capital owns two MedMen-branded dispensaries in West Hollywood and Santa Ana, California through its I-5 Holdings subsidiary. The high-end dispensaries are operated and managed by MedMen Enterprises Inc. (CSE:MMEN) under separate management contracts, possess licenses to sell recreational cannabis into the state's market, and already generated gross revenue of US$7.57 million during the first quarter of this year.

"We are now seeing our first investment target in the California cannabis industry produce some very impressive numbers," said Captor Capital CEO John Zorbas. "Our intention is to continue with our strategic focus of making investments in high-end cannabis retail stores and cultivation facilities in California as demonstrated by Captor's recently announced proposed investment in Growth Network Solutions."

In April, the company announced a non-binding term sheet with Growth Network Holdings Inc. to acquire a 30 percent equity stake and an option to acquire the remaining shares. Growth Network operates two retail dispensaries in the Los Angeles area and plans to open three more locations this year. Captor also acquired Chai Cannabis Inc. in August, which owns a recreational cannabis dispensary in Santa Cruz, as well as a delivery license.

Captor plans to continue its acquisition spree over the coming months. According to a press release in early August, the company is already in the process of acquiring two more dispensaries in Monterey Bay and Silicon Beach, which would bring its total to five retail cannabis dispensaries in California.

Cannabis Cultivation Facilities

Captor Capital leased two cannabis cultivation facilities in Washington State that are equipped to produce high-grade cannabis through its I-5 Holdings subsidiary. Currently, the company is in the process of sub-leasing these facilities to licensed growers, as well as negotiating license agreements with the sub-lessee cultivators for the use of certain intellectual property, such as operational procedures and cultivation processes.

In addition to these leases, the company's proposed acquisition of Growth Network would include a 45,000 sq. ft. cultivation facility in California that sits on 29.5 acres of land. Growth Network plans to build a new 500,000 sq. ft. cultivation facility on the land, which would make it one of the largest indoor cultivation facilities in the state, as well as extraction, manufacturing, packaging, distribution, and testing facilities.

"We are very pleased to have reached this agreement in principle with Captor and we are excited to be working with investors that understand not only us and our business, but our market," said Growth Network CEO John Jezzini. "By having all of these facilities under one roof, our business park will provide every service required, from seed to retail sale."

The company also plans to build out its manufacturing footprint beyond just cultivation. In early-August, the company announced that it's in the final stages of negotiation with Mellow Extracts LLC to acquire its state of the art extraction lab in Costa Mesa. The lab will be used to produce ultra-premium oil and provide service-for-hire extraction, as well as co-packing capabilities for white label and private label cannabis brands.

Looking Ahead

For more information, visit the company's website at www.capitalcapital.com.

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