Today, Captor Capital Corp. announced it entered into a joint venture with California based Three Habitat Consulting Holdco Inc., which owns and manages a retail chain of dispensaries in California under the brand One Plant. Captor and Three Habitat have set up a joint venture company called Captor Retail Group Inc., which will be owned 51% by Captor and 49% by Three Habitat. Under the terms of a contribution agreement entered into between Captor and Three Habitat, Captor will contribute $2mm in cash along with its two Chain branded dispensaries in Santa Cruz and Castroville in exchange for its 51% interest in CRG. Three Habitat will contribute its seven One Plant dispensaries to CRG in exchange for its 49% interest in CRG. Of the seven dispensaries being contributed to the Joint Venture by Three Habitat, the retail dispensaries in Salinas, Atwater, and El Sobrante are licensed and open for business. The locations in Antioch, Goleta, Lompoc, and Palm Springs are currently under construction and are expected to be operational soon.
mg Magazine – Cannabis News & Information, 08/17/2020 10:08:01