C21 Investments Inc. (CSE:CXXI) Breaking News - July 31, 2018

C21 Investments appoints Randy Torcom as Vice President of Marketing
 

Leading Integrated Cannabis Company continues to build world-class operations

Vancouver, British Columbia -- July 31, 2018 -- C21 Investments Inc. (CSE:CXXI) continues to build a strong management team with the appointment of Randy Torcom as Vice President of Marketing. C21 Investments is highly focused on building and acquiring market leading marijuana brands. C21’s vertical integration is important for maintaining high margins, however, brand building is the future of the industry. The addition of Torcom to the C21 team, with his marketing and branding experience, is instrumental to the execution of the Company’s brand building mission.

“Brand integrity and authenticity are critical for success in the cannabis industry,” said Torcom. “C21 Investments is committed to a strong national and international brand strategy that delivers a compelling proposition of high-quality products, with life-style and value delivery that consumers can have a deep and meaningful connection with that will stand the test of time.”

Torcom has more than 18 years experience crafting innovative strategies to introduce new product lines while enhancing brand identity and consumer perception. Randy’s most recent experience includes his role as Vice-President of Brand Marketing at Burton Snowboards, where he owned the brand voice and drove competitive market positioning across multiple channels. Additionally, Torcom oversaw the visual retail strategy, ensuring a premium aesthetic and elevated customer experience globally across all brick and mortar locations. Torcom will be responsible for C21 Investments products worldwide and will be based in the Company’s Oregon operations. His appointment is effective immediately.

“Randy is an accomplished leader with multi-faceted creative talents and a proven track record of achieving impressive branding milestones,” said Robert Cheney, President and Chief Executive Officer, C21 Investments. “His fresh perspective will be invaluable as C21 Investments continues to add new brands and products through our aggressive acquisition strategy.”

ABOUT C21 INVESTMENTS

C21 Investments Inc. (CSE – CXXI) is a vertically integrated cannabis corporation that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The company has definitive agreements to acquire cannabis companies in Oregon and Nevada, that when closed will make C21 one of the largest public cannabis companies by revenue in the world. C21's current and announced operations currently comprise Silver State Relief in Nevada, as well as Phantom Farms, Swell Companies, Eco Firma Farms, and five dispensaries in two states. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil and vaporizer cartridges.

The CSE has not accepted responsibility for the adequacy or accuracy of this release.
For more information please contact:
Graeme Harris
graeme@strategy2communications.com
+1 416 402-7050

SOURCE C21 Investments Inc.

Michael Kidd appointed Chief Financial Officer at C21 Investments

Vancouver, British Columbia -- July 26, 2018 -- C21 Investments Inc. (CSE:CXXI) continues to build a strong management team with the appointment of Michael Kidd as Chief Financial Officer. A native of Vancouver with international experience, Kidd brings an extensive background in finance with privately held firms in a variety of industries ranging from forestry to online retailing. Kidd will report to Robert Cheney, President and Chief Executive Officer, and his appointment is effective immediately.

"Michael has valuable experience in operations of large assets and treasury management," said Cheney. "His experience in multiple, diverse industries makes him ideally qualified for a role with a high-growth firm like C21, which is acquiring quality operators in the cannabis industry."

Kidd was most recently Chief Operating Officer and Chief Financial Officer at E.C.S. Electrical Cable Supply Ltd., a privately held leading distributor with operations in Canada and Dubai. Kidd was also Chief Financial Officer of Storefront.com Online; Director of Finance for Pacific Forest Products of New Zealand, as well as VP Finance at CITIC, an Asia-based, multi-national investment firm with interests around the world, for its New Zealand and Canadian operations.

"With its strong balance sheet and definitive agreements to acquire cannabis companies in Nevada and Oregon, C21 is establishing a solid base with attractive growth potential," said Kidd. "The cannabis industry presents tremendous opportunity for companies that have revenue-producing assets, talented management, and an ethical culture."

ABOUT C21 INVESTMENTS

C21 Investments Inc. (CSE – CXXI) is a vertically integrated cannabis corporation that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The company has definitive agreements to acquire cannabis companies in Oregon and Nevada, that when closed will make C21 one of the largest public cannabis companies by revenue in the world. C21's current and announced operations currently comprise Silver State Relief in Nevada, as well as Phantom Farms, Swell Companies, Eco Firma Farms, and five dispensaries in two states. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil and vaporizer cartridges.

The CSE has not accepted responsibility for the adequacy or accuracy of this release.

SOURCE C21 Investments Inc.
 

C21 Closes Financing for $5,330,000 Gross Proceeds

Vancouver, British Columbia -- July 19, 2018 -- C21 Investments Inc. (CSE:CXXI) (the "Company" or "C21") announces it has closed the private placement disclosed in News Releases dated June 28, 2018 and July 9, 2018 for gross proceeds of Cdn$5,330,000.

In accordance with the provisions of Subscription Agreements, on July 19, 2018 the Company issued a total of 2,132,000 Units at Cdn$2.50 per Unit, each Unit consisting of one common share (the "Shares") and one-half (1/2) share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share (for a total of up to 1,066,000 Warrant Shares) at Cdn$5.00 per Warrant Share on or before July 18, 2019.

The Shares, together with any Warrant Shares that may be issued on exercise of the Warrants (except for 1,280,000 Units that were issued to consultants, and accordingly are not subject to a hold period), will be subject to a hold period under applicable Canadian securities laws expiring on November 20, 2018, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

As previously disclosed, proceeds raised will be used toward expenditures required for new acquisitions currently under negotiation, and for general working capital purposes.

ON BEHALF OF THE BOARD
SIGNED: "Keturah Nathe"
Keturah Nathe, Director
For more information contact:
Keturah Nathe Tel: (604) 336-8613

The CSE has not accepted responsibility for the adequacy or accuracy of this release.

SOURCE C21 Investments Inc.
 

C21 Investments Acquires Silver State Relief With CDN $37.5 Million of Revenue in Nevada

Vancouver, British Columbia -- July 16, 2018 -- C21 Investments Inc. (CSE:CXXI) is pleased to announce a strategic expansion into the State of Nevada with one of the largest investment transactions into the USA cannabis industry by any Canadian public company to date. The acquisition (the "Acquisition") and investment of expansion capital into Silver State Relief LLC and Silver State Cultivation LLC (Collectively "Silver State") represents a major investment transaction valuing the acquired vertically integrated assets in excess of USD$50 million. This major acquisition of revenue generating assets of CDN $37.5 million trailing 12-month revenue (USD $28.5 million) is a new milestone in C21's expansion into the USA cannabis industry. The Silver State transaction is the first transaction in a larger plan by C21 to significantly expand cultivation, processing, wholesale distribution of branded products and retail operations throughout the State of Nevada. The Silver State Nevada partnership will establish C21's competitive position in the Nevada market. C21's investment and expansion of Silver State's operations will generate new high-quality jobs and economic development within the State of Nevada. http://www.cxxi.ca

President and CEO of C21 Robert Cheney stated: "Our entire C21 leadership is very excited to enter the Nevada market and looks forward to working with our new partners at Silver State. This represents our first acquisition of an established and profitable, vertically integrated business with strong potential for significant expansion on all levels, and is aligned with C21's long term growth objectives."

Silver State Acquisition Terms

For consideration to acquire Silver State Cultivation LLC and Silver State Relief LLC, USD$20 million cash payment paid upon closing with an additional 2,500,000 common shares to be granted upon closing.

An interest bearing (3% per annum) convertible note with a principal value of USD$14 million with a term of 36-months from the date of closing, where the principal amount of the note is convertible into common shares of the Company at a price of USD$3.50 per common share of C21. The Company will have an option to acquire the 155,000 square-foot cultivation facility, including the 8,000-square foot retail dispensary building, located in Sparks, Nevada (the "Sparks"), for an acquisition price of USD$16 million or 4,571, 428 common shares at a deemed value of USD$3.50 per share.
The option to acquire the second dispensary real estate located in Fernley, Nevada (the "Fernley") for an acquisition price of USD$750,000 for the existing building, land and fixtures, including construction adjustments, with a total estimated cost being approximately USD$2,175,000.

A commitment of USD$10 million allocated for the purpose of further expansion within the State of Nevada.
The closing of the Acquisition is conditional upon due diligence and subject to regulatory approval.

Regarding the new partnership, Sonny Newman, founder and sole owner of Silver State commented; "My team is pleased to become part of the C21 family. The Silver State brands and products are a strong compliment to C21's existing business, and with the financial strength of C21 we look forward to expanding our reach within Nevada and nationwide."

About Silver State

Silver State was one of the first two companies to receive a cannabis cultivation, production and retail license in the State of Nevada. Silver State cultivated and sold Nevada's first legal ounce of marijuana and the company continues to be a leader in the Nevada industry. Silver State operates an industrial state-of-the-art indoor cultivation and processing facility of approximately 155,000 square feet of licensed space in Washoe County, Northern Nevada, where there is capacity in the facility to triple current production rates and expand revenues.

Silver State also owns two retail licenses to operate dispensaries in Nevada. Sparks, the first dispensary is located in the city of Sparks, with a second location scheduled to open later this year in the city of Fernley, Lyon County. Sparks is an 8,000 square-foot "cannabis superstore" facility, located in Washoe county, having 21 points of sale and servicing over 36,000 customers per month. The Fernley dispensary license, is an existing licensed building and property, located in an area experiencing rapid economic growth and housing/business development. Fernley is currently under construction and is expected to go into operation in the fourth quarter of 2018. This new retail location along with expanding wholesale operations is anticipated to capture similar revenue of Sparks, with the potential to double revenues over the coming 18 months.

Silver State Revenues

In 2017, Silver State reported approximately USD$17 million of top line revenue and approximately USD$7 Million of pre-tax profit, a year that included less than six months of recreational sales. In 2018 the revenue for the first six months, as at June 30, 2018 totaled approximately USD$15 million. The 2018 full year revenues are expected to significantly exceed 2017 revenues, with the trailing revenues for the past 12-months totaling USD$28.5 Million (CDN $37.5 Million). The Sparks dispensary is recorded as one of the top three revenue producing dispensaries in Nevada for the past 36-months in a row. http://www.silverstaterelief.com

About C21 Investments

C21 is a cannabis company with newly acquired operations in Oregon, USA. The Company is in active discussions to acquire additional operations in the USA and globally, that allows for C21 to establish a world-class, vertically integrated cannabis company. C21's strategy is to acquire existing and successful cannabis operations with experienced management teams in place. C21's focus is to expand into jurisdictions where it can wholly own indoor/outdoor cultivation operations, processing/extraction facilities, bakeries, branded products, and retail dispensaries with a large distribution network. C21's strategy will allow the Company to report top line revenues and afford C21 the ability to compete aggressively in the rapid growth of the cannabis industry. http://www.cxxi.ca

ON BEHALF OF THE BOARD
SIGNED: "Robert Cheney"
Robert Cheney, CEO, President, Director

Cautionary Statement:
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company's future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals, statements regarding the timing and completion of the listing on the CSE and C21's USA Acquisitions. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company's participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management's current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.

The CSE has not accepted responsibility for the adequacy or accuracy of this release, and in no way has passed upon the merits of the Acquisition, nor has it approved or disapproved the contents of this press release.

SOURCE C21 Investments Inc.

C21 Expands Oregon Operations, Acquires Swell Companies Limited Vancouver, British Columbia

Vancouver, British Columbia -- July 9, 2018 -- C21 Investments Inc. (CSE:CXXI) is pleased to announce a strategic partnership and investment of expansion capital into Swell Companies Limited (the "Swell"), one of the most recognized and respected cannabis extraction and consumer packaged goods companies in Oregon.

Operating since 2015, Swell has demonstrated a commitment to quality, consistent innovation, and execution at scale with some of Oregon's most recognized brands. Swell manufactures and distributes over 50 unique SKUs, with products available statewide in over 275 licensed retail locations. In 2017, the company shipped over 500,000 product units within Oregon and anticipates more than doubling product units shipped through existing sales channels in 2018.

Pursuant to the signed term sheet (the "Term Sheet"), C21 will acquire 100% of Swell's membership units (the "Acquisition") and has agreed to invest new capital to expand Swell's manufacturing, branded product, and wholesale operations. The partnership will strengthen C21's competitive position in Oregon and in nationwide through access to Swell's highly-skilled technical expertise and established brand. This acquisition will also support the continued growth of quality manufacturing jobs at Swell and related Oregon businesses.

Swell manufactures, extracts, packages, and distributes all of its products from a centrally-located 10,000-sqaure foot facility in Portland, Oregon. Swell also operates a 5,000-square foot distribution warehouse and has expansion rights for an additional 18,000 square feet, adjacent to the primary facility. Swell currently employs 30 full-time industry professionals and prides itself on being one of the first cannabis companies in Oregon to offer comprehensive benefits to all its employees.

Commenting on the new partnership Alleh Lindquist, Founder and CEO stated, "We believe C21 is uniquely positioned to create the right kind of vertical model — the aggregation of quality stand-alone assets that can be strategically aligned to harmonize the supply chain, diversify risk, build brand equity and maximize long-term value. This is an exciting time to be joining the C21 family of companies."

"Partnering with Swell is a significant move in our national rollout strategy, allowing us to rapidly expand extraction and manufacturing capacity across legalized states as well as bridgehead into fast-growing CBD and wellness product opportunities." said Robert Cheney, C21's CEO.

i. Pursuant to the Term Sheet, C21 will be acquiring 100% of Swell membership units a total consideration of $14.7 million USD by way of a convertible note (the "Note") with C21 common shares (the "Shares") valued at USD$3.00 per Share convertible into a total of 4,900,000 Shares of C21 over a 24-month period. The Note valued at USD$3,150,000 (1,050,000 shares) is convertible on closing of the transaction (the "Closing"). An additional amount of USD$4,200,000 (1,400,000 Shares) is convertible 18 months from the date of Closing. The remaining amount of the Note valued at USD$7,350,000 (2,450,000 Shares) is convertible 24 months from the date of Closing. The Note has a maximum of USD $5,000,000.00 cash redemption value (the "Redemption Option") in the event the C21 Shares are trading at less than CDN$3.75 per share over a period of 15 trading days date 24-months from the date of Closing. The Redemption Option, if exercised, will be subject to reasonable notice. The Redemption Option of the Note for cash, or Shares will be subject to rules, policies and regulations set out by the Canadian Securities Exchange (the "CSE"), governing regulatory bodies, including other conditions to be set for in the definitive agreement (the "Definitive Agreement").

ii. For additional consideration, $18 million USD of earn-out shares (6 Million Shares valued at USD$3.00 per Share) will be issued over a five-year period upon Swell achieving certain earn-out performance targets to be defined in the Definitive Agreement. In addition to the earn-out Shares, the unit holders of Swell will be granted options to purchase 1,050,000 Shares of C21 at a deemed price of CDN$2.20 per Share for a period of 24 months from Closing. All Shares that may be issued under the terms of the Acquisition will be subject to the CSE policies.

The deferred note conversion terms and the five-year earn-out targets are intended to align management and shareholder interests and focus the team on executing C21's rapid growth plan.

Closing is expected to occur in Q2 2018, conditional upon completion of due diligence and regulatory approval.

Swell is a growing and Extraction, manufacturer and distribution in a high growth cannabis sector of THC and CBD products within Oregon. Swell currently produces raw oil, encapsulated and vaporizer products under the in-house brands; Swell, Dab Society and Hood Oil, while also providing contract manufacturing and distribution for a select group of best-in-class brands such as, Quill, OCO, and Apothecanna. Swell is a founding board member of the Oregon Cannabis Association, active at the state and local jurisdictional level with agency rule-making, and further supports a variety of economic development and community non-profit organizations. Swell's established reputation for innovation and quality manufacturing and extraction of THC and CBD consumer packaged goods positions the company for high potential growth in the rapid developing US cannabis markets.

www.be-swell.com

C21 is a British Columbia based cannabis investment company with newly acquired operations in Oregon. The company is driven by a vision to establish a world-class, vertically integrated cannabis ecosystem and is in active discussions to acquire additional operations across the USA and globally. C21 acquires established and profitable cannabis operations with seasoned management in strategic markets. Sector focus areas include indoor/outdoor cultivation operations, processing/extraction facilities, branded products, and retail operations with existing scale. When fully-developed, the C21 portfolio will produce strong top-line revenues with compelling underlying fundamentals, allowing the company to compete aggressively in the rapid growth of the global cannabis industry.

http://www.cxxi.ca
ON BEHALF OF THE BOARD
SIGNED: "Robert Cheney"
Robert Cheney, CEO, President, Director

For more information contact:
Robert Cheney Tel: (604) 336-8613
www.cxxi.ca

The CSE has not accepted responsibility for the adequacy or accuracy of this release.

Cautionary Statement:
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company's future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company's participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management's current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration.

SOURCE C21 Investments Inc.

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About C21 Investments Inc.:

C21 OPERATIONS
C21 makes acquisitions and operates along the entire spectrum of the cannabis space, capturing profit margins through the entire value chain, so to report top line revenues and afford management the ability to fully compete aggressively in the rapidly growing cannabis market.


C21 Investments Inc. (CSE – CXXI) is a vertically integrated cannabis corporation focused on the cultivation, manufacturing, processing, and distribution of quality cannabis throughout the United States, including non-hemp derived CBD products which are distributable throughout North America and the International markets.

VERTICAL INTEGRATION
We are an ecosystem of leading businesses in strategic markets focused on value creation through supply chain optimization, quality manufacturing, brand extension, and distribution and retail channels.

7 Leaf

The 7 Leaf brand opened its first dispensary location on the main transportation route in Salem, and has developed a loyal following of roughly 2000 customers per month.

A 2nd larger retail shop with an additional 2000 sqft is being renovated and will open soon in a nearby Salem neighborhood currently unserved by any retail dispensary.

OPERATIONS

Pure Green

Pure Green is a 3,000 sqft retail dispensary serving over 2500 loyal customers per month along Portland’s “Green Mile.”.

Operating since January 2014 as a local retailer of both medical and recreational products, Pure Green occupies the same building that once housed Portland’s first post-prohibition liquor store.

The founders of Pure Green have been public policy advocates for cannabis legalization for more than two decades.

EFF

Indoor Operations

The Company's impending acquisition of Eco Firma Farms Oregon, involves an approximately 20-acre cultivation site with a building structure providing approximately 26,000 square feet of available indoor grow, processing and office space. The Company is acquiring a 100% interest in the business holding company, Proudest Monkey Holdings LLC, and a 100% interest the property holding company, Covered Marina LLC, under a put/call option lease agreement. Details of the transaction are set out below. Initially the company will occupy the land and premises under a lease with an option to buy.

To date several commercial indoor crop cycles have been successfully completed. The Oregon facility is currently producing cannabis at a rate of approximately 2,400 pounds per annum. Oregon's cultivation team is led by experienced cannabis cultivators with combined experience of over 20 years in the industry. The Company intends to double Oregon's indoor production capacity within nine months from the closing of the Acquisitions. Additional out door grow operations including greenhouses and processing will also be included in the 2018 expansion program. This increased capacity will allow for the production of cannabis oil and the processing of branded bakery and edible products. The 2019 production is targeted to be 5,000 to 6,000 pounds of high quality indoor flower.

Swell

Operating since 2015, Swell has demonstrated a commitment to quality, consistent innovation, and execution at scale with some of Oregon's most recognized brands. Swell manufactures and distributes over 50 unique SKUs, with products available statewide in over 275 licensed retail locations. In 2017, the company shipped over 500,000 product units within Oregon and anticipates more than doubling product units shipped through existing sales channels in 2018.

Swell manufactures, extracts, packages, and distributes all of its products from a centrally-located 10,000-square foot facility in Portland, Oregon. Swell also operates a 5,000-square foot distribution warehouse and has expansion rights for an additional 18,000 square feet, adjacent to the primary facility. Swell currently employs 30 full-time industry professionals and prides itself on being one of the first cannabis companies in Oregon to offer comprehensive benefits to all its employees.

Swell is a growing and Extraction, manufacturer and distribution in a high growth cannabis sector of THC and CBD products within Oregon. Swell currently produces raw oil, encapsulated and vaporizer products under the in-house brands; Swell, Dab Society and Hood Oil, while also providing contract manufacturing and distribution for a select group of best-in-class brands such as, Quill, OCO, and Apothecanna. Swell is a founding board member of the Oregon Cannabis Association, active at the state and local jurisdictional level with agency rule-making, and further supports a variety of economic development and community non-profit organizations. Swell's established reputation for innovation and quality manufacturing and extraction of THC and CBD consumer packaged goods positions the company for high potential growth in the rapid developing US cannabis markets.

Phantom Farms

Outdoor Operations

Operating in Oregon since 2008, Phantom Farms is a well-established, ubiquitous company, with “Clean Green Certified” cannabis cultivation operations, including expertly crafted and highly sought after branded products, which are currently available in over 175 Oregon dispensary locations.

Phantom Farm’s outdoor operation, cultivates 80,000 square feet of “mighty tasty” cannabis in the famous Rouge Valley, in Southern Oregon, and will undergo further expansion of 40,000 square feet in its 2018 cultivation operations.

Indoor Operations

In addition to its outdoor operations, Phantom Farms has a 5,000-square foot, state-of-the-art indoor facility, which includes a wholesale distribution warehouse and an extraction laboratory located onsite. Phantom Farms currently employs 45 full-time, highly skilled industry workers; an additional 30 skilled laborers are employed during a harvest season. Phantom Farms sales representatives currently cover the entire state and the wholesale distribution operations will be synergistic with the current ECO Firma Farms cultivation operations, leading to potential increased group sales and greater market penetration with more brand choices for customers.

Silver State Relief

Silver State was one of the first two companies to receive a cannabis cultivation, production and retail license in the State of Nevada. Silver State cultivated and sold Nevada’s first legal ounce of marijuana and the company continues to be a leader in the Nevada industry. Silver State operates an industrial state-of-the-art indoor cultivation and processing facility of approximately 155,000 square feet of licensed space in Washoe County, Northern Nevada, where there is capacity in the facility to triple current production rates and expand revenues.

Silver State also owns two retail licenses to operate dispensaries in Nevada. Sparks, the first dispensary is located in the city of Sparks, with a second location scheduled to open later this year in the city of Fernley, Lyon County. Sparks is an 8,000 square-foot “cannabis superstore” facility, located in Washoe county, having 21 points of sale and servicing over 36,000 customers per month. The Fernley dispensary license, is an existing licensed building and property, located in an area experiencing rapid economic growth and housing/business development. Fernley is currently under construction and is expected to go into operation in the fourth quarter of 2018. This new retail location along with expanding wholesale operations is anticipated to capture similar revenue of Sparks, with the potential to double revenues over the coming 18 months.

Silver State’s operations have been featured positively in many media outlets over the past two years as sales and customer traffic grew at a rapid rate. Recently Rolling Stone Magazine stated, “Reno has a dozen or so dispensaries, including the highly rated Silver State Relief……… Silver State offers recreational marijuana delivery and discounts for veterans, seniors and senior veterans.” (See: ROLLING STONE: “The Rolling Stone Guide to Legal Pot: Nevada”)

Silver State Revenues

In 2017, Silver State reported approximately USD$17 million of top line revenue and approximately USD$7 Million of pre-tax profit, a year that included less than six months of recreational sales. In 2018 the revenue for the first six months, as at June 30, 2018 totaled approximately USD$15 million. The 2018 full year revenues are expected to significantly exceed 2017 revenues, with the trailing revenues for the past 12-months totalling USD$28.5 Million (CDN $37.5 Million). The Sparks dispensary is recorded as one of the top three revenue producing dispensaries in Nevada for the past 36-months in a row.

SOURCE: https://www.cxxi.ca/

Disclaimer