A Denver cannabis company that plans to assist franchisees arrange marijuana retail companies is about to go public next month in Canada, turning into the newest U.S. MJ enterprise to faucet into the Canadian capital market by means of a reverse takeover.
One Cannabis is about to list on the Canadian Securities Exchange in April and might be valued at as a lot as $250 million.
However, CEO Christian Hageseth, founding father of Denver-based Green Man Cannabis, careworn to Marijuana Business Daily that determine was extremely speculative and based mostly on how comparable corporations have been valued prior to now.
One Cannabis will roll the belongings of Green Man into the brand new enterprise via a reverse takeover of an inactive Canadian minerals company that Hageseth didn’t determine.
Green Man, based by Hageseth in 2009, at present has three dispensaries and a 118,000-square-foot cultivation facility in Colorado.
The new company has bought a complete of 5 franchises to date, however none are open but as they await regulatory approval.
One Cannabis is taking a look at Colorado and has different plans “under development” in California, Michigan, New Jersey and Ohio.
“The idea is for others to use our expertise in operating a compliant and profitable marijuana business,” Hageseth stated in a telephone interview from Toronto.
“We would like a large footprint of retail stores with customers knowing what to expect from the franchise model, like a McDonald’s or a 7-Eleven.”
In different information, Hageseth stated he has closed on the money buy of some acres of land close to Denver International Airport for a deliberate facility that features a dispensary, consumption lounge and outside live performance venue.
The roughly $6 million challenge is on a a lot smaller scale than Hageseth initially envisioned in 2015 – a $35 million venue referred to as the Colorado Cannabis Ranch & Amphitheater.