MJardin Group Announces Definitive Agreement for Joint Venture with Rama First Nation
January 10, 2019
MJardin and Rama to Break Ground on Large-Scale Cannabis Production
and Retail Facilities
DENVER–(BUSINESS WIRE)–MJardin Group, Inc. (“MJardin” or the “Company”)
(CSE:MJAR), a leader in cannabis management, announced today that it has
completed a definitive agreement for its previously announced joint
venture with Rama First Nation to bring large-scale cannabis
cultivation, extraction, and retail to Rama, Ontario and the surrounding
region. The partnership’s first major project will be the construction
of a large-scale cannabis production facility which will create at least
100 permanent jobs for Rama and area residents.
The Chippewas of Rama First Nation (Rama) has been known as ‘the
gathering place’, where travellers journeyed for many reasons. Today, it
is home to Casino Rama, a tourism attraction that brings thousands of
visitors to the area daily for gaming, shows, conventions, shopping and
fine dining. Guided by a long-term community visioning which has built a
sustainable economic foundation, this proud, progressive First Nation
community provides members and area residents with employment close to
home and services for family living and recreation.
“MJardin’s strong financial backing from Bridging Finance, an
Indigenous-led company, allows us to quickly scale-up and bring safe
cannabis production, economic development and job creation to our
community,” said Chief Rodney Noganosh for Rama First Nation. “We are
pleased to finalize our joint venture agreement with MJardin and look
forward to establishing and growing the local cannabis industry in Rama
and surrounding region.”
“MJardin has pioneered a unique business model to drive our growth and
expansion across Canada through our partnerships with Indigenous
communities,” said Rishi Gautam, Chairman and Chief Executive Officer of
MJardin. “Our joint venture with Rama allows us to co-own and operate
cannabis assets and capture margin throughout the entire value chain
across cultivation, extraction and retail. This partnership will also
further diversify Rama’s local economy and bring new economic
development and employment opportunities to the Indigenous community.”
David Sharpe, CEO of Bridging Finance, an Indigenous led company, has
been a key advisor, bringing financial backing and supporting MJardin’s
execution of its Indigenous joint ventures. Through the strategic
partnership with Bridging Finance and the establishment of the Bridging
Infrastructure Fund, MJardin has unique access to growth capital for
continued infrastructure investments and consolidation of strong
operational cannabis assets.
About MJardin Group
MJardin is a global cannabis management platform with extensive
experience in cultivation, processing, distribution and retail. For over
10 years, MJardin has refined cultivation methodologies, developed state
of the art facilities and implemented vertical integration for and on
behalf of license owners. As a well-capitalized organization, MJardin
continues to pursue strategic expansion and M&A opportunities across
global legal cannabis markets. MJardin is based in Denver, Colorado,
with offices in Toronto, Canada and Barcelona, Spain. For more
information, please visit www.mjardin.com.
About RAMA First Nation
Rama First Nation is home to Casino Rama and many flourishing community
enterprises including two Tim Horton’s franchises, a Shell Station, the
Gathering Place stores, Black River Wilderness Park, the Ojibway Bay
Marina and property leasing. Rama’s commitment to community and economic
development growth remain focal points for the future. With long
standing local and regional relationships, the Chippewas of Rama First
Nation is one of the country’s leading First Nation communities. For
more information, please visit www.ramafirstnation.ca.
The CSE has not in any way passed upon the merits of and has neither
approved nor disapproved the contents of this news release.
Forward-Looking Information
This news release contains forward-looking information based on
current expectations. Statements about, among other things, future
developments and the business and operations of MJardin, the Joint
Venture with Rama First Nation discussed in this press release, the
growth of or global footprint and our intentions to leverage our scale
for continued organic growth and to pursue strategic investments are all
forward-looking information. These statements should not be read
as guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors that
may cause actual results, performance or achievements to be materially
different from those implied by such statements. Such factors
include, but are not limited to: our ability to identify and pursue
growth, financing and other strategic objectives, and the regulatory and
economic environments in the jurisdictions we operate or intend to
operate or investment in. Although such statements are based on
management’s reasonable assumptions at the date such statements are
made, there can be no assurance that the proposed acquisition will occur
and that such forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such forward-looking information. Accordingly,
readers should not place undue reliance on the forward-looking
information. MJardin assumes no responsibility to update or
revise forward-looking information to reflect new events or
circumstances unless required by applicable law.
Contacts
Media Contact:
Cory Ziskind
ICR
646-277-1232
cory.ziskind@icrinc.com
Investor Contact:
Ali Mahdavi
Capital Markets &
Investor Relations
416-962-3300
Ali.mahdavi@MJardin.com
or
Frank
Knuettel II, 720-613-4019
Chief Strategy Officer
Frank.Knuettel@MJardin.com
Chippewas of Rama First Nation
Cathy Edney, 705-325-3611
cathye@ramafirstnation.ca