TORONTO, Nov. 30, 2018 (GLOBE NEWSWIRE) — Captor Capital Corp. (“Captor” or the “Company”) (CSE: CPTR; FRANKFURT: NMV; STUTTGART: NMVA; USOTC: NWURF), a cannabis-focused investment company, is pleased to announce the results of its quarterly period ending September 30, 2018 have been filed on SEDAR. The objective of the Company is to provide its shareholders with long-term capital growth by investing in a portfolio of cannabis focused companies. Captor’s investments are accounted for at fair value. However, the Company would like to provide additional information on the operations of its cannabis dispensaries for the first 8 months of 2018.
The robust 8 calendar month financial results include:
Expected calendar year 2019 operational highlights include:
1. EBITDA adjusted for MedMen associated central costs and non-cash items; excludes the deduction for MedMen the management fee
2. Subject to regulatory approval
Captor’s wholly owned subsidiaries through its investments in three currently operating retail outlets, is very pleased to disclose the performance of its dispensaries – gross revenue of US$23,083,952 and adjusted EBITDA (Non-IFRS) of US$3,728,825 for the 8-month period between January 1, 2018 to August 31, 2018.
“The strength of our financial performance is a combination of having sourced prime retail locations, such as our West Hollywood and Capitola dispensaries, and our successful engagement with leading operating partners such as MedMen,” said Captor Capital CEO, John Zorbas. “Having achieved a solid retail base in California, we are now shifting our focus to completing the development of our manufacturing, distribution, and cultivation operations in southern California and the launch of an exciting new cannabis consumer brand which covers the full product spectrum. Furthermore, as we expect to imminently complete the regulatory process for our Castroville and Santa Barbara retail dispensaries, we will also be launching a new standardised brand of retail outlets to act as a base for the sale of our new product line brand as well as support our soon to be launched E-Commerce company.”
“Our team is diligently working on completing a final presentation of our 2019 strategy and I look forward to presenting this to our shareholders and the public in the near term,” continued Mr. Zorbas.
About Captor Capital
Captor Capital Corp. is a Canadian firm focused on the cannabis sector listed on the Canadian Securities Exchange, the OTC, and the Frankfurt Stock Exchange. A vertically integrated cannabis company, Captor provides recreational and medical marijuana based products to consumers via its leading brands and dispensary locations. Listed on the Canadian Securities Exchange, the OTCUSA, and the Frankfurt Stock Exchange, Captor owns and operates advanced growing facilities which produce consistent high quality contaminant free marijuana for its customers, as well as other high demand cannabis based goods for consumption. ?The company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale. Captor currently has a number of revenue generating cannabis investments including the world famous West Hollywood MedMen branded dispensary, CHAI in Santa Cruz and Higher Level, Castroville. Captor Capital is currently looking at additional revenue generating investments in the cannabis space and will be updating the market in due course.
Gavin Davidson, Communications
Captor Capital Corp.
Non-IFRS Financial and Performance Measures
Captor presents in the public announcement certain non-IFRS financial measures such as Adjusted EBITDA, being Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) less certain non-cash equity compensation expense, including one-time transaction fees and all other non-cash items. These measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.