SAN DIEGO, June 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBDCapitalGroup (“CCG” or the “Company”), a CBD nutraceuticals investment and scaling company, today announced that it has secured a bridge funding round in new growth capital from Atwood Consortium, LLC (“Atwood”) to complete the acquisition of its first two subsidiaries, Medix CBD and Mana Artisan Botanics™. CCG will now own a controlling stake in both companies and is on a trajectory to prepare for a Series A funding round.
Inger Airheart, Co-Portfolio Manager of Atwood, said, “We invested into CCG because from the beginning, I have watched David and his team consistently execute as promised and that is a rarity in the cannabis sector. The CCG team is made up of true professionals who have done over $1 billion in revenue generation during their careers. Their model is insanely capital efficient because they know how to structure deals that simultaneously protect investors and accelerate entrepreneurs.”
The funding will provide CCG with the resources to prove that it can execute profitable and strategic acquisitions.
“As many cannabis businesses are struggling to secure funding during the COVID-19 pandemic, we are proud that our team’s talent and the industry’s growth potential were recognized through this investment backing,” said CBDCapitalGroup CEO David Metzler. “With this funding, we will close out our first two acquisitions, and then make the necessary business strategy changes before we start closing our Series A funding round as planned.”
The next steps for the Company are focused on guiding business strategy adjustments, including moving both Medix CBD and Mana Artisan Botanics™ to an outsourced fulfillment process and increasing marketing initiatives so they can continue year-over-year growth rates.
About CBDCapitalGroup:
CBDCapitalGroup (“CCG” or the “Company”) is an investment and scaling company that acquires and develops mid-stage CBD and hemp nutraceutical companies to promote both financial and professional success. The Company is led by a group of seasoned entrepreneurs who have managed over $1 billion in combined revenue over their careers, and now apply their diverse business experiences to establish trust, quality standards and efficiencies in the CBD market. The Company provides CBD industry entrepreneurs a faster path to revenue growth and liquidity with capital, expert advice and operational resources needed to scale already profitable businesses.
About Atwood Consortium, LLC:
Atwood Consortium, LLC is the Managing Member for CFP Fund I, LLC (the "CFP Fund") which is a private investment fund that provides financing and equity solutions to clients engaged in alternative business industries with heavy concentration in the California cannabis marketplace. Atwood team members sit on numerous Boards and Executive Committees throughout the cannabis industry.
The CFP Fund has surpassed $25 million in funded transactions and continues to work with its current and prospective clients to expand its portfolio of transactions. The CFP Fund seeks to achieve attractive risk-adjusted returns for its investor group, many of which are effective strategic partners and seasoned investors.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE:
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease
LEGAL DISCLOSURE:
None of the parties involved, including CBDCapitalGroup and Medix CBD, sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). Medix CBD does grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
PUBLIC RELATIONS CONTACT:
Kathryn Reinhardt
Account Manager, CMW Media
P: 858-283-4005
kathryn@cmwmedia.com
www.cmwmedia.com