CannaRoyalty (CRZ.C) reported on its operations over the last nine months when the company released its consolidated audited financial results for the nine-month period ended December 31, 2016.
According to the news release, CannaRoyalty expanded its asset base with 24 investments across the market both in the United States and Canada, growing it from $3.9 million to $32.2 million.
All of this action took place in just nine months after CannaRoyalty completed the reverse takeover of Bonanza Blue Corp and commenced trading on the Canadian Securities Exchange.
After that period, CannaRoyalty moved to acquire 20% equity interest in Anandia Laboratories, completed a binding term sheet on a royalty financing arrangement with Rich Extracts.
The company also added to its war chest with a bought deal financing for aggregate gross proceeds of $15.0 million.
Then it got on the OTCQB, launched its CR Brands Division and concluded a binding term sheet for a royalty and distribution agreement with River Wellness.
Marc Lustig, CEO of CannaRoyalty, commented, “We achieved impressive growth by making significant strides in expanding our portfolio of diverse, high-potential assets. We established a unique platform to leverage the Cannabis market by accessing and deploying capital in strategic assets. Our value for investors is founded on a business model of accessing synergistic, growth-ready assets in North America’s emerging cannabis market.”
He went on, “Moving forward, our strong cash position and proven expertise, will allow us to continue this growth trajectory and to increase our foothold in a thriving market with significant high growth opportunities. With our RTO transaction completed and operating on a new calendar fiscal year, we look forward to reporting financial results that will demonstrate the benefits of our investment strategy.”
Then he concluded, “Since inception, our strategic vision for CannaRoyalty has been to build a portfolio of assets in high-growth sub-sectors of the rapidly expanding cannabis market. With the ability to access and deploy capital and provide financial acumen and industry expertise, we will leverage our network of investments to drive synergies and growth across our platform. This includes developing cannabis brands for safe and effective medical applications.”
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