Wildfire Collective signs $2,500,000 LOI with Global Grow Inc.
OTTAWA, Sept. 30, 2019 (GLOBE NEWSWIRE) — Over the summer the Wildfire campaign has generated widespread engagement within the cannabis industry, which has resulted in significant brand recognition across the country.
Wildfire is pleased to share some major company updates.In order to expedite the buildout of the production facilities for the 2020 growing season, while honouring early investors in the equity crowdfunding campaign, the company has entered into an LOI for a unique financing agreement. This agreement allows the company to maintain the anticipated production timeline while respecting its commitment to the grassroots investors.
Wildfire has signed a letter of intent with a lead investor, Global Grow Inc., who is building a portfolio of low-cost, high-quality, outdoor cannabis and hemp cultivation facilities around the world. Global Grow is committing to funding $2.5M over 3 tranches based on milestones. The definitive agreement is subject to satisfactory due diligence by both parties.
Wildfire has also added two new industry experts to their advisory board. The company is pleased to welcome Dr. Hyder Khoja, a PhD in Molecular Biology, who will assist with R&D strategy. The second advisor is a cannabis extraction process and systems expert with extensive industry experience (temporarily confidential due to a NDA agreement).Consumer demand for premium craft cannabis is high, and is expected to increase with the inclusion of future formats in Cannabis 2.0. These developments position the Wildfire Collective for success at scale, while staying true to its local roots. Wildfire will exceed industry standards for eco-friendly business practices and provide sustainable opportunities for small farmers across the country.Full details of the offering can be found at www.wildfirecollective.ca/campaign. This document is for information purposes only. Please consult your financial advisor before making an investment.ABOUT WILDFIRE COLLECTIVE:
Wildfire Collective is a network of experienced Canadian farms that includes a team with decades of experience in the highly-regulated legal cannabis industry. Wildfire is craft-focused, fueled by a passion for the plant and a relentless pursuit of quality. Headquartered in the heart of the Ottawa Valley, Wildfire’s unique, organic, small-batch cultivation plans maximize quality production while minimizing overhead and the impact on the environment.ABOUT FRONTFUNDR:
FrontFundr is an online investment platform and a registered exempt market dealer. FrontFundr is the bridge that connects investors and entrepreneurs. They use today’s technology to enable entrepreneurs to raise money from a much larger investor community. This is an opportunity for seasoned investors and the wider public to come together to directly drive innovation and entrepreneurship. With FrontFundr, both experienced and regular investors are able to exercise positive influence on businesses they would like to see succeed.For Media Inquires: