CPE Media News (12/4/2018) – OG DNA Genetics Inc. has raised US $35 million in two rounds of financing closed in October and November. Investments by Canadian investors accounted for bulk of financings.
KES 7 Capital Inc. acted as placement agent for these financings. DLA Piper (Canada) LLP acted as legal counsel.
DNA intends to use the net proceeds to manufacture, distribute, brand and sell a wide variety of high quality adult cannabis products under the DNA label, including indoor-grown dry flower, pre-rolled joints, vaporizer cartridges, and a full line of concentrates.
Amsterdam, Netherlands and San Diego California based OG DNA Genetics is a newly incorporated BC company and is likely to seek a listing in Canada.
photo credit: OG DNA Genetics
OG DNA Genetics Inc. Completes US$35 Million Equity Capital Raise
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LOS ANGELES, Dec. 03, 2018 (GLOBE NEWSWIRE) — OG DNA Genetics Inc. (“DNA” or the “Company”), a globally recognized leading cannabis brand, has successfully closed the first two equity financings in the history of the company, bringing in an aggregate of US$35 million from a strong group of institutional and strategic investors. KES 7 Capital Inc. acted as placement agent for these financings.
For over 15 years, genetics bred by DNA have won hundreds of awards around the world, making DNA a global standard in breeding and growing truly best-in-class cultivars (strains).
DNA intends to use the net proceeds from this capital injection to manufacture, distribute, brand and sell a wide variety of high quality adult cannabis products under the DNA label, including indoor-grown dry flower, pre-rolled joints, vaporizer cartridges, and a full line of concentrates.
“I’m excited with our ability to now bridge the gap between real financial markets and real cannabis companies,” said Don Morris, co-founder of DNA. “We have a strong network of great operators and brands across many verticals and applications in the cannabis space, which combined with this capital raise enables us to further develop and refine them, while always staying true to our core strengths, which have positioned us extremely well for our next phase of growth.”
“This capital raise will allow us to build out our California operations while continuing to license our products internationally through a strong network of national and international partners,” added Charles Philips, CEO of DNA. “DNA’s strong brand visibility and credibility, coupled with access to institutional equity capital, will accelerate our acquisitive growth and allow us to capitalize on the significant opportunity in the fast-growing legal cannabis marketplace.”
About OG DNA Genetics Inc.
DNA was rooted in Los Angeles and founded in Amsterdam in 2004 by Don Morris and Aaron Yarkoni. Over the last decade, the Company has built and curated a seasoned genetic library and developed proven standard operating procedures for genetic selection, breeding, and cultivation. In a world that is increasingly opening up to commercial cannabis activity, DNA is positioned to become the first, truly geographically-diversified company with multiple partnerships with top-licensed producers and brands that have built their companies and global presence utilizing the “Powered by DNA” model. For more information, please visit www.dnagenetics.com.
Published: December 04, 2018
Founder & Interim Editor of L.A. Cannabis News