New location is the sixth operational Captor Retail Group dispensary
TORONTO, Jan. 11, 2021 (GLOBE NEWSWIRE) — Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMV; STUTTGART: NMVA), (“Captor” or the “Company”) is very pleased to announce that the flagship One Plant retail location in Antioch, California has received all operating licenses and is now open for business. The 6500 sq. ft. dispensary becomes Captor Retail Group’s (“CRG” or “The Group”) sixth operational dispensary, joining One Plant locations in Salinas, Atwater, and Contra Costa, along with the two Chai Powered by One Plant dispensaries in Santa Cruz and Castroville.
“We salute the efforts of the entire One Plant team in getting the Antioch location licensed, built out, and open for business on such a tight timeline,” said Captor Capital CEO, John Zorbas. “Captor Retail Group now operates a cluster of six dispensaries in Northern California, making us one of the largest cannabis retailers in the area.”
It is expected that CRG will be opening an additional three dispensaries in Q1 2021, bringing the total number of retail outlets operated by the group to nine. The next three locations will be opened in Lompoc, Goleta, and Palm Springs, providing CRG with access to the Southern California market.
“Opening the Antioch location is a major milestone on our quest to become the largest cannabis retailer in the State of California and we look forward to opening more locations soon,” said One Plant CEO, Adam Wilkes. “But today it is all about Antioch. We are extremely excited to open our Bay Area flagship property and expect it to be a market leader in the California cannabis industry.”
The Antioch location occupies a footprint of more than 6500 sq. ft., divided between retail and back-office operational support. The size and location will provide significant operational support for the Company’s e-commerce and delivery initiatives. In addition to being a flagship for retail outlet for One Plant, the Antioch location will support the online and delivery fulfillment for the Bay Area market as well as provide necessary infrastructure for the increasing delivery services provided by existing and future locations. The division between back office and store is modular and can easily be adjusted to expand the retail space as revenues grow.
Of the seven dispensaries contributed to Captor Retail Group by Three Habitat, the retail locations in Antioch, Salinas, Atwater, and El Sobrante are licensed and open for business. The locations in Goleta, Lompoc, and Palm Springs, are expected to be operational in Q1 of 2021. Combined with the two Chai locations, this bring the total number of dispensaries to nine, making Captor Retail Group one of the largest cannabis retail operators in California.
About Captor Capital Corp.
Captor Capital Corp. is a Canadian vertically integrated cannabis company listed on the Canadian Securities Exchange, and the Frankfurt and Stuttgart stock exchanges. Captor provides recreational marijuana products to consumers, as well as other high demand cannabis-based goods. 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 assets including a majority ownership stake of Captor Retail Group Inc. The Company also owns Mellow Extracts, with a launch date to be determined.
Captor Capital Corp.
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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.