TORONTO, Feb. 05, 2021 (GLOBE NEWSWIRE) — Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMV; STUTTGART: NMVA), (“Captor” or the “Company”), one of the largest cannabis retail operators in Northern California, is very excited to announce the launch of its own cannabis product line, Wollem, through their Mellow Extracts (“Mellow”) business unit. The Wollem brand will provide consumers with high end products at competitive prices. The arrangement will benefit both the Mellow and Captor Retail Group (“CRG”) business units – providing Mellow with a consistent source of manufacturing contracts, while providing CRG’s One Plant dispensaries with high margin product offerings.
“With six dispensaries already operational and another three scheduled to come on line this quarter, it is the perfect time to release our own line of cannabis products,” said Captor Capital CEO, John Zorbas. “We have an excellent reputation for providing the best product at very competitive prices and we are confident our Wollem-branded cannabis products will benefit from that reputation, while also strengthening it. Leveraging our industry relationships and cultivation partners, we will be able to offer high end flower at an economical price point, passing along value to our consumer.”
The Wollem line will include premium, packaged flower, pre-rolls, and a full line of concentrates – shatter, diamonds, live resin, and vape carts. Pre-rolls and concentrates are first due to hit shelves, with dried flower expected to be added to the roster shortly after. Pre rolls, concentrates, and dried flower will be priced in a range that will be competitive with other area dispensaries, while standing out in quality.
“CRG is among the largest and most successful cannabis retailers in Northern California largely because of our reputation for carrying the best products and we could not be more excited to be the first to bring the Wollem brand to the market. We know Wollem represents our passion for the cannabis plant and we can’t wait to share it with our customers.” stated CRG CEO, Adam Wilks. “The economy has effected household incomes across California and we are bullish Wollem will provide product offerings that will appeal to both to cannabis connoisseurs and value-seeking consumers.”
Wollem products will be rolled out at all of CRG’s One Plant and Chai Powered by One Plant locations. Selling the brand throughout the state of California remains the focus, but the Company believes the competitive advantage of premiering this high end, well priced product line only at CRG locations will provide the product with an impactful introduction to the market and build positive brand awareness.”
“We know Wollem was founded on the principle of sourcing the best product at the best price and we are confident this will be reflected in product sales,” said Matthew Emory. “With the increasing number of dispensaries opening, it is important One Plant continues to build on our reputation for providing diverse product offerings. Having an exclusive high-end brand is a great way to launch locations and while continuing to expand brand awareness.”
All CRG dispensaries remain open for business as the cannabis industry has been designated an essential business by the Government of California. Several changes have been made to enhance overall safety in the retail stores and CRG continues to invest in their e-commerce platform, providing consumers the ability to order ahead and expanding express checkouts for pre-orders. Consumers are able to benefit from CRG’s extensive online menu and speedy delivery service. Both the e-commerce platform and delivery service have seen significant increases in orders during the pandemic.
Captor Retail Group recently announced the opening of the flagship One Plant retail location in Antioch, California. The 6500 sq. ft. dispensary became CRG’s sixth operational dispensary, joining One Plant locations in Salinas, Atwater, and Contra Costa, along with Chai Powered by One Plant dispensaries in Santa Cruz and Castroville. The locations in Goleta, Lompoc, and Palm Springs, are expected to be operational in early 2021. This will 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, through which it will be selling its own branded line of cannabis products, Wollem.
Captor Capital Corp.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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.
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