CALIFORNIA: Mentor Capital announced that its investment in G FarmaLabs Limited has increased to $2,700,000 following yesterday’s seventh investment tranche delivered to G Farma of $250,000 from Mentor for additional leased equipment and working capital. In addition to receiving consulting fees, repayment, interest, and lease payments, Mentor has captured a $1 option for a 3.75% equity interest in the G Farma Family of Businesses. Nicole Gonzalez, Founder of G FarmaBrands, comments, “With financial backing from Mentor Capital, G FarmaLabs has hit its benchmarks on the way to building cannabis efficient facilities and production lines.” Ata Gonzalez, Co-Founder of G FarmaLabs concludes, “Chet provides both money and a wealth of knowledge. We feel blessed to have this strategic relationship.”
“Mentor Capital focuses new investment from shareholders and other investors on larger cannabis companies, like G Farma, that have the potential to go public and who may be incubated by Mentor along that path,” explained Mentor Capital, Inc. CEO, Chet Billingsley. “We look to act as a holding company of operating entities, not an investment company, and have no plans to buy cannabis shares from the public market at normal market prices. However, on 24-hour notice and hence at a significant discount, Mentor will buy public shares from marijuana-related consultants, institutions, or accredited investors that Mentor has known for years.”
The Company reports that in the last two months, Mentor has increased its holding in SolisTek to 300,000 shares by the purchase of an additional 90,000 common shares. Mentor recently has purchased 400,000 shares of GB Sciences, Inc. plus an extra 400,000 of their warrants. Mentor also holds from earlier buying activity approximately a combined $240,000 in shares of GW Pharmaceuticals, Plc. and Kush Bottles, Inc.