Target Group To Acquire CannaKorp & WISP Pod Technology

CANADA: Target Group is acquiring CannaKorp’s operations in the United States and Canada. The acquisition will facilitate Target Group’s expansion of cannabis operations, and position the Company’s brand portfolio for global distribution. Target Group will continue executing its global expansion strategy, which is focused on acquiring and developing quality cannabis brands and solidifying long-term growth and stability in vital markets across the globe.

“The acquisition of CannaKorp will enable Target Group to enter all legal cannabis markets around the world, and to develop a centralized distribution channel for the WISP Vaporizer system, including centralized WISP Pod production. This acquisition also enables Target Group to provide the WISP and its WISP Pod technology to mainstream medical and recreational consumers, offering unprecedented variety through a break-through, consumer appliance experience that’s clean, convenient, consistent and easy to use.”, said Rubin Schindermann, Chief Executive Officer for Target Group.

Target Group Inc has identified a significant opportunity for growth within the wellness sector. Combining WISP natural herbal botanical pods with CBD (Cannabidiol), will allow WISP to develop a range of proprietary blends that will be available for sale within the broader American mass market immediately.

CannaKorp Launches Crowdfunding Campaign

MASSACHUSETTS: CannaKorp., the world’s first single-use, pod-based herbal vaporizer, announced today that it has opened its first crowdfunding campaign. This follows several successful fundraising rounds for the company, in which the company has raised over $7.5m.

Crowdfunding allows all of CannaKorp’s dedicated followers to participate in its funding and assist in its short-term launch goals.

The funds raised will be used for go-to-market activities including state-by-state rollout of the Wisp Herbal Vaporizing System, a home appliance that ensures the finest experience in converting natural botanical and beneficial herbal products into a vapor form, free of combustion, additives and without denaturing.

“We’re thrilled to open up our fundraising to the many interested investors that we’ve heard from,” said James Winokur, CannaKorp Co-Founder & CEO. “Our ‘Wellness Your Way’ platform, with the Wisp delivering a clean, convenient and consistent experience, has generated such tremendous feedback, we’re excited to offer an opportunity for the general public to join us on our journey.”

The first commercial launch of the Wisp system is expected to begin in April in Massachusetts and botanical herbal blend Wisp pods will be available nationally.

CannaKorp Webcast August 3

MASSACHUSETTS: CannaKorp makers of the world’s first single-use, pod-based cannabis vaporizing system, today announced that James Winokur, CEO, will present live at VirtualInvestorConferences.com on August 3, 2017.

DATE: Thursday,  August 3, 2017
TIME: 12:30 pm ET
LINK: https://tinyurl.com/0803prepr

This will be a live, interactive online event where investors are invited to ask the company questions in real-time – both in the presentation hall as well as the association’s “virtual trade booth.” If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.

It is recommended that investors pre-register and run the online system check to save time and receive event updates.

Learn more about the event at www.VirtualInvestorConferences.com.

 

CannaKorp Raises $5.7 Million In 2016

MASSACHUSETTS: CannaKorp, makers of the world’s first single-use, pod-based cannabis vaporizing system, announced today that it has successfully closed its Series A round of funding. The company raised a total of $4.1 million on a goal of $4 million. According to a company release, CannaKorp has now raised a total of $5.7 million in 2016, including a seed round earlier in the year that was also oversubscribed ($1.6M raised), making the company one of the most well-funded startups in the cannabis industry.

“Successfully oversubscribing both our seed and Series A rounds of funding demonstrates the confidence our expanding network of investors has in CannaKorp, and more broadly, in the rapidly growing cannabis industry,” said James Winokur, CannaKorp Co-Founder & CEO. “The excitement and momentum continues to build, providing a powerful tailwind for us as we go to market,” Winokur continued.

The funds raised will be used for manufacturing, enabling cultivator and dispensary partners, as well as go-to-market activities such as launching the CannaCloud™ in select markets later this year. The company’s rolling launch plan will bring the CannaCloud system to multiple states and cities in North America throughout 2017.

“CannaKorp is positioned to be a disruptive force in the booming cannabis industry led by one of the most impressive teams in the space,” stated Brett Rentmeester, President and Chief Investment Officer at Singularity Capital Management, and CannaKorp board member.

Singularity Capital Management, the lead investor in CannaKorp’s Series A round, is a private equity firm focused on the cannabis industry.

CannaKorp achieved significant milestones in 2016 such as completing early manufacturing stages, appointing several industry leaders to its board of advisors, and expanding its partner ecosystem in multiple US states and in Canada. “We are excited about introducing our CannaCloud in 2017,” Winokur said. “Thanks to our investors, the CannaKorp team is eager to put that capital to good use so patients and consumers, especially our faithful followers, can enjoy a more convenient, consistent and high-quality cannabis experience,” Winokur concluded.