DENVER--(BUSINESS WIRE)--PRESS RELEASE--MJardin Group, Inc. has announced the closing on Nov. 26, 2018 of a $6 million minority investment in OG DNA Genetics Inc., a cannabis company with operations in California, Canada and Europe. MJardin’s investment was part of a $35 million financing completed by DNA Genetics last week.
For over 15 years, genetics bred by DNA Genetics have won nearly two hundred awards around the world. DNA Genetics intends on using the proceeds from its financing 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.
MJardin’s investment provides the company with access to DNA Genetics’ vast library of award-winning cannabis strains and genetics for use throughout MJardin’s multi-country network of facilities. The investment also provides MJardin with exposure to the brick and mortar cannabis retail market in California.
“DNA Genetics is a highly regarded cannabis brand globally with a presence in three of the largest cannabis markets in the world,” said Rishi Gautam, chairman and chief executive officer of MJardin Group. “We are excited to partner with DNA Genetics, which is a true innovator in genetics and breeding, as we grow our U.S. and international footprint.”
“MJardin is a highly experienced cannabis management company and a leading operator of cannabis assets throughout the supply chain,” said Charles Phillips, chief executive officer of DNA Genetics. “We are very pleased to partner with MJardin to further build out our California operations and to extend our reach into other U.S. and international markets through their large and diverse network of cannabis facilities.”
