
TORONTO,
Sept. 17, 2021 – PRESS RELEASE – Captor Capital Corp. has entered into a
binding agreement to purchase a majority interest in a licensed dispensary
location in Pacifica, Calif. The Pacifica dispensary location, which is
approved for adult-use and medicinal cannabis as well as delivery, is slated to
become the 10th dispensary in Captor Capital’s California network, joining locations
in Antioch, Atwater, El Sobrante, Salinas, Castroville, Santa Cruz, Lompoc,
Goleta and Palm Springs. This location will be operated by Captor Retail Group
and the dispensary will become part of the One Plant brand.
“We
are excited about what the Pacifica location provides to our organization, as
it fits perfectly within Captor’s existing expansion plan,” Captor Capital CEO John
Zorbas said. “While we remain committed to maintaining growth by increasing
revenues across our network, we are always on the lookout for acquisition
opportunities and are confident this will prove to be a value acquisition that
will increase top-line revenue and net profit.”
Located
in San Mateo County on the Pacific Coast just 15 miles south of San Francisco,
with a population of approximately 800,000, the Pacifica dispensary will extend
the geographic reach of the One Plant brand. Strategically positioned, the
dispensary will provide Captor Retail Group with delivery reach into San
Francisco, Half Moon Bay, as well as throughout San Mateo and Palo Alto.
Construction is scheduled to begin in the coming week and Captor expects this
location to be operational prior to the end of 2021.
“We
look forward to adding this dispensary to our retail portfolio as we continue
in our quest to become one of the largest cannabis retailers in the state of
California,” Captor Retail Group CEO Adam Wilks said. “We believe consumers in
the Pacifica community will embrace One Plant’s standards for quality and we
are confident our brand selection will provide a broader variety than what is
currently available in the Pacifica market.”
Over
the past year, Captor Capital has grown from two to 10 dispensaries, of which eight
dispensaries are operational. The most recent addition to the network was One Plant
Goleta in May 2021. The Pacifica location joins Palm Springs as the second
dispensary under construction, with both scheduled to be open before the end of
2021.