CALGARY, Jan. 11, 2018 /CNW/ - Target Capital Inc. ("Target", "CBi2" or the "Corporation") (TSXV: TCI) (CSE: TCI) is pleased to announce the formation and launch of CBi2's cannabis business accelerator program, MacaVerde, and the initiation of its inaugural Q2 2018 application process for all interested companies operating in the legal cannabis industry with applications due by March 31, 2018. Target, to be renamed CBi2 Capital Corp., will continue to focus on deploying capital to build a diversified and professionally managed portfolio of investments in the evolving global cannabis market.
MacaVerde is a business accelerator focused on developing & investing in products and services in Canada's upcoming legal cannabis industry. MacaVerde will provide capital, a 16-week business development and mentorship program, and critical knowledge of the industry in return for an equity interest in the applicant's business once accepted into MacaVerde (each accepted applicant, a "Participant") with the expectation that all Participants will have materially advanced their businesses by the end of the 16-week program. All graduate Participants will continue to be members of the MacaVerde ecosystem and will have access to the Corporation's mentor network and business logistic services. Beyond this, CBi2 will continue to support graduate Participants after the 16-week period by assisting them to secure additional growth capital, refine and execute on their business plans, grow organically and through strategic acquisitions, and position their companies for a successful exit or liquidity event.
All Participants will participate in an exclusive "Demo-Day" whereby MacaVerde will showcase the Participants to accredited investors highlighting their accomplishments during the 16-week intake with the intent of assisting them to identify additional growth capital.
Additionally, under the direction of Chad Oakes, a member of Target's board of directors, the Corporation is developing a cannabis investment focused television program that will showcase Participants to a panel of high net-worth investors and broadcast the Demo-Day as well as selected Participant pitches to a broad audience with the intention of capitalizing on the global interest in Canada's legal cannabis market. This television show is currently being marketed to leading broadcaster and global content streaming services.
MacaVerde is dedicated to partnering with highly competent entrepreneurs and assisting them in executing on their plans to build high-growth companies in the cannabis industry. MacaVerde's investment model prioritizes connecting its portfolio companies with experienced mentors, industry professionals, future MacaVerde alumni, and a broader cannabis investor network, including investor members of CBi2, other institutional funds, and industry-specific cannabis focused funds.
CBi2 intends to host MacaVerde accelerator programs in both Toronto and Vancouver.
About Target Capital Inc./CBi2 Capital Corp.
Target is a Calgary, Alberta based company engaged in making strategic investments in private companies, including small start‐up operations and land development corporations. The Corporation's common shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol "TCI". Target is executing on a cannabis-focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. Target will explore and invest in a number of strategic investment opportunities in the medical and recreational cannabis industry and in businesses offering ancillary supportive products and services. Upon receipt of shareholder approval, Target will change its name to "CBi2 Capital Corp.".
MacaVerde is a business accelerator developed by CBi2 with a view to investing in companies developing products and services for the legal cannabis industry. Companies will be handpicked to receive capital and participate in an intensive 16-week accelerator program. CBi2's advisors and mentors will work closely with each company to define business models, refine unique selling propositions, and focus marketing and fundraising activities.
The MacaVerde investment model prioritizes connecting its portfolio companies with experienced mentors, industry professionals, future MacaVerde alumni, and a broader cannabis investor network, including investor members of CBi2, other institutional funds, and industry-specific cannabis focused funds.
Interested applicants can view the application and program details on CBI2.com/MacaVerde. Applications can be made through our website for the Q2 2018 intake starting on February 1, 2018 and remain open through March 15, 2018 with the inaugural class beginning the 16-week boot camp on April 20, 2018.
Forward-Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, and, more particularly, statements concerning: Target's corporate strategy and plans and the ability to exercise thereon; MacaVerde and expectations with respect to the treatment of Participants; and Demo-Day, including the telecasting thereof.
When used in this document, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "upcoming," "should," and similar expressions are intended to be among the statements that identify forward-looking statements.
The forward-looking statements are founded on the basis of expectations and assumptions made by Target. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Target believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.
Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Target with securities regulatory authorities.
Except as required by applicable laws, Target does not undertake any obligation to publicly update or revise any forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Target Capital Inc.
For further information: Sonny Mottahed, Chairman, President and Chief Executive Officer or Bill Macdonald, Executive Vice President - Corporate Development, Target Capital Inc. (d.b.a. CBi2 Capital), Suite 300, 407 - 3rd Street S.W., Calgary, Alberta T2P 4Z2, Phone: (403) 351-1779