LOS ANGELES, CA / ACCESSWIRE / April 9, 2019 / BANGI, Inc. (OTC PINK: COBI), a diversified investment vehicle that acquires and leases specialized real estate assets, such as cannabis farms, today announced that it has entered into a strategic alliance with Transatlantic Real Estate, LLC (www.transatlanticfarms.com) in order to further strengthen the Company's resources, access to a state-of-the-art real estate technology platform, increased shareholder base and intellectual capital to launch its anticipated cannabis real estate acquisition strategy. The strategic alliance's initial focus will be to acquire large multi-acre cannabis and hemp farms located in California, Michigan and Oregon. These initial targets are all licensed to manufacture, distribute and cultivate cannabis for both medical and recreational markets. Aerial footage of the California property can be found by visiting: California Cannabis Farm YouTube Video Link. Photos of the Michigan property can be found by visiting: Michigan Indoor Cannabis Facility.
Both entities will be seeking to raise capital for their future acquisitions through the Jumpstart Our Business Startups (JOBS) Act, which was signed by President Obama in 2012. A primary goal of the JOBS Act was to improve smaller companies' access to the public capital markets by amending a number of the provisions of the securities laws to ease the process and costs associated with raising capital from the public.
"Our strategic alliance with Transatlantic Real Estate will provide us with the industry specific intellectual capital and technological advantage to embark on additional acquisition opportunities that were not previously available to us," said Rick Shykora, Interim CEO of BANGI, Inc. " Through this alliance, we will be able to provide growth capital to licensed cannabis operators through alternative financing vehicles, such as our sale leaseback financing programs, which will provide operators with the capital needed to redeploy across their core operations, allowing them to expand at an accelerated rate.
In consideration for Transatlantic Real Estate's numerous contributions to this strategic partnership, BANGI will issue new restricted common stock to Transatlantic which will enable its approximately 2,000 investors to become BANGI shareholders through the conversion of their debt instruments. As a result of this transaction, BANGI will immediately add almost 2,000 new shareholders, which it believes will further increase liquidity in its stock while also making the Company more attractive to the investment community's larger institutional funds as well as support its efforts to up list to a more senior exchange.
BANGI (pronounced bon-ghee), which means "marijuana" or "hemp" in the African dialect Swahili is a diversified investment vehicle that acquires, and leases specialized real estate assets, such as cannabis farms. Corporation combines hard asset security and long-term appreciation potential.
BANGI, Inc. Forward-Looking Statements
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Dr. Neil Parsan
SOURCE: BANGI, Inc.
View source version on accesswire.com: