ManifestSeven (“M7” and formerly known as MJIC), California’s first integrated omnichannel platform for legal cannabis, today announced the acquisition of Lady Chatterley Health, a San Francisco-based legal cannabis delivery service focused on high-end women’s products.
The company will be integrated into M7’s retail arm Weden, which has storefront and delivery operations across the state. The acquisition also gives M7 direct entry into the San Francisco market, complementing its licensed operations in Oakland and Brisbane.
“M7’s acquisition of Lady Chatterley Health is an enormous growth opportunity in a critical market, allowing us to directly service more than 640,000 residents over the age of 21, as well as the tens of millions of visitors who come to San Francisco every year,” said Pierre Rouleau, Chief Operating Officer of ManifestSeven. “Delivery is a cornerstone of our range of services, and this highly-scalable asset further expands our reach across California.”
Founded in 2015, Lady Chatterley Health has established a robust database of active retail customers in the highly-coveted Bay Area market, many of whom are women. This acquisition also broadens the market reach of M7’s subsidiary MyJane, created by women, for women, and specializing in curated product boxes.
“We’re thrilled to be joining with M7, a market leader that will allow Lady Chatterley Health to maximize our growth potential and continue to build on the exceptional service we offer,” said Stephen Kerford, Chief Executive Officer of Lady Chatterley Health. “Integrating into this powerful omnichannel platform also gives us access to a new universe of customers who’ll be able to access a wider variety of the safest, highest-quality cannabis products.”
Forward Looking Statements:
This press release may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding our business that are not historical facts are forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future results, performance, levels of activity or achievements, and actual results may differ materially from what is expressed or implied in any forward-looking statement. We caution you not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking.
ManifestSeven (“M7” and formerly known as MJIC) is the first integrated omnichannel platform for legal cannabis, merging compliant distribution with a retail superhighway. M7, based in Commerce, California, services the needs of lawful operators across the supply chain, from the cultivator to the consumer, through an expansive network of seven facilities stretching from the San Francisco Bay Area to San Diego. M7 further augments its business-to-business value proposition with a growing portfolio of owned and operated retail operations located in major metro markets, including brick-and-mortar dispensaries, local on-demand delivery services, e-commerce and subscription offerings.
As further described in M7’s April 10, 2019 press release, M7 has entered into a merger agreement with, among others, P&P Ventures Inc. (“P&P”), pursuant to which M7 will complete a reverse-takeover of P&P (the “Proposed Transaction”). Pursuant to the Proposed Transaction, the shares of ManifestSeven Holdings Corp., the resulting issuer of the Proposed Transaction, are expected to be listed on the Canadian Securities Exchange. Closing of the Proposed Transaction is subject to a number of conditions precedent, including regulatory approval. To learn more, please visit manifest7.com.
Copyright Business Wire 2020
Published at Mon, 13 Jan 2020 14:15:31 +0000