TORONTO, Feb. 23, 2017 (GLOBE NEWSWIRE) -- Green Acre Capital (“GAC”) today announced the first close of Green Acre Capital Fund I, dedicated to investments in the Canadian legal cannabis industry. The Fund remains open and on pace to raise the targeted amount of $25 million in Q1 2017.
GAC is also pleased to confirm that Dragons’ Den veteran and co-founder of FirstEnergy Capital Corp, W. Brett Wilson, will be a lead investor alongside York Plains Investment Corp. and Aphria Inc. (TSXV:APH.V) (OtherOTC:APHQF). In connection with the investment, Wilson joins Shawn Dym, Managing Director of York Plains, Lorne Gertner, co-Founder of Tokyo Smoke and PharmaCan Capital (now Cronos Group) and Vic Neufeld, CEO and Chairman of Aphria on GAC’s board of advisors. The GAC team is led by Managing Directors, Matt Shalhoub and Tyler Stuart.
“We are excited to be partnering with such reputable and seasoned leaders and advisors. The addition of Brett is a big win for GAC. He is an incredibly savvy investor and entrepreneur who will bring a lot of passion to our team. We look forward to leveraging the experience and insight of our entire Advisory Board to deploy capital to the most compelling ventures across the cannabis value chain,” said Stuart.
“The legal cannabis market is inevitable and I feel this will be an intelligent place to deploy capital. The Green Acre Capital Fund is ahead of the curve in offering a product like this to investors. I intend to be an advocate for two main themes as I get involved in the industry. The first is to advance medical research initiatives on a plant that has been illegal to date. And the second is around responsible consumption, particularly for our youth,” adds Wilson.
The launch of the fund was announced in early 2017 with the goal of building a diversified portfolio of the most attractive cannabis investment opportunities across numerous verticals within the industry. “Canada is on the verge of what is sure to become a multi-billion dollar industry. We’re proud to be here early, and eager to shape the industry moving forward,” says Shalhoub.
Green Acre Capital is currently exploring early stage cannabis product, branding, research and technology investment opportunities in anticipation of the legalizing of the Canadian recreational cannabis market while building on the platform of investments in the medical marijuana space.
About Green Acre Capital
Green Acre Capital is a private investment fund focused on the Canadian medical and recreational cannabis industry with consideration for international opportunities. The Fund plans to invest in multiple sectors of the cannabis value chain, and to create an eco-system amongst portfolio investments that will help fuel growth and innovation.
www.greenacrecapital.ca