PALO ALTO, Calif., Oct. 18, 2017 (GLOBE NEWSWIRE) -- Plus, the cannabis infused products manufacturer, is pleased to announce the closing of its Series A financing (the “Financing”). The Financing was comprised of $2 Million USD of Series A Preferred Stock (the “Shares”), and was led by The Green Opportunity Funds (TGOF). Following the financing, Matt Schmidt of TGOF will join the Plus Board of Directors.
The net proceeds raised through the Financing will be used for general corporate purposes and for the development of an automated production line.
Plus launched its first product — Plus Gum — in 2016 and has since expanded its portfolio of cannabis products to include Plus Gummies. “Since launching Plus Gummies this spring, we have been overwhelmed with requests to continue to broaden our product line,” says Jake Heimark, CEO and cofounder. “We’re excited to explore new opportunities with the same emphasis on innovation, consistency and testing that we have applied to Plus Gum and Plus Gummies.”
“Our patent-pending production process reduces the taste and smell of cannabis in our products,” says Justin Gwin, Chief Research Officer. “Our team is thrilled at the opportunity to continue to develop techniques and products that improve how consumers experience cannabis.”
“We are at an inflection point in the cannabis industry in California as recreational sales are set to begin next year,” says Matt Schmidt, President of TGOF Corp. “New consumers are starting to enter the market, and Plus has already demonstrated they have the right product portfolio to cater to these new entrants. I’m thrilled to join the board as Plus continues to grow rapidly.”
About Plus
Plus is a cannabis infused products manufacturer that launched in 2016 with a focus on providing healthy, tested and consistent cannabis experiences. Since its founding in 2015, Plus has advocated the application of cannabinoids for medical treatment to increase the quality of life for medical patients within California.
This press release does not constitute an offer for sale in the United States. The offered Shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
MEDIA CONTACT:
Heidi Groshelle
Ingrid Marketing
Tel +1 415.307.1380
heidi@ingridmarketing.com
@heidigro
PLUS CONTACT:
ir@madebyplus.com