TMCnet News
MJAR Holdings Acquires Intellectual Property Portfolio Related to the Cultivation of Premium Cannabis from MJardin ManagementMIAMI & DENVER --(Business Wire)-- MJAR Holdings, LLC ("MJAR"), a Miami, Florida-based company dedicated to acquiring, developing and licensing industry-leading intellectual property related to premium cannabis production, announced today that it has acquired a robust IP portfolio from MJardin Management, LLC ("MJardin Management"), a Denver, Colorado-based cultivation management company with significant experience developing and operating legal large-scale cannabis cultivation facilities. Financial terms of the transaction were not disclosed. MJAR's newly acquired portfolio, which has been developed and successfully deployed by MJardin Management in the cultivation of premium cannabis for more than four years, consists of proprietary cultivation processes, technologies, designs, formulas, systems, software, genetics, nutrient formulations, and other materials associated with large-scale premium cannabis production. MJAR will immediately monetize its portfolio by licensing the intellectual property to MJardin Management, which in turn will continue to provide and expand its turnkey cultivation management services to select third-party clients. In markets where MJardin Management does not operate, MJAR will directly license its IP to other licensed third-party cannabis producers on a selective basis. This approach will serve to broaden MJAR's ability to capitalize on opportunities in the rapidly expanding base of jurisdictions that are permitting the cultivation and distribution of medical and/or recreational cannais. Adam Denmark Cohen, MJAR's CEO and a co-founder of MJardin Management, remarked, "Legal cannabis is no longer a question of 'if' but 'when.' Today, we are operating in a multi-billion dollar industry that is sanctioned in one form or another by 23 states and the District of Colombia, with more states and countries expected to follow suit in the near future. As these regions begin to adopt rules that create markets for legal cannabis production and consumption, demand is driving licensed companies to establish large-scale, professionally managed cultivation facilities. To properly scale these facilities requires a strict focus on sound agricultural principles, operational efficiency, regulatory compliance, and quality control. MJAR's newly acquired IP portfolio provides best-in-class solutions to accomplish this." MJardin Management's executive team includes proven cannabis industry entrepreneurs who have been involved with Colorado's medical cannabis industry since its inception. James R. Lowe, co-founder and President of Cultivation Management, is a professional cannabis cultivator who has participated in the design, construction and/or management of more than 40 commercial medical cannabis facilities. John J. Fritzel, co-founder and President of Business Development, has founded and operated multiple well-known medical and recreational cannabis businesses and is a significant license holder in the State of Colorado. Commenting on the sale, Mr. Lowe stated, "Our strategic relationship with MJAR Holdings provides us with the flexibility needed to develop additional methods and technologies aimed at further refining the cultivation of the finest quality cannabis. Furthermore, the nature of the relationship enables us to continue to pursue new business opportunities while effectively serving our existing and quickly expanding multi-state client base." About MJAR Holdings, LLC MJAR Holdings is a Florida-based company dedicated to acquiring, developing and licensing industry-leading intellectual property related to the cultivation of premium cannabis, including proprietary processes, technologies, designs, formulas, systems, software, genetics, nutrient formulations, and other materials associated with large-scale premium cannabis production, as well as connoisseur consumer products. About MJardin Management, LLC MJardin Management is a Colorado-based operating company that provides select cannabis businesses across the United States with turnkey cultivation and processing management services, including facility design, licensing support, and the operational management required to produce premium cannabis and related products in large-scale and professional-managed facilities. MJardin Management currently services clients in Colorado, Arizona, Nevada, Massachusetts, Illinois and Florida.
|
