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New York Medical Cannabis License Owner Raises $6.5 Million

May 14, 2018

 

New York, NY -- May 14, 2018 -- /D.M.O. Newswire/ -- Gloucester Street Capital ("GSC" or the "Company"), an owner of one of only 10 medical cannabis cultivation and dispensary licenses in New York State, has closed a $6.5 million growth capital round. Viridian Capital Advisors ("VCA"), through its broker dealer Pickwick Capital Partners, LLC, a Member of FINRA/SIPC, served as the placement agent for the Company.

 

With the third largest population in the U.S., New York State is expected to have among the largest medical cannabis markets in the country. Gloucester Street Capital’s vision is driven by science, from the design of its facilities to the products it creates. The Company’s mission is to bring its proprietary manufacturing processes, compassionate patient care delivery systems, and go-to-market strategies to the production and delivery of pharmaceutical-grade medical cannabis.

 

Mr. Stephen Ashekian, GSC's CEO, added, “Working with Viridian Capital Advisors provided us the necessary insight into the cannabis capital markets and the relevant deal valuations and structures for our business, which helped to drive the right transaction for our shareholders. We valued their guidance throughout this process.”

 

Scott Greiper, President of Viridian Capital Advisors, commented, “Gloucester Street Capital’s team, led by CEO Stephen Ashekian, has more than 50 years of combined experience in the business, healthcare, and medical cannabis industries, both in the U.S. and Israel. Their expertise spans cultivation, Good Manufacturing Practice (GMP) production, research, patient care, brand development, operations, and security. We are pleased to have assisted in a successful transaction for the Company.”

 

About Viridian Capital Advisors, LLC

 

Viridian Capital Advisors (www.viridianca.com) is a financial and strategic advisory firm dedicated to the cannabis market. We are a data- and market intelligence-driven firm that provides investment banking, M&A, corporate development, and investor relations services to emerging growth companies and qualified investors in the cannabis sector. Our banking practice, through broker-dealer Pickwick Capital Partners, LLC (Member FINRA/SIPC), provides capital and M&A to fund the growth of our clients, while our advisory practice helps to position and build their businesses. Our team’s decades of high level operating and transactional experience on Wall Street in a variety of emerging sectors, allows Viridian to provide comprehensive strategic and financial solutions that assist cannabis enterprises in realizing their full potential.

 

About Pickwick Capital Partners, LLC

 

Pickwick Capital Partners (www.pickwickcapital.com) is a FINRA-registered broker-dealer headquartered outside New York City, with more than 70 professionals across the United States. The firm provides investment banking services such as capital raising and M&A to lower-middle-market companies, as well as capital-raising services to hedge funds, venture capital funds, and private equity groups.

 

Notice

 

Marijuana remains illegal under federal law. The Federal Government does not recognize marijuana to have any medicinal values. Marijuana cultivation, possession, consumption, sales, and distribution are illegal under federal laws and also certain state laws. Please note that there are differences in marijuana laws from one state, county, or city to another.

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.