Tenacious Labs and Artemis Growth Partners Join Forces to Create Europe’s Largest Cannabis Investment Platform

• New collaboration, Artemis Tenacious Group, aims to provide a turn-key solution for cannabis investors looking to gain exposure to the rapidly maturing multi-billion-dollar global cannabis market.

• Private office for Bacardi family member joins the family of Duty Free Shoppers founder in making a significant strategic investment in the management company of Artemis Growth Partners, Europe’s largest cannabis investment fund manager.

• Transaction reflects pivotal moment for the maturing cannabis market as legacy players from complementary non-cannabis industries pool resources and operational expertise to invest in legal global cannabis.

LONDON, 31st March 2024: Artemis Growth Partners, one of the leading global private equity investment managers in cannabis, announces today a significant minority investment from the private office of Bacardi shareholder, Adrian Clarke. 

The investment in the global funds manager Artemis Growth Partners is part of a broader transaction that creates Europe’s largest cannabis investment platform to be named Artemis Tenacious Group.

The newly formed Artemis Tenacious Group, led by Clarke, Nick Morland, CEO of Tenacious Labs, William Muecke, and Stanton McLean, both managing members of Artemis Growth Partners, is a strategic union combining the operational and stakeholder management expertise of Tenacious Labs with the investment expertise, performance track record, and broad cannabis network held by Artemis Growth Partners, one of the world’s largest and most reputable private equity investors in legal global cannabis.

The investment by Clarke, in conjunction with additional major capital support by the private offices of the family to luxury goods global retailer Duty Free Shoppers founder and philanthropist, the late Chuck Feeney, expands the partner capital base of the investment manager and bolsters Artemis Growth Partners’ leadership position as an ESG impact investor in legal global cannabis.

Adrian Clarke, chair of Tenacious Labs, said: "We're delighted to announce our partnership with Artemis Growth Partners. Our deal brings together dynastic knowledge from adjacent, non-cannabis industries into one consolidated global operating platform that will deliver the best of both Tenacious Labs and Artemis Growth Partners to cannabis operators and investors, alike.  The formation of Artemis Tenacious Group marks a pivotal moment where premium non-cannabis independent investors and stakeholders are joining forces to onboard the rapidly growing cannabis industry into the mainstream."

William Muecke, co-founder and chief investment officer of Artemis Growth Partners, said: "With Tenacious Labs joining us under the Artemis Tenacious Group banner, we add an operational string to our bow as a fund manager and as an investor.  For the founders, entrepreneurs, and management teams of our investment portfolio companies, the venture with Tenacious Labs broadens our offering of portfolio management services, including customized technical assistance, on-tap experienced advice, and hands-on operational support.  For our investors, we believe that the enhanced capital resources and dedicated operational services of Artemis Tenacious Group reduces overall operational risk while enhancing our portfolio investment returns across all six of our managed equity and debt investments funds.”

Nick Morland, chief executive officer of Tenacious Labs said: The creation of the Artemis Tenacious Group investment platform is symptomatic of a step-change in the industry in recognition of its bright future going into an exciting geo-political climate in which approximately 40% of the worlds voting population go to the ballot box in 2024.”

Stanton McLean, managing partner of Artemis Growth Partners, said: “The new Artemis Tenacious Group vehicle is a multi-variable value creator providing investors the world’s leading one-stop-shop for exposure in the legal cannabis private and public capital markets, globally.  We look forward to capitalizing on the opportunities that the Artemis Tenacious Group partnership will undoubtedly bring to all of our stakeholders, partners, and investors across the cannabis industry. With continuing regulatory reform, and broad public market support for widespread legalization, we believe the future of cannabis investing is very bright.”

For more information, please contact Andy Cutbill of Cutbill Jacoby on +44 (0)7841 576000 or at andy.cutbill@cutbilljacoby.com

 END

About Artemis Growth Partners

Artemis Growth Partners specializes in ESG and impact investing within the global cannabis industry. The business offers investment strategies in medical cannabis for the EU and UK markets, and diversified investments in the US. Founded in 2017, Artemis Growth aims to pioneer ESG principles in cannabis. Its portfolio of 39 companies spans North and South America, the Caribbean, the UK, and the EU, focusing on regenerative practices and improving stakeholder outcomes. The management company of Artemis oversees five equity investment vehicles and one debt fund which, in the aggregate, exceed USD $400 million in discretionary assets under management. For more information visit www.artemisgrowth.com.

About Tenacious Labs

Tenacious Labs is an international consumer products group, led by co-founders Nick Morland and Adrian Clarke, focusing on the global cannabis market, and behind such brands as Hoorah, Press Pause and Walker & Morland. A Delarki investment company, Tenacious Labs is dedicated to fostering trust and clarity in cannabinoid usage, and championing scientific rigor, effective regulation, and superior product quality. Tenacious Labs’ mission is to become the premier consumer-centric cannabinoid company worldwide. The business’s diverse brand portfolio is propelling the global regulated cannabinoid sector's growth, evolving with customer insights to continuously improve our product offerings. For more information visit www.tenacious-labs.com.

About Delarki

Delarki is a private office creating, operating, and investing in early-stage, discretionary-spend business opportunities. It specialises in emerging premium Food & Beverage (F&B) categories and sources investment opportunities in the space by aligning its deal pipeline with global consumer and market trends. Led by Principal Adrian Clarke and Managing partner Nick Morland, Delarki has invested in a number of businesses in recent years and has created two start-ups of its own: Axia, an extra dry Mastiha spirit from Chios, Greece, and Tenacious Labs, the consumer products group. For more information visit www.delarki.com.

Organigram Announces C$124.6 Million Investment from BAT and Creation of "Jupiter" Strategic Investment Pool

• Organigram and BAT deepen partnership through C$124.6 million investment with 38.7 million shares to be issued over three tranches

• Organigram to use C$83.1 million of the investment to create “Jupiter,” a strategic investment pool designed to expand Organigram’s geographic footprint and capitalize on emerging growth opportunities

• C$41.5 million of the investment will be used for general corporate purposes

• Investment enhances strategic Product Development Collaboration between BAT and Organigram, which focuses on cutting-edge R&D and product innovation

• BAT to increase voting Common Share ownership position to 30% and overall equity interest to 45% (including non-voting Class A Preferred Shares)

TORONTO — Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce a C$124.6 million follow-on strategic equity investment from BT DE Investments Inc., (the “Investment”), a wholly-owned subsidiary of BAT (LSE: BATS and NYSE: BTI) (“BAT”), a leading, multi-category consumer goods business with a purpose to build A Better Tomorrow.™

“We are excited to bring this transformative transaction to Organigram’s shareholders, reinforcing our commitment to delivering shareholder value. This investment bolsters an already strong balance sheet and solidifies our position as a leading cannabis company. In addition, this deepens the strategic partnership between Organigram and BAT, and we look forward to continuing to leverage BAT’s global capabilities and scientific expertise,” said Beena Goldenberg, CEO of Organigram. “Jupiter, the strategic investment pool, is expected to accelerate Organigram’s ambitious growth plans, enabling further geographic, technological and product expansion.”

Strengthening Organigram’s Position to Deliver Results

This investment will not only allow Organigram to deliver on its stated ambition to extend its footprint beyond Canada, but also strengthens its financial position for long-term, sustainable growth. This further enables Organigram to invest in growing the topline of its core business, while optimizing operations to deliver on cost saving efficiencies, thus accelerating earnings growth. The flexibility afforded to the Company by this investment will provide incremental capital to Organigram to pursue new opportunities and expand on existing initiatives aimed at fueling net revenue growth and achieving EBITDA objectives.

Through this investment, Organigram aims to capitalize on its state-of-the-art facilities, support further workstreams in R&D and product development and deliver impactful product launches. As a result of this, Organigram is poised to deliver further market share gains in this rapidly consolidating market where the Company was able to achieve a #2 market position in Canada over the last two months1.

Building on the Foundations of the Product Development Collaboration (PDC)

Since March 2021, Organigram’s partnership with BAT has gone from strength-to-strength, most significantly the progress achieved as part of the PDC agreement. Organigram’s commercial business is already seeing significant benefits both from a scientific development standpoint and in terms of revenue driving product capability.

This transaction furthers BAT’s support of Organigram as a trusted partner and accelerates the focus on innovative cannabis science and R&D outside of combustibles. The PDC is now in late-stage development of a suite of emulsions, novel vapour formulations, flavour innovations, and packaging solutions which are planned to be applied to certain products within Organigram’s portfolio in calendar 2024. We expect these innovations to deliver market share and revenue growth for Organigram, appealing to a broad range of adult consumers seeking new, progressive cannabis formats with efficacious results.

“Jupiter” Strategic Investment Pool Will Accelerate Organigram’s Growth Ambitions

The majority of the C$124.6 million investment will be used by Organigram to create a strategic investment pool, named Jupiter. Jupiter will target investments in emerging cannabis opportunities that will enable Organigram to apply its industry-leading capabilities to new markets. Management has identified that geographic expansion is a strategic priority and this opportunity presents the Company with the capital to lay global foundations as the legal recreational cannabis market continues to see significant growth. Organigram maintains the highest level of regulatory and product stewardship and will continue to monitor the cannabis regulatory environment carefully. As a result, all potential investments will undertake rigorous legal compliance and due diligence processes.

“The opportunity set within the cannabis space has grown significantly since our initial collaboration with BAT in March 2021 and the category continues to expand globally as more adult consumers incorporate cannabis into their lives. The competitive nature of the industry also means that the opportunity for investments is ample for companies with strong balance sheets, industry experience and a proven track record of M&A success,” said Paolo De Luca, Chief Strategy Officer of Organigram. “Organigram’s expertise and continued success in the cannabis industry means that we are well placed to bring best-in-class capabilities to the investment sourcing and due diligence process, as well as post-deal integration. All investments will be considered with Organigram’s long-term strategic vision in mind and with the goal of delivering incremental value to both the Company and our shareholders.”

SOURCE: Financial Post

France’s Government Takes Major Step Towards Medical Cannabis Generalisation

Following months of uncertainty and doubt, thousands of medical cannabis patients in France can now breathe a sigh of relief after the government finally confirmed that access to their treatment will continue.

On Monday, October 23, the government tabled an amendment to the Social Security Financing Bill (PLFSS) concerning medical cannabis, bringing it into France’s general medical framework for the first time.

Now, according to the new proposals, medical cannabis products will receive a ‘temporary authorisation’ for five years, with scope for these to be renewed by French authorities indefinitely.

Benjamin-Alexandre Jeanroy of Paris-based Augur Associates told Business of Cannabis that while this represents a step towards fully-fledged generalisation, it ‘is a very important step because it brings medical cannabis into general law’.

“That is a huge victory in itself…While it’s still hard for patients, who still have to try every other treatment before being prescribed, it’s now part of the tool box for doctors to prescribe and patients to access.”

He added that once both chambers pass the PLFSS, there will be the capacity to start building a medical cannabis industry in France as pre-redacted ministerial decrees are expected to be published in the in the aftermath.

What Happened?

France launched its medical cannabis experiment in 2021, offering around 3,000 patients free cannabis products with an initial intended run-time of two years.

The trial was intended ‘to evaluate, in a real situation, the recommendations of the committee in terms of prescribing and dispensing conditions and the adherence of health professionals and patients to these conditions’, providing safety and efficacy data as a ‘secondary objective’.

Patients and industry stakeholders alike had expected that the experiment would be a near certain precursor to full regulation, yet with the experiment due to come to an end in March 2024, any mention of this was excluded from France’s PLFSS when it was published last month.

Following considerable pushback from the industry amid fears that not only would the thousands of patients lose access to their medicine, but also that the medical cannabis programme would be dead in the water, France’s Minister of Health confirmed in mid-October that the government would table an amendment to the bill which would address the issue.

The Amendment

This amendment was tabled last week, providing plans for a temporary status for medical cannabis products. Here are the key points:

• Medicinal products containing cannabis will now be subjected to a ‘temporary authorisation’ for five years, with the potential to be renewed by the ANSM in further five-year periods.

• Products will be authorised on a case-by-case basis.

• As mentioned earlier in October, generalisation will not take place before January 2025, pending a decision by European authorities.

• When the current experiment comes to an end in April 2024, there will be a maximum ‘transition period’ of nine months, by which time generalisation is expected.

• The government has set aside a budget of €10m for this transition period, which will enable patients to continue accessing their medicines and being reimbursed. This is five times the current budget for the experiment.

• After generalisation, access to cannabis for medical use will continue to be restricted to a last-resort treatment, and it can only be prescribed in hospitals.

• Prices for each product are yet to be determined, but will take into account prices across European countries of a comparable market size.

• The criteria for prescription of medical cannabis will be set subsequently by decree following an upcoming proposal from the ANSM.

• Flowers and other inhaled forms of cannabis products will be excluded.

While the move has been widely welcomed by the industry, which has rightly attributed the amendment to continued pressure from campaign groups, a number of key questions remain.

Primarily, campaigners have questioned why access remains so restrictive for patients, who need to have tried all other avenues of treatment before they can be considered for medical cannabis.

Furthermore, as no budget has yet been set for the generalisation, many have questioned whether reimbursement will continue as it has with the experiment.

French drug policy reform group L360 also raised concerns regarding data protection, as the current text says that companies supplying medical cannabis to patients must collect data on patient consumption and their reaction to treatment.

SOURCE: Business of Cannabis - Ben Stevens

Bloomwell Group Awarded With Best European Cannabis Company at 2023 Benzinga Cannabis Awards

The prestigious Benzinga Cannabis Awards, now in their second year, were recently unveiled during the Benzinga Cannabis Capital Conference held in Chicago on September 27-28. These awards serve as a beacon, illuminating the luminaries of the cannabis industry—individuals and entities whose contributions span a wide spectrum, encompassing trailblazing innovation and tireless advocacy across sectors such as media, technology, research, and beyond.

The notable recipients of this year’s awards include:

Best European Cannabis Company: Bloomwell Group

SOURCE: Benzinga

Landmark Marijuana Financing Bill Clears Big Hurdle in The Senate

A new bill that aims to give the marijuana industry access to banking services moved forward in the Senate on Wednesday.

The Secure and Fair Enforcement Regulation Banking Act was introduced by a bipartisan group of senators last week. The bill would provide legal protection to banks or other financial institutions that offer services to state-legal marijuana businesses.

The Senate Banking Committee voted 14-9 to advance the measure to the full chamber’s floor.

Sen. Jeff Merkley, an Oregon Democrat and lead sponsor of the bill, called its passage a “historic moment” and an “example of significant bipartisan cooperation.”

“Forcing legal businesses to operate in all-cash is dangerous for our communities; it’s an open invitation to robberies, muggings, money laundering, and organized crime—and the only people benefiting from the current system are criminals,” said Merkley in statement.

“I am committed to building bipartisan momentum to finally get a bill signed into law that ends the cannabis cash economy and improves public safety across the nation,” he added.

The bill is also being led by Steve Daines, R-Mont.; Kyrsten Sinema, I-Ariz.; and Cynthia Lummis, R-Wyo., as well as Majority Leader Chuck Schumer, D-N.Y.

“This legislation will help make our communities and small businesses safer by giving legal cannabis businesses access to traditional financial institutions, including bank accounts and small business loans,” the senators said in a joint statement last week.

“It also prevents federal bank regulators from ordering a bank or credit union to close an account based on reputational risk,” they added.

Even as 39 states have legalized marijuana for recreational or medical use, the sector has struggled to scale. Marijuana’s classification as a Schedule I substance, or one with no currently accepted medical use and a high potential for abuse, along with federal prohibition, pose a risk to banking institutions. This, in turn, has limited access to financing and a broader market.

Moreover, without access to financial services, state-legal cannabis businesses are forced to operate their businesses solely using cash, which can result in robbery, money laundering and organized crime.

Due to the opening of new adult-use markets in individual states, combined U.S. medical and recreational cannabis sales are expected to reach $33.6 billion by the end of 2023, according to analysis from the MJBiz Factbook from industry news outlet MJBizDaily.

The landmark vote Wednesday marked the first time the Senate has considered the legislation. An earlier version of the bill, the SAFE Banking Act, passed in the House seven times previously but has never advanced through the Senate under both Democratic and Republican control. Late last year, lawmakers excluded it from a $1.7 trillion government funding bill.

The bill may face a tougher path to passage if it ends up before the GOP-controlled House.

“I think it probably passes the banking committee, but I think it doesn’t go anywhere in the House,” said Ian Katz, an analyst with Capital Alpha Partners who covers banking and financials.

“Republicans seem to be souring on it,” he added.

The new bill includes stricter requirements for federal regulators, such as prohibiting them from terminating any marijuana-related accounts without “valid reason,” or from denying banking services based on “personal beliefs or political motivations.”

SOURCE: CNBC

US Health Department Recommends Looser Restrictions on Cannabis

The US Department of Health and Human Services has called on the Drug Enforcement Agency (DEA) to loosen federal rules on cannabis.

The drug is illegal at the federal level despite 40 of 50 US states having passed laws legalising its use in some form.

Cannabis is currently listed in the same class of drugs as heroin and LSD.

If the DEA changes its classification, it could mark the most significant shift in US drug policy in decades.

Cannabis is currently classified as a schedule 1 drug under the Controlled Substances Act, meaning it has no medical use and a high chance of abuse.

The change to schedule 3 would align it with drugs listed as having a low potential for dependency and abuse. Ketamine, anabolic steroids and drugs containing up to 90 milligrams of codeine per dose fall under that classification.

Last year, President Joe Biden asked his attorney general and health secretary to oversee a review on whether cannabis should be listed as a less serious drug.

The proposal was presented to the DEA by the Department of Health and Human Services (HHS) on Tuesday.

"As part of this process, HHS conducted a scientific and medical evaluation for consideration by DEA," the agency said in a statement.

"DEA has the final authority to schedule or reschedule a drug under the Controlled Substances Act. DEA will now initiate its review."

The HHS, in its statement, said "this administrative process was completed in less than 11 months, reflecting this department's collaboration and leadership to ensure that a comprehensive scientific evaluation be completed and shared expeditiously".

The recommendation stops short of removing cannabis from the Controlled Substances Act's list altogether. Some advocates have pushed the administration to de-schedule the drug, meaning repeal it from the Controlled Substances Act and regulate it in the same way as alcohol or tobacco.

Rescheduling it could open it up to further research and allow banking in the cannabis industry to operate more freely. Currently, most marijuana businesses in the US are forced to operate in cash, due to tax laws banning banks from handling money generated from certain drug sales.

Public opinion polling indicates that a majority of Americans support some form of legalisation of the drug.

Cannabis is legal for adult recreational use in 23 states, including all west coast states and in Washington DC. It is permitted for medical use in 38 states.

SOURCE: BBC NEWS

German Cabinet OKs Landmark Bill Over Legal Cannabis Use

BERLIN, Aug 16 (Reuters) - Germany's cabinet passed a contentious bill on Wednesday to legalize recreational marijuana use and cultivation, one of the most liberal cannabis laws in Europe that could potentially provide further momentum for a similar worldwide trend.

The legislation, which still has to pass parliament, would allow adults to possess up to 25 grams (0.88 oz) of the drug, grow a maximum of three plants, or acquire weed as associates of non-profit cannabis clubs.

The centre-left government of Chancellor Olaf Scholz hopes the law will curb the black market, protect consumers against contaminated marijuana and reduce drug-related crime.

A key pillar of the plan, which removes the taboo around cannabis use, is also a campaign to raise awareness about the risks, which should ultimately curb consumption, said Health Minister Karl Lauterbach, of Scholz's Social Democrats (SPD).

Such a campaign would not gain the same level of attention if it were introduced without a change in the law, he said.

"With the current procedures we could not seriously protect children and young people, the topic has been made a taboo," Lauterbach told a news conference in Berlin to present the law.

"We have rising, problematic consumption, we couldn't simply allow this to go on," he said. "So this is an important turning point in our drug policy."

The number of adults in Germany aged between 18 and 25 years old that consumed cannabis at least once nearly doubled in 2021 from the previous decade to 25%, according to the health ministry.

Young adults are considered more vulnerable to the health risks of cannabis. The new legislation will limit the amount of cannabis young adults can buy to 30 grams a month, compared to 50 grams for older adults.

SOURCE: Reuters - Sarah Marsh and Andreas Rinke

Bloomwell Group Closes Multi-Million Euro Growth Capital Round with Leading US Venture Capital Investors, and Award-Winning Actor, Moritz Bleibtreu

One of Germany's leading legal medical cannabis companies secures significant funding from Artemis Growth Partners, Measure 8 Venture Partners, and a leading German family office.

Moritz Bleibtreu invests personally and joins the company's mission to de-stigmatize cannabis use for patients and for future adult-use consumers.

Multi-million Euro capital raise fully funds Bloomwell's current business operations and positions the Company for significant future growth.

FRANKFURT, Germany, Feb. 8, 2023 /PRNewswire/ -- Frankfurt-based medical cannabis holding company Bloomwell Group ("Bloomwell," "Bloomwell Group," or the "Company") has closed a significant multi-million Euro funding round led by Artemis Growth Partners ("Artemis"), a premier American investment fund specializing in impact investing across global cannabis markets. Also participating in this latest funding round are existing seed investor, Measure 8 Venture Partners ("Measure 8"), along with a German family office investing in medical cannabis for the first time, and award-winning, Germany-born film actor Moritz Bleibtreu. Existing Bloomwell investors committed new capital as reinvestment in support of the offering. The terms of the multi-million Euro financing are undisclosed.

As part of the transaction, Artemis co-founder and managing member William Muecke has joined the Company's advisory board and will serve alongside Bloomwell's current board representatives. Mr. Muecke was previously the global co-head of healthcare services in the healthcare investment banking group at Goldman Sachs and Co. With over 30 years of experience in global financial markets, Mr. Muecke is an expert in corporate finance, mergers and acquisitions, and private equity investing.

The large size of the investment and the marquee name recognition of the institutional capital now joining Bloomwell's investor group is a noteworthy endorsement of Bloomwell's success to date, as well as a statement of confidence in Bloomwell's management team, who has guided the Company to its leading market position in German medical cannabis. 

This latest investment provides Bloomwell with a fully-funded business model and positions the Company to continue to both increase current market share as well as prepare the business for the expected upcoming federal legalization of adult-use cannabis in Germany.

"We are pleased to be one of the very few select businesses who have been able to close funding in what has been a very difficult period in the private capital markets. Indeed, we are humbled to not only have the continued support of our existing investors but also to have been able to attract new lead capital from such a highly reputable group as Artemis, which is a statement of confidence and vision that we accept and embrace," said Niklas Kouparanis, Co-Founder and CEO of Bloomwell Group. "At Bloomwell, our patient-first approach and our unwavering quest for quality and service have guided us from inception to the leadership position we hold today in German medical cannabis. We believe it is this unrelenting spirit of quality and success that has attracted the world's best cannabis investors to our company, and we are pleased to have a fully funded business with significant opportunity and growth ahead of us."

"Germany is the most important European market for medical cannabis, and the country will become the world's largest Federally-legal domestic cannabis market when adult-use cannabis sales begin. We are excited to join Nik and the team as investors and supporters of Bloomwell's continued growth and success, and we believe that Bloomwell is the best-positioned independent German medical cannabis business operating today. We believe the leadership that Bloomwell has shown in the German market will translate into an expanding growth story across Europe, and we enthusiastically join the Company's board to help guide the Company on its path forward. Among all global markets, Europe is the future for patient service, adult use access, and stigma-free acceptance of cannabis, and Germany is the engine powering the train in terms of responsible regulation, durable codification, and profitable growth in legal cannabis," said Mr. Muecke.

Alongside Artemis, a leading German family office has taken a meaningful ownership stake in Bloomwell and will bring its industrial non-cannabis network, and its operational and financial expertise to enhance and accelerate Bloomwell's growth. 

In addition, Moritz Bleibtreu is investing in the round and will also work alongside Bloomwell Group to advocate for the continued de-stigmatization of medicinal cannabis.

"Although the potential of the cannabis plant is far from being fully understood, there is now sufficient evidence to justify legalization and expanding consumer access. The cannabis plant can help many people advance their wellness goals. We should stop pigeonholing a plant on the basis of decades of antiquated prejudices," said Mr. Bleibtreu, who is one of Germany's most successful actors. Mr. Bleibtreu is a well-known German actor and public personality who achieved fame for his roles in classic movies such as Run Lola Run, The Experiment, Lammbock – Alles in Handarbeit, Elementarteilchen and Der Baader Meinhof Komplex. Mr. Bleibtreu received a Germany Television Award (The Deutscher Fernsehpreis) last year for his performance in the series Faking Hitler.

"We are very pleased that Moritz Bleibtreu, an accomplished actor with an international reputation, is joining our mission and offering financial support as we work to end the decades-long stigma of the cannabis plant and cannabis consumers. We can only succeed in changing public perceptions if we involve courageous personalities in the public discourse who will help to educate, promote the plant's potential benefits, and strengthen the spirit of the cannabis community," added Mr. Kouparanis.

SOURCE The Bloomwell Group

Jane Technologies, Inc. Raises $100M in Series C Funding

Funding will accelerate market expansion, company growth and product development to continue establishing the global cannabis industry's digital infrastructure

SANTA CRUZ, Calif., Aug. 25, 2021 /PRNewswire/ -- Jane Technologies, Inc. ("Jane"), the cannabis industry's leading e-commerce provider that created the first and largest online cannabis marketplace, today announced the closing of a $100 million Series C round of funding. The round was led by Honor Ventures with participation from Third Point Ventures, Gotham Green Partners, L2 Ventures, Delta Emerald Ventures and Artemis Growth Partners. Jane previously raised $30 million in funding, bringing the total amount of capital raised to roughly $130 million.

Jane's robust suite of business solutions and products empowers cannabis retailers and brands and improves consumer access to cannabis. Today, roughly 20% of all legal cannabis transactions in the U.S. are powered by the Jane platform, which catalogs 700,000+ SKUs across the industry.

Jane will use the additional funding to expand its digital footprint and grow its team across multiple areas of operations. The capital will also be used to further enhance existing software solutions and introduce new technologies to help bring large cannabis enterprises and small operators into the future of digital retail.

"The Jane team has worked diligently over the past few years to ensure we have the right foundation to take this next step in establishing the cannabis industry's digital infrastructure on a global scale," said Socrates Rosenfeld, Co-founder and CEO of Jane. "We don't define success by the amount of capital we've raised or the size of our team, but by the value we create for our dispensary partners, brand partners and consumers. This round of funding represents the beginning of the next chapter for Jane as we continue steadfast on our mission of empowering  local businesses while providing safe access to a plant that helps so many people around the world."

Strongly influenced by restrictions enacted during the pandemic, e-commerce sales in the U.S. grew more than 32% in 2020. The shift to online shopping continues in 2021 with digital orders accounting for nearly 20% of total retail purchases and driving 47.1% of all retail growth in Q1 2021. In the increasingly complex digital retail landscape, Jane's turnkey e-commerce platform empowers cannabis operators to create a personalized, automated and modern online presence capable of keeping up with consumer trends. Jane offers dispensaries real-time POS integration, inventory optimization, headless e-commerce solutions, retail and market analytics and curated content directly from the brands, while brands receive digital merchandising, (in)Direct-to-Consumer e-commerce solutions as well as consumer insights. Consumers also benefit from live updated menus, verified customer product reviews and tools to locate products from local dispensaries.

"Over the last 25 years I've spent working with e-commerce companies, few have become enduring global platforms," said Jeffrey Housenbold, Founding Managing Partner of Honor Ventures. "Jane has all the right ingredients to become the next eBay or Shopify. They are creating a win-win for all constituents in the ecosystem – brands, retailers and consumers all benefit from their platform and trust Jane to be the go-to service provider to build the future of cannabis commerce on a global basis. I'm excited to watch Socrates and his team build an amazing company, a great place to work and a trusted brand."

Just last month, Jane expanded outside of the U.S. for the very first time with its launch in Canada via cannabis retailer, High Tide. In June 2021, Jane released its new headless e-commerce solution, Jane Roots, which takes care of backend e-commerce infrastructure including integrations, data cleansing, personalization, reviews and automation. Jane Rootsenables retailers and brands to focus on designing the front-end user experience and updating content without losing backend code. Jane currently holds five software patents for their e-commerce automation technology they developed for brick and mortar retailers.

Some of the cannabis industry's leading multi-state operators and brands partner with Jane to power and manage their e-commerce platforms, including Green Thumb Industries, Columbia Care, Jushi Holdings Inc., Cresco, Kiva, Lowell Herb Co., Papa & Barkley and WYLD. This year, Jane is on pace to power more than 25 million orders and $3 billion in cannabis sales through their network of 2,100+ dispensaries and 300+ brand partners across 36 U.S. state markets and Canada.

SOURCE Jane Technologies, Inc.

JPMorgan Leveraged Finance Veteran Joins Artemis Growth Partners in Leadership Move to Booming Cannabis Industry

FOR IMMEDIATE RELEASE

April 28, 2021 (London) – One of the early architects of the European leveraged finance industry and 25-year career veteran of JPMorgan, E. Stanton McLean, is embarking upon a new chapter of his career.

McLean is joining the rising wave of traditional corporate leaders finding new wealth creation opportunities in the burgeoning field of global cannabis.

Building on a distinguished career in global finance, McLean is leaving his current position as managing director at JPMorgan to join Artemis Growth Partners, the leading ESG-focused investment platform dedicated to global cannabis.

McLean will work alongside William Muecke, general partner and co-founder of Artemis Growth Partners and himself a former veteran senior banker at Goldman Sachs & Co., as part of the private equity firm’s senior executive team in London.

McLean will expand the global private equity firm’s leadership group as Advisory Director where he will advise on all forms of capital markets activities including capital raising for investment vehicles and for portfolio companies worldwide, according to a statement. 

The new role will build on McLean’s capital markets placement experience and network of funding contacts that spans all levels of capital providers including banks and regulated financial institutions, hedge fund and specialty finance groups, private equity and venture capital firms, non-regulated financial entities, and family offices, among others.

“There are a number of similarities between what is happening in this space and what we saw as we were developing the European leveraged finance market in the early 2000’s,” McLean said in an interview. “Namely, rapid growth, long-term stability, and highly attractive economic rewards for those early market entrants.”

McLean’s leveraged finance career spans 25 years at JPMorgan where he held senior positions in sales and trading and debt capital markets.  

McLean began his career in credit origination and structuring, in New York, as part of JPMorgan’s Global Syndicated Finance Team in the mid-1990s and later moved to London in 2003 tasked with expanding JPMorgan’s European Leveraged Finance business, specifically to build out JPMorgan’s new issue distribution platform, taking over as Head of Secondary Loan Sales in 2009, as well. 

About Artemis Growth Partners.

Artemis Growth Partners is an alternative asset manager executing Environmental, Social & Governance (ESG) and impact investment strategies across its portfolio in the global cannabis industry.  

Artemis Growth Partners was founded by a team of professional investors, operators, and advisors who have built and run successful, award-winning domestic and international impact funds.  Started in 2015, the mission of Artemis Growth Partners is to bring the principles of ESG and impact investing to the cannabis industry on a global basis. 

The leadership team at Artemis Growth Partners are investment professionals who held senior positions at Goldman, Sachs & Co., JPMorgan, and Mesoamerica.  The firm’s aim is to create value at every step of the investment process by bringing the principles and practices of world-class governance, strategy, and controls to each portfolio investment. 

Artemis Growth Partners oversees US $320+ million in discretionary assets under management (AUM), and invests globally across the cannabis value chain, including branded products, distributors, value-added service providers, ancillary operators, and science-driven research and development platforms.

Artemis manages a portfolio of over 30 leading cannabis companies, including globally recognized US operators such as Columbia Care, Green Thumb Industries, iheartjane.com, Kiva Confections, Leaf Trade, PAX Labs, and The Parent Company, as well as emerging international and European players such as Asia Horizon, Aureum A/S, Clever Leaves, Materia, PhytoPūr Bio, and Prohibition Partners. 

The portfolio companies of Artemis Growth Partners operate in the legal domestic and international cannabis markets of North and South America, the Caribbean, the United Kingdom, Europe, Israel, and China.  

As investors, Artemis Growth Partners relentlessly focus on improving the opportunities and outcomes for owners, employees, communities, vendors, customers, and patients through the lens of regenerative business practices and ESG and impact investing.

Artemis Growth Partners founders’ mission is to build through investment an inclusive, better world for all.

Forward-Looking Information Cautionary Statement 

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements") Forward-looking-statements in this release include, but are not limited to, the potential cost reduction and credit re-structuring plans of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.  

SOURCE: Artemis Growth Partners

For further information (media contacts):

Artemis Growth Partners
E: media@artemisgrowth.com
W: www.artemisgrowth.com