PRESS RELEASE —
MELBOURNE Nov. 11, 2020 – Releaf Group Ltd (RGL) has announced that the company has released an Information Memorandum for a pre IPO funding round to raise AU$4 million to further the company’s expansion and investments into technology, cultivation and manufacturing. As the cannabis industry continues on its impressive growth trajectory, acquisitions are leading to greater vertical integration and fuelling rapid expansion and investment opportunities for RGL Australasia’s first cannabis franchise group.
Releaf Group Ltd’s impressive month-on-month growth in 2020 throughout COVID-19 as the first cannabis clinic and dispensary franchisor in Australasia positions the company with an early mover advantage in the APAC region. Releaf Group Ltd has its head office located in Melbourne, Australia, with a wholly-owned subsidiary Releaf Ltd based in Auckland, New Zealand.
The company owns inbound phone number 1300DISPENSARY and ranks number one on Google search for “Dispensary” in APAC. Releaf has pioneer sites in St Kilda and Bentleigh, Australia, and is on schedule to have 12 locations by the end of the 2021 financial year.
In total, the company is planning to establish 200 franchises over the next five years, with planned sites purchased outright in most instances then leased back to franchisees likening Releaf’s business model to the McDonalds of cannabis. In 2021, the company is planning to expand internationally with flagship dispensaries in South Africa, Hong Kong, Thailand and the United Kingdom with the aim of expanding its master franchising division and international export markets.
Releaf’s vertically integrated group of companies ranges from the cultivation of cannabis strains through to manufacturing and packaging, research and education and distribution channels via the groups own medical clinics and dispensaries (ReleafTM) and Recreational Dispensary brand (MULL CafeTM), a global online store and export division operating in both medical and recreational sectors in legal jurisdictions which is set to dominate in the region. Each business vertical within Releaf works in tandem with one another to streamline the seed-to-sale process and maximise margins and earnings.
“This latest investment round represents an ongoing phase of aggressive growth for Releaf and is indicative of an auspicious future, validating the team’s relentless ambition and commitment to expand into technology, cultivation and manufacturing as part of a vertically integrated supply chain for its end distribution clinic and dispensary franchises” said Gary Mackenzie, Co-Founder and CEO of Releaf Group Ltd.
For investment enquiries:
investorrelations@releafgroupltd.com
