Mentor Capital Reports on Cannabis 3.0 in Las Vegas
What a Difference Two Years Makes Riding the Marijuana Tsunami
SAN DIEGO--(BUSINESS WIRE)-- Mentor Capital, Inc. (OTCQB: MNTR) observes that the face of marijuana is changing. In 2013 and in 2015 last week, Mentor went to the largest marijuana trade show in the USA to meet with the CEOs of marijuana companies. In 2013 the forum was the club house of a horse racing track with around 750 attendees. Following a few notable pioneers, a handful of people with experience in the marijuana business and a love for the plant, were exchanging tie dye for casual to make a legitimate name for themselves. $800,000 in annual revenue made one a for-profit market leader. Mentor was one of two financial professionals in attendance.
Last week, just two years later, the transformed cannabis venue was Las Vegas with more than a half dozen overlapping expos and events with more than 200 exhibitors and 5,000 in attendance across the cannabis (the now preferred term) filled week. Professionals in lighting, construction, insurance, containers, engineering and agriculture doffed their ties to offer sector knowledge to the cannabis space. Sales in the low millions are common and $25 Million is the new large number in this still fragmented market.
Scanning conference attendees, it is clear first and second tier financial firms are still absent in the cannabis space. This gives Mentor Capital a first actor advantage in that regard. According to the company, twenty-seven cannabis firms expressed an interest this last week in working with Mentor for owner liquidity, enhanced valuation, funding and to move toward the public market. “There is no good reason for cannabis owners to lose 10% to 25% of their firm to go public by reverse merger, nor for owners and investors to hold a lucrative but illiquid investment. Mentor proprietary transactions are designed to assist founders in the disclosure, accounting and structure that is attractive to frugal owners, institutions and regulators alike,” summarizes Mentor Capital CEO, Chet Billingsley.
About Mentor Capital: The Company seeks to come alongside and assist medical marijuana and cannabis companies and their founders in meeting their financial objectives, to add protection for investors and to help incubate private cannabis companies. Additional important information for investors is presented at: www.MentorCapital.com.
This press release is neither an offer to sell, nor a solicitation of offers to purchase, securities.
Forward Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales, problems securing the necessary financing to continue operations, problems involving continued illegality of cannabis products, potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting knowledgeable personnel and in protecting intellectual property. Further information concerning these and other risks is included in the Company’s 10-K and 10-Q filings including the Company’s most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 which, along with other very important information about the Company, can be found filed with the SEC and here:
The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events or circumstances occurring after the date of this press release.
Mentor Capital, Inc.
Chet Billingsley, CEO
Source: Mentor Capital, Inc.
Released November 16, 2015