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TORONTO, Jan. 16, 2019 /CNW/ – Cannabis Growth Opportunity Corporation (“CGOC“, or the “Company“) (CSE: CGOC), a cannabis focused investment corporation with both public and private cannabis holdings, announced today the company has made an investment in Tökr LLC (“tökr“), creators of application software (“app“) that modernizes the cannabis industry by connecting the new cannabis user of today with lifestyle brands that represent quality and reliability. This investment reflects CGOC’s commitment to investing across the cannabis value chain to drive long-term growth for the company’s shareholders.
tökr is a new platform that creates a personalized cannabis experience for each user based off their individual preferences, and is also a SaaS (online software) digital marketing solution for brands. The app allows users to create a curated profile, discover products and brands they can trust, and find licensed delivery or retailers nearby for purchase. tökr is also focused on providing forward-thinking lifestyle brands the ability to break through the clutter and strategically market to an engaged audience at scale. Unlike other industries, cannabis brands have been severely limited in reaching their audiences due to federal restrictions.
Jamie Blundell, President and Chief Operating Officer of CGOC commented, “Our investment in tökr, a technology-based (Cannatech) company within the cannabis industry, is representative of our beliefs in the broader growth available to this booming industry. We continuously look to complement our traditional cannabis investments like cultivation and extraction, with companies that exists outside the traditional industry, where we see long-term growth possibilities.”
Matthew Singer, Co-Founder and Chief Executive Officer of Tökr commented, “We are excited to be a part of the CGOC investment portfolio. They represent smart capital that helps us build strategically and effectively as we expand through the legal Cannabis market. Our vision of the industry is one where those forward-thinking brands have a voice to people outside of the traditional marijuana culture that has permeated the industry in the early going. As these new brands come into the market, they often have such a compelling story to tell and our partnership with CGOC will be instrumental in allowing those stories to reach the consumers they were designed for.”
CGOC invested $350,000 USD for 292,986 shares in tökr. The company plans to use the funds for general business purposes.