The company will use the funds to expand its current assets,
and to purchase additional cannabis companies and licenses.
CHICAGO, August 30, 2022 /PRNewswire/ — The 1937 Group, Ltd. (www.the1937group.com), considered the first vertically integrated minority-owned cannabis company Illinoisannounced that he recently obtained $17M in new funding. The company has entered into a binding financing agreement with the private investment group SGG Enterprises LLC.
The funds will be used for the construction of current assets, and for the purchase and construction of other Illinois cannabis establishments.
The 1937 Group was created to be the parent company of several Illinois licensed cannabis companies, including a 52,000 square foot grow operation currently under construction (Helios Labs), a retail operation (Parkway Dispensary), and a cannabis transportation business (Highwaymen Security).
The company is also in the process of obtaining an additional Craft Grow license and four (4) Illinois retail dispensary licenses.
“It is important that we capitalize as a leading social equity incumbent in the Illinois regulated cannabis market,” said Ambrose JacksonCEO of 1937 Group. in place; and that we can execute on our vision of becoming not only one of the first new operators in the market, but also one of the most influential.”
The terms of the agreement establish a disbursement schedule of $13M in shares and $4 million as a debt security.
Qualified individuals and entities interested in investing with The 1937 Group or any of its companies may contact Ambrose Jackson at: [email protected]Where Mayor Shah at: [email protected].
About the 1937 Group:
The 1937 Group, Ltd., is the first vertically integrated, minority-owned cannabis company based in Chicago, and as such, is committed to creating opportunities for others whose voice is often ignored. The company currently owns several Illinois cannabis licenses, including retail, cultivation and transportation.
The name “The 1937 band” is inspired by the Marihuana Act of 1937, which fueled pervasive racial discrimination against Mexican Americans and Blacks, and widespread imprisonment for what is now legal activity in the majority of United States.
Connect with The 1937 Group and its group of companies:
The 1937 group
Dispensary of the promenade
The Innovation Agency
SOURCE The 1937 Group