Chrystal Capital

Chrystal Capital raises US$22 million for MPX Bioceutical Corporation

Chrystal Capital Partners LLP, the FCA regulated corporate finance boutique based in London, is pleased to announce that it has raised a further US$22 million for the Canadian listed MPX Bioceutical Corporation.

Chrystal Capital’s Special Situations team advises on private and public transactions with an emphasis on bespoke, esoteric opportunities demonstrating profitability and strong return potentials for our investors.

MPX Bioceutical Corporation (MPX), previously know as Canadian Bioceutical Corporation (BCC) is a vertically integrated and established legal medical marijuana business, headquartered in Toronto, Canada and listed on the Canadian Securities Exchange (CNSX: MPX) and the US OTC (MPXEF:OTC US). Following two previous oversubscribed fundraises in January 2017 for US$27 million and in May 2017 for US$37 million (mixture of debt and equity), Chrystal Capital partnered up with Echelon Wealth Partners and Canaccord Genuity Corporation to raise a further US$22 million of equity. Chrystal Capital has now helped raised US$86 million for MPX to execute its roll up strategy in North America.

MPX now has either fully operational, or assets under development, in Arizona, Massachusetts, Nevada and Maryland. It operates a fully vertically integrated business from seed strains, to cultivation, to extraction, to distribution through to derivative products and multiple consumer brands. With the proceeds, MPX will be acquiring a profitable and cash flow positive management services company in Phoenix, Arizona, and also acquire three dispensary licenses in Baltimore, Maryland. Furthermore, MPX has also signed a deal with Panaxia Pharmaceutical Industries. The JV partnership will provide MPX with an unparalleled opportunity to develop and sell pharma-grade cannabinoid products into the burgeoning medical cannabis market.

Scott Boyes, CEO of MPX stated: “We are pleased with the placement and delighted to see many of Chrystal Capital’s investors continuing to support the business, as well as onboarding new investors. Chrystal Capital has consistently delivered oversubscribed rounds of funding which has allowed us to ensure we are able to execute our buy and build strategy. We will deploy these funds to continue to expand our footprint in the US and Canadian cannabis sector, and ultimately reward those old and new investors who have demonstrated confidence in us.”

Kingsley Wilson, Partner at Chrystal Capital commented: “In addition to welcoming aboard new investors into the business, we are pleased to see so many of our existing family office and private investors participate in the round, some for the third time, highlighting  the importance of family office capital for these private financings. We believe that MPX is now well positioned to become one of the most profitable players in the North American medical cannabis market.”

About Chrystal Capital

Chrystal Capital Partners LLP is an established, FCA regulated corporate finance firm with access to a global network of over 500 single family offices.

The firm specialises in being a trusted source of advisory services to the families, assisting them with their existing portfolio investments, whilst also reviewing new investment cases on their behalf. Opportunities are originated from both within the network and other trusted third parties. The families are based mainly in the UK, Western Europe, North America, GCC and South East Asia.

We are regularly approached for investment by companies who acknowledge our in-depth knowledge of the families asset allocations, thus providing a gateway to an alternative source of funding.

Chrystal is sector agnostic and has a global outlook.