Captor buys into MedMen dispensaries...
Captor is seeking to increase its investment in I-5 Holdings in order to maximize the growth potential of the two I-5 Holdings dispensaries located in the Los Angeles area operating under the MedMen brand. The dispensaries, located in Santa Ana and West Hollywood, are two of seven currently licensed to sell recreational cannabis in the Greater Los Angeles Area. Recreational cannabis was legalized by the State of California on Jan. 1, 2018, but the City of Los Angeles has yet to grant permits for any dispensaries within its borders. As a result, the MedMen dispensaries in West Hollywood and Santa Ana -- which were previously licensed to sell medicinal marijuana -- are the closest options to buy legal recreational cannabis for the approximately four million residents of Los Angeles.