SAN JUAN, P.R. (PRWEB) NOVEMBER 14, 2018
TPZ Ventures, LLC., operator of Tropizen, a Puerto Rico based medical cannabis cultivator and manufacturer, will issue up to $2 million of equity through a Security Token Offering (STO) using the InPortal INPR protocol.
Tropizen, which opened its doors months after hurricane Maria devastated the island, is now preparing for its fourth harvest; supplying a growing number of dispensaries with high quality cannabis flower. The company is poised to release an extensive array of infused cannabis products to the market including; concentrates, tinctures, topicals and edibles to serve the needs of patients.
The 22,000 square foot Tropizen facility is located in Canovanas, Puerto Rico, consisting of indoor cultivation rooms, high purity CO2 extraction lab and commercial kitchen. New capital will fund the expansion of cultivation, manufacturing space, and the build-out of dispensary locations.
“With our focus on creating the safest, highest quality products for Puerto Rico’s medical patients, we strive toward innovation every day, while keeping our feet grounded in traditional remedies that have been passed down for generations. We could not be happier to launch this STO in partnership with InPortal to bring this innovation to investing in Puerto Rico’s growing medical cannabis industry.” Marni Meistrell, COO and co-founder, Tropizen.
“Tropizen’s issuance of programmable digital equity shares through an STO, will provide investors with the security and liquidity associated with on-chain transactions. We expect that this form of equity will soon become the norm for private company funding.” Stephen Inglis, CEO, InPortal.
Tropizen’s ongoing expansion is being funded through the Series A offering and will be augmented through the issuance of a Tropizen Series A Token, an on-chain security issued through the Securities and Exchange Commission’s (SEC) Regulation D 506 (c) exemption to accredited investors. The Tropizen Token will be imbedded with smart contracts to provide corporate governance functions, including investor distributions, corporate news, basis for accreditation, and facilitate trading liquidity on a variety of secondary market platforms.
InPortal is a Puerto Rico based private market, and compliant provider for Security Token Offerings. While InPortal has several Puerto Rican projects it is designed as a transaction venue for both domestic and international companies to connect with investors on equity and debt issuance across all asset classes and geographies through a secure data room, and smart contract settlement. Issuers post on a public site http://inportalusa.com/Offerings.
Tropizen LLC is a Puerto Rico – based medical cannabis cultivation and manufacturing company, providing best-in-class product manufacturing, quality control, and service to cannabis brands and biotech. Tropizen is committed to producing an extensive array of highly purified, locally-sourced cannabis products to serve the needs of patients and support local communities.