GenCanna Global, Inc. (“GenCanna” or the “Company”) announced today that it has engaged Goldman Sachs & Co. LLC (Goldman Sachs) to serve as a financial advisor to assist the Company in evaluating an initial public offering and other strategic alternatives. “We have made significant investments in growing the hemp industry in the spirit of the Farm bill – investing in American farmers and the necessary infrastructure to capture the value of the hemp crops grown on their farms,” said Matty Mangone-Miranda, CEO of GenCanna Global. He continued, “This investment requires incredible dedication, tremendous hardwork and meaningful capital. We are excited to partner with Goldman Sachs as we explore a variety of ways to continue our category-leading growth.” Pillsbury Winthrop Shaw & Pittman will be advising GenCanna as the Company evaluates strategic growth options with Goldman Sachs.
GenCanna is a vertically-integrated agriculture-technology company specializing in the production of hemp rich in CBD. Founded in 2014, as an inaugural member of the Kentucky Department of Agriculture's Industrial Hemp Pilot Program, the company is a longstanding industry pioneer. GenCanna works closely with state universities, consumer protection agencies and other regulatory bodies driving key industry standards and legislation. Consistent extraction methods and innovative processing technologies ensure GenCanna production processes exceed all regulatory standards for FDA registered and inspected food production facilities (learn more at gencanna.com/compliance). The GenCanna Production Platform assures standardized, repeatable quality from farm to finished product.
GenCanna is a founding board member of the U.S. Hemp Roundtable. Launched in early 2017, the U.S. Hemp Roundtable is a coalition of over 70 hemp companies – representing every link of the product chain, from seed to sale – and all of the industry’s major national grassroots organizations. The U.S. Hemp Roundtable has secured the passage of bi-partisan legislation in the U.S. Congress that established hemp federally as an agricultural commodity, permanently removing it from regulation as a controlled substance.