Bangi Inc. (OTC: BNGI), an investment vehicle focused on cannabis-related real estate assets, has filed an offering statement with the Securities and Exchange Commission to conduct a $50 million Regulation A+ securities offering. The net proceeds of the offering will be used primarily to finance the company’s acquisition program.
“Bangi will represent one of the first publicly-traded cannabis companies to use Regulation A+ since it was adopted in June of 2015, which our management team is particularly proud of achieving…,” said Dr. Neil Parsan, chairman and chief executive officer.
The company said that the new offering is expected to include both existing and new investors, targeting those who did not have the opportunity to participate in earlier rounds, with an emphasis on building long-term shareholders.
Bangi (pronounced bon-ghee) means “marijuana” or “hemp” in the African dialect Swahili and acquires and leases specialized real estate assets, such as cannabis farms.