Doyen Elements is planning to publicly list its shares on the OTC Market, but early investors won’t have to wait. The cultivator said it was accepting investments now prior to its IPO at $7.00 a share. Doyen Elements has big plans and is currently building one of the largest grow facilities in North America. This 234,000 sq. ft. behemoth of a building will be capable of producing upwards of 70,000 pounds of cannabis per year. According to the company, this building will be the first of many self-contained grow facilities the company will lease out to legal cannabis companies.
The grow facility is located in Pueblo Colorado in an abandoned Pepsi factory. The project has strong community support since it has taken a derelict building and breathed new life into it. In addition to its own facility, Doyen Elements is planning on building a portfolio of real estate assets in order to lease them out to licensed cultivators and dispensary owners. The goal is to have over a million sq. ft. of grow space across the country.
Doyen is also trying to assemble a collection of cannabis companies. According to the company statement, “Equity Purchase Agreements are in place to acquire 16 long-standing, high-performing companies that span across all areas of the Cannabis Industry.” The companies are involved in multiple areas of the industry, from management, green technology, to research, etc, each company operates 100% independently from one another. The strategy behind the company portfolio is to allow “Doyen Elements the opportunity to profit from 16 different revenue streams while giving investors access to a diversified portfolio of companies in the industry. Also by cross-selling its services the company will obtain a higher ROI on client acquisition costs.”
Once the offering closes Doyen Elements plans to list on the OTC stock exchange.