LOS ANGELES, Jan. 7, 2016 /PRNewswire/ -- Co-founders Steven Saxton and Philip Asquith are pleased to announce that they have secured $2.5 Million of start-up capital for Green Gorilla, Inc. Mr. Saxton provided the initial seed money for the company, which was followed by additional capital raised through a small convertible debt round of $250,000+.
The company's subsequent Series A $1 Million equity round was increased in size, to include a $1 Million investment made by a major institutional investor. The founder's goal is to raise an additional $100 Million privately (through accredited-investor-only prospects); followed by an IPO currently targeted for 2017-2018.
Green Gorilla is building an international brand in the hemp and cannabis industries. The company is committed to sustainably and ethically providing the highest quality products and services in these industries. Having been in development over a 10 year period and established in 2013, Green Gorilla is being helmed by the veteran venture capital and finance professionals Steven Saxton and Philip Asquith.
Green Gorilla is currently in the process of launching its initial product line, Hemp & Olive. This product line consists of over 50 unique supplements, cosmetics and pet care products, all based on 100% organic extra virgin olive oil infused with 100% pure & plant-based cannabidiol (CBD).
Hemp & Olive's products are all 100% Organic, Non-GMO, Vegan, Paleo, Kosher, Gluten-Free, & Sugar-Free. The products are also produced using world class extra virgin olive oil from award winning California producer, Ojai Olive Oil, Inc. The CBD used in the Hemp & Olive line is sourced from the very best hemp growers around the world, and is extracted and purified to 100% before being infused into our extra virgin olive oil. CBD is the most medicinal component of the hemp/cannabis plant, yet it has no psychoactive properties. Green Gorilla's goal is for Hemp & Olive to soon be the most comprehensive and best formulated CBD product line in the world.
The line will be backed by a fully developed web portal (www.ILoveGreenGorilla.com), focusing on retail, information and interaction, and selling both Green Gorilla and select third party products.
About Green Gorilla: Green Gorilla is building an international brand in the hemp and cannabis industries. Our mission is to provide sustainable and ethical goods and services to a broad range of customers, with a primary focus on health and wellness.
Green Gorilla prides itself on being a sustainable and ethical company, and to utilizing hemp to provide people with the tools to live healthier and longer lives, while also preserving and protecting our planet. While federal policy is developing, the Company will operate only in areas that are unequivocally federally legal, and is initially focused entirely on hemp based products.
The company is currently focused on building a multitude of market leading product lines centered around hemp and the picks and shovels of the cannabis industry, as well as a state of the art web portal addressing a wide range of related goods, services, and online interaction & education. Green Gorilla was established in 2013 by founders Philip J.P. Asquith and Sir Steven Saxton.
About the Company Principals: Prior to his role as co-founder & CEO of Green Gorilla, Inc., Philip Asquith was the co-founder and CEO of Green Monkey, Inc., a lifestyle and wellness company based in Miami, Florida, with multiple locations providing movement classes, cold pressed juice bars, a retail boutique and a social lounge area. Prior to Green Monkey, Mr. Asquith was also the co-founder and CEO of Green Capital Investments, Inc., a structured finance group focused on renewable energy projects. GCI's projects included wind-energy farms, biomass-energy facilities, and municipal waste-energy facilities. Mr. Asquith is 39 years old, and lives in Ojai, CA, on a certified organic permaculture ranch.
Prior to his role as co-founder of Green Gorilla, Inc., Steven Saxton was a successful serial entrepreneur and leading executive in the entertainment industry. With over 30 years of experience, Mr. Saxton's numerous credits include the feature films Lone Survivor and The Kids are Alright. He is a highly regarded expert in corporate structuring, private equity, public companies, corporate refinancing, and capital raising for startups. Mr. Saxton has been the lead negotiator for numerous partnerships, mergers, acquisitions and roll-ups for private and public companies. Mr. Saxton was a former investment banker, stock and commodities broker. Mr. Saxton is 52 years old, and currently resides in Malibu with his wife and daughter.
Media Contact 323.788.0741 and Handsonpr@aol.com
Green Gorilla, Inc. | Los Angeles, CA | 323.452.5919
FORWARD-LOOKING STATEMENTS This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that all forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by the Company or any other person that the objective and plans of the Company will be achieved.
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SOURCE Green Gorilla, Inc.