Symboli announces its intent to create and issue its proprietary Symboli token as a Security Token Offering (STO) under U.S. law to purchase five operational cannabis retail locations in Los Angeles, California, with annual revenues in excess of $100 million in 2019. Symboli will establish a substantial California presence, expand, build strategic partnerships and implement further utility protocols.
Symboli’s management revealed its annual Cannabis Dividend® with an extraordinary cash dividend payout ratio of 100% of all net earnings (adjusted EBITDA) for the first three years following the acquisition of the operations (estimated at a total of $112 million to be distributed to Symboli token holders from 2019-2021, representing one of the largest cash dividends for STO investors in the history of cryptocurrencies).
Symboli will be an Ethereum-based security token launching its public pre-sale round and STO in Q1 2019 followed by its token generation event (TGE) and crypto exchange listings in Q2 2019 (currently Symboli is organizing and conducting a limited private pre-sale).
Symboli will use the STO proceeds to complete acquisition of the five cannabis businesses in Los Angeles (Beverly Hills, Marina Del Rey, two downtown L.A. and Van Nuys). These popular locations are expected to generate from their established operations cumulative gross revenues of $400 million over the next three years.
Symboli Cannabis Dividend® projected annual dividend amounts based on adjusted EBITDA numbers for 2019 are $27,447,025, 2020 of $37,019,415 and 2021 of $47,525,409; representing an initial dividend yield of around 22% for 2019 (based on a projected listing price of $0.50 per Symboli token).
Symboli will also offer investors a dividend in kind with exclusive advantages (e.g. 40% discount on product purchases in its locations for 36 months).