Gladstone Financial Corporation Invests in Data Analytics Business
MCLEAN, Va., Sept. 28, 2017 (GLOBE NEWSWIRE) -- Gladstone Financial Corporation (“Gladstone Financial”), a wholly owned SSBIC subsidiary of Gladstone Capital Corporation (NASDAQ:GLAD) (“Gladstone Capital”), announced that it has invested $500,000 in a data analytics company, Frontier Financial Group (dba New Frontier Data), which provides market data and information on the cannabis industry throughout 68 countries around the world. The company is in no way involved in the growing, manufacturing, distribution or sale of this drug that is still illegal at the U.S. Federal level. New Frontier is solely an information source for those seeking information on the cannabis industry.
“We see the need for a comprehensive and accurate data provider to evaluate one of the fastest growing markets. It is an extremely valuable information service, and we believe will be a must have resource for the industry and those that regulate the industry,” said Duane McKnight, Managing Director at Gladstone Financial Corporation.
About Gladstone Financial Corporation
Gladstone Financial specializes in providing growth capital to minority owned companies overlooked and under-represented in receiving investment in the capital markets. Gladstone Financial is licensed as a SSBIC by the US Small Business Administration. Neither Gladstone Financial nor Gladstone Capital takes a position on the merits of cannabis use or legalization.
Gladstone Financial is affiliated with the Gladstone Companies family of investment funds, which manage more than $2.0 billion of assets and have a long history of financing established businesses with the growth and cash flow profile to support institutional capital investments. Since its formation in 2001 and through June 30, 2017, Gladstone Capital has made over 450 loans or investments in over 200 businesses representing over $1.5 billion invested. Gladstone Financial leverages the capital base of Gladstone Capital and the extensive industry and investment experience of the Gladstone Companies to deliver flexible debt capital solutions tailored to the particular business and operator objectives which include first and second lien debt as well as possible equity co-investments. Information on the business activities of Gladstone Capital and all the Gladstone funds can be found at www.gladstonecompanies.com.
About New Frontier Data
New Frontier Data is an independent, technology-driven analytics company specializing in information about the cannabis industry.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate is to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the cannabis industry.
The statements in this press release regarding the intentions, expectations and longer-term prospects of New Frontier Data and its management team are "forward-looking statements." These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on New Frontier Data's, Gladstone Financial’s and Gladstone Capital’s current expectations and plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements. No assurance can be given that the expectations or plans discussed above will be met. Gladstone Capital and Gladstone Financial undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a description of certain risks to which Gladstone Capital is or may be subject, please refer to the factors discussed under the captions “Forward-Looking Statements” and “Risk Factors” included in Gladstone Capital’s filings with the SEC (accessible at www.sec.gov).
CONTACT: For further information: Gladstone Capital Corporation, 703-287-5893.
Released September 28, 2017