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The California private equity firm Kodiak Capital Group has agreed to to invest $2 million in Burn Entertainment Corp, a multimedia entertainment and lifestyle company catering to “legal cannabis” enthusiasts.
New York-based Burn Entertainment, or BurnTV, announced the stock purchase agreement, saying it would use the proceeds to expand its television and music programming as well as boost its distribution network.
In April, Kodiak agreed to buy $1 million of stock from another cannabis-related business, FutureLand Corp., a Colorado company that leases land and equipment to growers of medical and recreational marijuana.
Burn Entertainment trades on the