SoCal Marijuana Grower Raises $6.5M for Cultivation Facility

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Canndescent, a commercial marijuana grower in southern California, announced Wednesday it has closed a $6.5 million funding round to bolster its cultivation facility in Desert Hot Springs.

The raise was completed from more than 30 investors, according to a press release, and will go towards “working capital, marketing, and additional property, plant and equipment.” The facility will start cultivation operations on Sept. 29.

The Desert Hot Springs facility is the first in southern California to operate with a locally-issued business permit specifically for growing cannabis, the release claims, though the town has become a hotbed of marijuana business

SoCal Marijuana Grower Raises $6.5M for Cultivation Facility is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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