Michigan’s biggest marijuana company is based near Lansing
Fourth retail store to open this month, 13 more in the next six months
Green Peak also agreed in May to buy a marijuana license holder company in Florida
Green Peak Innovations, Michigan’s biggest marijuana company, has wrapped up a $10 million round of mezzanine financing to fund expansion.
The company based in Windsor Township southwest of Lansing expects its fourth store to open this month in Nunica on the west side of the state. Thirteen more are slated to open in the next six months, according to a news release.
“We are well on our way to becoming Michigan’s premier cannabis company as the recreational market opens up next year,” CEO Jeff Radway said in the release.
Green Peak is also making expansion moves outside Michigan: It announced in May that it had agreed to buy a marijuana license holder in Florida, marking its first foray out of the state. Radway said in July that a 100-store roll-out was planned, involving locations in both Ohio and Florida. It also plans to expand its 60,000-square-foot production facility in Windsor Township.
Mezzanine financing is a gap-filler between equity and senior debt in a company’s capital structure that gives the lender the right to convert to an equity interest in the company in case of default.
“This capital raise, in conjunction with our existing partnership with (cannabis-focused real estate company) Innovative Industrial Properties and expected positive cash flow, will facilitate further expansion plans and strengthen our organizational capacity to fuel our rapid growth objectives,” CFO Al Gever said in the release.
Previously, Green Peak raised $30 million in an oversubscribed debt round, exceeding its planned funding goal.
Green Peak has two indoor grow facilities and a host of branded cannabis products: Skymint, North Cannabis, Jolly, Evoxe Laboratories, Agata and St. Jade. It sells through Skymint-branded retail locations and wholesale.
Green Peak also teamed with Short’s Brewery Co. in northern Michigan to produce a line of beer-inspired edibles and vaporizers.
About Green Peak Innovations
Green Peak Innovations (GPI) is a vertically integrated cannabis company and the largest license holder in the state of Michigan. With two state-of-the-art and fully-operational indoor grow facilities, the company cultivates, processes, markets and distributes a full range of branded cannabis products including Skymint™, North Cannabis™, Jolly™, Evoxe Laboratories®, Agata™ and St. Jade™ through both Skymint-branded retail stores as well as wholesale distribution channels. GPI inspires individuals to UNLOCK their mental, physical and spiritual potential through cannabis.
Green Peak 还于5月同意在弗洛里达州购买一家持有大麻执照的公司
密歇根州最大的大麻公司 Green Peak Innovations 完成了一轮1000万美元的夹层融资，为扩张提供资金。
“随着娱乐市场明年开放，我们正准备好成为密歇根州首屈一指的大麻公司，”首席执行官杰夫•拉德韦( Jeff Radway )在新闻稿中表示。
首席财务官 Al Gever 在新闻稿中表示：“此次融资，加上我们与（以大麻为重点的房地产公司）创新工业地产和预期的正现金流的现有合作关系，将有助于进一步扩大计划，增强我们的组织能力，以推动我们的快速增长目标。”
绿峰拥有两个室内种植设施和一系列品牌大麻产品： Skymint 、 North Cannabis 、 Jolly 、 Evoxe Laboratories 、 Agata 和 St 。翡翠。它通过 Sky薄荷品牌的零售场所和批发进行销售。
Green Peak 还与密歇根州北部的 Short ’ s Brewery Co .合作，生产一系列受啤酒启发的食用和汽化器。
Green Peak Innovations ( GPI )是一家垂直整合的大麻公司，也是密歇根州最大的许可证持有者。该公司拥有两个最先进和全面运作的室内种植设施，培育、加工、营销和分销各种品牌大麻产品，包括 Skymint ™、 North Cannabis ™、 Jolly ™、 Evoxe Laboratories ®、 Agata ™和 St 。Jade ™通过 Sky薄荷品牌的零售商店以及批发分销渠道。GPI 鼓励个人通过大麻来发掘他们的精神、身体和精神潜能。