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Home 🌿 Marijuana Business News 🌿 Canndescent Raises $6.5 Million in Seed Round Funding 🌿

Canndescent Raises $6.5 Million in Seed Round Funding

Submitted by Marijuana News on Thu, 09/01/2016 - 09:04

CANNDESCENT, a California cannabis cultivator, closed a $6.5 million seed round led by Texas investor, Lee McPherson, and CANNDESCENT CEO Adrian Sedlin. The seed round represents the largest on record for a Southern California cannabis cultivator.

CANNDESCENT is leading the cannabis 2.0 charge in California with a combination of management and deep cultivation expertise. The company has created a premium brand of cannabis flower produced, packaged and distributed in accordance with all state and local laws. Next month, the company will christen a facility is Desert Hot Springs, CA, the first facility in all of Southern California to operate with a municipally issued conditional use permit specifically for cultivation. Proceeds from the seed round will be used for working capital, marketing, and additional property, plant and equipment.

“We’re thrilled to have raised the largest seed round for a SoCal cultivator,” said CEO Sedlin, who earned his MBA from Harvard...

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