You are here

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

Canndescent Raises $6.5 Million in Seed Round Funding

Warning message

The subscription service is currently unavailable. Please try again later.
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...

e-mail icon Facebook icon Twitter icon LinkedIn icon Reddit icon
Rate this article: 
Region: 
California

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.