Ron Strider
Well-Known Member
A Montgomery County medical marijuana company has completed a $5.89 million Series B funding round just a few months after closing a Series A raise a third of its size, a Securities and Exchange Commission filing shows.
Green Leaf Medical LLC is one of the few companies that received approval from Maryland regulators last year to cultivate medical marijuana. The Gaithersburg-based company, led by a local entrepreneur Philip Goldberg, will use the new funding in its efforts to expand into Pennsylvania and Ohio. It is also being used to support Maryland operations, Goldberg said.
The company expects to hear back about whether it will receive a license to do business in Pennsylvania within the next week while its application to start operations in Ohio is due later this month, Goldberg said.
This round of funding comes just three months after the company closed on its last funding round, worth $1.6 million, in March. Those dollars went toward construction of its medical marijuana cultivation facility in Frederick, where the company will eventually grow up to 5,000 plants at a time, Goldberg said.
Goldberg is a founding member of the Maryland Cannabis Industry Association. Green Leaf's team also includes Dr. Vincent Njar, a pharmacology professor at the University of Maryland School of Medicine, and Dr. Maneesh Sharma, director of pain medicine at MedStar Good Samaritan Hospital (MedStar is not involved in his marijuana research) and medical director of Baltimore's Interventional Pain Institute.
Spencer Kirson, a Maryland native who operates a Denver-based medical cannabis company, and former Frederick police Lt. Thomas Chase, charged with employee and corporate background investigations, are on the team as well.
Green Leaf is one of 15 businesses awarded a license by Maryland's Natalie M. LaPrade Medical Cannabis Commission to grow medical marijuana. The state also selected 15 companies to process medical cannabis.
Medical marijuana company Holistic Industries LLC said last month it raised more than $8 million to complete the build out of its cultivation and processing facility in Capitol Heights. The money will also support the purchase of state-of-the-art fixtures and equipment, said Holistic CEO Josh Genderson, who is the owner of Schneider's of Capitol Hill Fine Wines and Spirits, as well as general manager of two D.C.-based medical marijuana grower-processor businesses. Holistic expects to have medicinal cannabis available in the fall.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: https://www.bizjournals.com/washing...mery-co-medical-marijuana-company-raises.html
Author: Tina Reed
Contact: https://acbj.com/contact
Photo Credit: Getty Images
Website: https://www.bizjournals.com/
Green Leaf Medical LLC is one of the few companies that received approval from Maryland regulators last year to cultivate medical marijuana. The Gaithersburg-based company, led by a local entrepreneur Philip Goldberg, will use the new funding in its efforts to expand into Pennsylvania and Ohio. It is also being used to support Maryland operations, Goldberg said.
The company expects to hear back about whether it will receive a license to do business in Pennsylvania within the next week while its application to start operations in Ohio is due later this month, Goldberg said.
This round of funding comes just three months after the company closed on its last funding round, worth $1.6 million, in March. Those dollars went toward construction of its medical marijuana cultivation facility in Frederick, where the company will eventually grow up to 5,000 plants at a time, Goldberg said.
Goldberg is a founding member of the Maryland Cannabis Industry Association. Green Leaf's team also includes Dr. Vincent Njar, a pharmacology professor at the University of Maryland School of Medicine, and Dr. Maneesh Sharma, director of pain medicine at MedStar Good Samaritan Hospital (MedStar is not involved in his marijuana research) and medical director of Baltimore's Interventional Pain Institute.
Spencer Kirson, a Maryland native who operates a Denver-based medical cannabis company, and former Frederick police Lt. Thomas Chase, charged with employee and corporate background investigations, are on the team as well.
Green Leaf is one of 15 businesses awarded a license by Maryland's Natalie M. LaPrade Medical Cannabis Commission to grow medical marijuana. The state also selected 15 companies to process medical cannabis.
Medical marijuana company Holistic Industries LLC said last month it raised more than $8 million to complete the build out of its cultivation and processing facility in Capitol Heights. The money will also support the purchase of state-of-the-art fixtures and equipment, said Holistic CEO Josh Genderson, who is the owner of Schneider's of Capitol Hill Fine Wines and Spirits, as well as general manager of two D.C.-based medical marijuana grower-processor businesses. Holistic expects to have medicinal cannabis available in the fall.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: https://www.bizjournals.com/washing...mery-co-medical-marijuana-company-raises.html
Author: Tina Reed
Contact: https://acbj.com/contact
Photo Credit: Getty Images
Website: https://www.bizjournals.com/
