Multi-State Cannabis Operator Green Peak Innovations Raises $10 Million

Green Peak Innovations Closes on $10 Million Mezzanine Financing

LANSING, Mich., September 26, 2019 – Green Peak Innovations, Michigan’s largest holder of vertical medical marijuana licenses, today announced the completion of a $10 million round of mezzanine financing. Green Peak Innovations will use the capital to finance its planned expansion in Michigan and beyond.

“With our fourth store opening this month and another 13 scheduled to open over the next six months, we are poised to significantly ramp our sales and operations in the coming months,” CEO Jeff Radway said. “We are well on our way to becoming Michigan’s premier cannabis company as the recreational market opens up next year.”

Green Peak has invested significant capital into our two state-of-the-art and fully operational indoor grow facilities. This capital raise, in conjunction with our existing partnership with 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

Canaccord Genuity and Beacon Securities acted as co-lead agents for this funding round.

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.

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Source: Company


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