Canndescent Raises Largest Seed Round on Record for a SoCal Cultivator
Ryan Allway
August 31st, 2016
News, Top News
CANNDESCENT, a California-based cultivator of premium cannabis flower, recently closed a $6.5 million seed round led by Texas investor Lee McPherson and CEO Adrian Sedlin. The seed round represents the largest on record for a Southern California cannabis cultivator.
“We’re thrilled to have raised the largest seed round for a SoCal cultivator,” said CEO Sedlin, who earned his MBA from Harvard and has built and sold four other businesses. “It validates the milestones we’ve already achieved, our consumer value proposition, and the team we’ve assembled. We’re grateful for the opportunity to help our consumers, shareholders and employees be their best self and become CANNDESCENT.”
CANNDESCENT is leading the cannabis 2.0 charge in California with a combination of world-class management and deep cultivation expertise. The company has created an ultra-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.
Leading the round of 30-plus investors, Texas-based Lee McPherson said, “At this moment in history, cannabis is an execution play requiring a blend of six sigma operations and state-of-the-art marketing. CANNDESCENT was the first company of the 50-plus I reviewed that possessed the vision, passion, expertise and focus to build something extraordinary.” Also participating in the round, Adam Cohen, CEO of MJardin, the largest management company in the cannabis industry, said, “I’m responsible for over 500,000-square-feet of production and recognize exquisite flower when I see it. CANNDESCENT sets the bar for ultra-premium flower.”
CANNDESCENT’s mission is to help people achieve their best self. It cultivates cannabis flowers that average 22%-33% THC content in fully licensed, indoor facilities. CANNDESCENT’s branded flowers pair exceptional product quality and state-of-the art cannabis science with informative product names that help consumers navigate to their desired outcome. Consumers purchase CANNDESCENT’s products through California dispensaries and delivery services that value CANNDESCENT’s professional management, reliability, marketing, and product quality. To learn more contact visit http://www.canndescent.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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