Become A Featured Company

Connected Cannabis Co. Announces $30 Million Capital Raise

Ryan Allway

April 14th, 2021

News

Funding will fuel Connected’s national expansion into promising markets beyond California and Arizona for cannabis production at scale

 

SACRAMENTO, Calif., April 14, 2021 /PRNewswire/ — Connected International Inc. (“Connected Cannabis Co.” or “Connected”), a premier cannabis cultivator, retailer and market leader in California, today announced the closing of a $30 million capital raise consisting of debt and equity financing. The round was led by existing investors Navy Capital and One Tower Group with participation from new investors Emerald Park Capital, an affiliate of Bryant Park Capital, and Presidio View Capital.

 

Connected has been building a proprietary genetics portfolio of premium strains and meticulously cultivating cannabis at scale since 2009. With over a decade of industry experience, they are known as a leading brand in the cannabis space and the pioneer of “designer weed.” The company currently operates in California and Arizona. By virtue of its organically-developed and trusted reputation, Connected’s expansion into Arizona in November 2020 has seen continuously high sales since launching.

 

With the additional capital, Connected will accelerate its national expansion while maintaining control over its state-of-the-art cultivation techniques. The company plans to focus on states with robust cannabis cultures and promising potential for sustained growth, such as Nevada with its entertainment and cannabis tourism and Michigan with its continued increase in sales.

 

“We’re thrilled to bring Emerald Park Capital and Presidio View Capital into the Connected family and welcome back our long-term partners that have supported our company’s mission from the very beginning,” said Sam Ghods, CEO of Connected. “We are steadfast in our development of new, best-in-class genetics and our production of top-quality flower that has resulted in impressive growth and unwavering customer loyalty. That same commitment and quality that we’ve prided ourselves on from day one will stay with us as we enter additional states. We look forward to bringing our true product and brand to consumers in new markets –  that is our highest priority every time we look at expansion.”

 

Connected previously raised $25 million in a Series A round of funding in July 2019. Connected has won several awards for their strains and has experienced monumental 68% year-over-year growth with 75% revenue CAGR through 2021. Connected is currently EBITDA-positive.

 

“Connected’s product quality is unmatched across the cannabis industry, as exemplified by their dedicated mass following,” said Chetan Gulati, Partner of Navy Capital. “The company’s success is largely due to their proprietary genetics as well as their ability to grow premium cannabis efficiently and at scale without compromising on quality. We look forward to seeing the team bring that same top-shelf quality to more U.S. markets.”

 

“Connected is a legacy brand that’s established itself as a market leader based entirely on their unique, premium cannabis strains and flower,” said Joel Magerman, Managing Partner of Emerald Park Capital. “Over the last decade, Connected has built a best-in-class team across departments, from cultivation to marketing. We are eager to see what innovations and additional value the team will bring as they continue on their path to becoming a leading national brand.”

 

Connected and its partner brand, Alien Labs, acquired by Connected in 2017, recently took home a total of five top-ten wins across the Indoor Flower and Live Resin Cartridges categories of the 2021 Emerald Cup – Northern California’s premier cannabis destination and the industry’s most prestigious award. Connected led the indoor flower category with their Gelonade strain taking first place while Alien Labs’ Biskante placed third. Connected also recently won first place in the High Times Cannabis Cup in both the Indica and Sativa flower categories for Biscotti and Gelonade, respectively.

 

About Connected Cannabis Co.
Connected Cannabis Co. has been breeding, growing and selling the best cannabis in the world since 2009. Started with the mission of providing high-quality products paired with excellent customer service, Connected started as Fruitridge Health and Wellness in Sacramento. Co-founded by Caleb Counts, a master grower, the company has created a cult-like following for its celebrated strains, and its indoor flower commands the highest wholesale price in any major legal market. Connected acquired the popular brand Alien Labs in 2017. Today, Connected maintains a portfolio of proprietary top-shelf strains cultivated in state-of-the-art grow facilities in both California and Arizona and operates three stores. For more information, please visit us at www.connectedcannabisco.com.

PR Contact
connected@mattio.com

SOURCE Connected Cannabis Co.

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.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading