Holistic Industries, a vertically-integrated cannabis operator in the U.S., closed $35 million in debt financing in an oversubscribed round of funding led by Altmore Capital.
The company’s regional approach and local focus allow for expansion while maintaining the company’s core values and goal to be the best place to work, shop and invest in cannabis.
The investment will fund internal expansion projects already in progress, future pursuits including new licenses and distressed asset opportunities, and investments in local communities.
This will be the only debt on the company’s balance sheet.
“Because of our approach to go deep in specific limited-license states and scale responsibly by investing heavily in the local communities where we operate, we’ve seen continued growth and dominance regionally including expanding the footprint of our retail brand — Liberty Cannabis,” said Holistic Industries CEO Josh Genderson.
Holistic started on the East Coast and has methodically expanded to the Mid-Atlantic, Midwest and West Coast, currently operating in California, Maryland, Massachusetts, Michigan, Pennsylvania and Washington D.C., with additional licenses won in Missouri and numerous merit-based competitive license applications in process.