Private company Holistic Industries closed on $55 million in funding. The multi-state operator (MSO), which started on the East Coast and has rapidly expanded to the Midwest and West Coast, currently operates in California, Maryland, Massachusetts, Michigan, Pennsylvania and Washington D.C., with numerous licenses pending across the country. Holistic Industries said it will use the funding to accelerate expansion and provide greater access for patients and consumers to its high-quality cannabis products.
“From the highest quality products and store design to putting employees first and managing assets responsibly, we are a true operator with the ambition to be the best place to work, shop and invest in the cannabis industry,” said Josh Genderson, CEO of Holistic Industries. “Our mission is to provide patients and customers access to the safest and highest-quality products possible, and with this latest investment, we will continue to deliver on that mission.”
Founded by Josh Genderson in 2011, Holistic Industries has grown into a national medical and consumer goods company, cultivation and extraction network, and retail dispensary chain. Genderson launched Holistic based on the retail, distribution and brand manufacturing expertise he gained serving as President of Schneider’s of Capitol Hill, the Gendersons’ fourth-generation, family-owned liquor business which is a staple in Washington, D.C. and a leading national distribution company.
CBD Unlimited, Inc. (OTC: EDXC) formerly known as Endexx Corporation (EDXC) secured a stage one $2 million financing program. CBD Unlimited’s three-pronged approach has made headway to its financial targets as a critical piece was completed in its short-term, mid-term, and long-term goals. The past year has provided CBD Unlimited, along with other companies in the Hemp industry, extended opportunities and increased demand with the legalization of hemp-derived products.
“This announcement represents a significant milestone for CBD Unlimited, as “Family Offices” and small institutional investors recognize the value of early investments in this booming CBD industry. The money secures continued growth and its goal of establishing vital retail space in key storefronts nationally,” commented Todd Davis, CEO & Chairman of CBD Unlimited. “We recently surpassed 5,000 stores and the demand has never been higher. Hitting these types of financial targets is what drives the Company forward as we continue to achieve tangible results.”
The company said the proceeds will be used for short-term manufacturing and fulfillment requirements. The funds will be used for inventory production and marketing, while expanding store count nationwide. CBD Unlimited has surpassed its year-end goal of more than 5,000 stores, four months in advance of its forecasted year-end target.