Gotham Green Partners invests over $40 million in North American cannabis
The High Note Inc., a cannabis cultivator based in Los Angeles, announced on Monday that they would receive a $15 million investment from Gotham Green Partners, with $11 million coming several tranches and an additional $4 million expected should certain performance goals be met. High Note plans to fund their new cannabis business park that spans over 29 acres in California City. The park includes 550,000 square feet of cultivation space as well as potential extraction facilities, a distribution center, and an independent testing lab.
John Jezzini, founder and CEO of The High Note, plans to use part of the investment on improvements to the brand’s east Los Angeles flagship space, giving visitors the opportunity to see the seed-to-sale process up front.
“John has distinguished himself as a well-regarded, ethical and compliant operator in the California cannabis market,” Jason Adler, managing partner at Gotham Green, said in a statement. “We are excited to be partnering with him and The High Note team as they progress with cultivation and dispensary expansion plans across the California area.”
Gotham Green invests in Cannex
Last week, Gotham Green invested $32 million in Cannex Capital Holdings (CSE:CNNX) (OTCQX:CNXXF) to help fund their expansion into additional American cannabis markets.
“As an early cannabis mover in the Pacific Northwest, Cannex has successfully built a large, efficient and profitable business in Washington State...The Company’s core focus on deep operations knowhow including extraction, processing, distribution, and consumer brands provides a compelling growth and investment opportunity,” Adler said of the company.
Details regarding Cannex’s expansion are spelled out in the company’s press release, including funds for retail acquisitions in additional states as well as cross-licensing that will keep the company’s brand in line with the regulations of multiple states.
“We are pleased to have Gotham Green Partners as an investor and look forward to working closely with them as we identify and execute on new opportunities for growth and brand building,” said Leo Gontmakher, COO of Cannex in a statement.
“Cannex is preparing to scale its business in additional key states and to leverage our operational expertise. We are thrilled to be working with an investor who shares our vision and values the importance of operations. GGP has a robust network of contacts and an excellent pipeline of opportunities and brings enormous value to Cannex,” continued Gontmakher. “We are better prepared than ever to aggressively ramp our business plan.”