Published in Food/Agribusiness

Lansing cannabis firm secures $10 million in mezzanine financing

BY MIBIZ STAFF Thursday, September 26, 2019 04:39pm

LANSING — Medical marijuana provider Green Peak Innovations LLC closed on $10 million in mezzanine financing to support expansion in Michigan and elsewhere.

According to a statement, Canaccord Genuity and Beacon Securities, both based in Toronto, Ont., served as co-lead agents for the funding round.

Jeff Radway COURTESY PHOTO

“With our fourth store opening this month and another 13 scheduled to open over the next six months, we are poised to significantly ramp our sales and operations in the coming months,” Jeff Radway, CEO at Lansing-based Green Peak Innovations, said in a statement. “We are well on our way to becoming Michigan’s premier cannabis company as the recreational market opens up next year.”

Green Peak Innovations also operates two marijuana indoor growing facilities in the state, and cultivates, processes, markets and distributes branded cannabis products.

The latest round follows $30 million in mezzanine financing the company raised in March, as MiBiz previously reported.

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