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Sweet Leaf Madison Capital, a nationwide provider of customized debt solutions for the middle-market cannabis industry, has provided Cultio a loan of $116,000 for equipment purchases.
Founded and operated by Derek M. Chaney and Marina L. Morbeck, Cultio is a cannabis startup in Leslie, Michigan that is expanding into the cannabis processing and consumables market. The loan will allow Cultio to buy extraction equipment from Extraction Tek, which designs, engineers and fabricates stainless-steel hydrocarbon and ethanol extraction solutions and post-processing equipment for cannabis processors.
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“It is no stretch to say that this equipment will be mission critical to Cultio’s operations. Going forward, our attention will primarily be on extraction, so we can deliver the highest-quality hydrocarbon-derived concentrates and edibles,” Chaney stated. “We are grateful to have found a trusted and transparent source of capital.”
Andrew Kaye, chief commercial officer of SLMC, stated: “Cultio really understands their market, we are incredibly impressed by Cultio’s relentless focus on excellence in every part of manufacturing their product, from which plants genetics they select, to what the final product looks like on display. We can’t wait to see how they help shape the consumables space.”
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Photo: Benzinga edit with photos by geralt and lindsayfox on Pixabay
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.