Market Overview

Natura Life + Science Finances $91M To Build California Cannabis Campus

Share:
Natura Life + Science Finances $91M To Build California Cannabis Campus

Contract cannabis manufacturer Natura Life + Science has completed a private round of financing for the construction of a large, vertically integrated cannabis campus in Sacramento, California.

What Happened

The company raised $91 million to build a facility that it said will span over 265,000 square feet. Once fully operational, the facility will offer cultivation, manufacturing and extraction, as well as wholesale packaging, distribution, a delivery-only dispensary, branding and marketing services, according to Natura.

The facility will be Leadership in Energy and Environmental Design (LEED)-certified, the company said.

"There were many reasons we chose Sacramento for our FIRST campus," CEO Ori Bytton told Benzinga in a statement. "It's the capital of the great state of California, home to an amazing and experienced agricultural and manufacturing labor base, two local universities, a reasonable cost of living - not to mention an ideal temperature profile and 300 days of sunlight per year."

Why It's Important

Natura said it has obtained conditional permits for cultivation, manufacturing, distribution and the dispensary. It has also applied for 19 corresponding licenses.

The first facility will be able to produce upwards of 80,000 pounds of dried flower per year and process 750,000 pounds of dry material.

Natura plans to make sustainability a core feature of its operations at the new campus. The cultivation process will be aimed at reducing greenhouse gas emissions, with water-efficient irrigation, cooling, collection treatment and reuse of water runoff.

The company said it will focus on helping existing brands scale, but will also seek out cannabis entrepreneurs with ideas that will require help to bring to life.

What's Next

Natura expects to start manufacturing, distribution and delivery in the third quarter of 2019. Cultivation is expected to commence at the beginning of 2020.

Related Links:

The Week In Cannabis: A&F Tries CBD, GW Pharma Soars On Results, Denver Decriminalizes Mushrooms

Ignite International Brands Signs Agreement For Manufacturing, Distribution Of CBD Products In Europe

Photo courtesy of Natura Life + Science.

Posted-In: marijuana Natura Life + Science potCannabis News Financing Markets Real Estate Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!

Cannabis Movers

Sign up for our secret cannabis newsletter!
Never miss out on the breaking news in the Cannabis Industry!

Hemptown USA Completes $17.2M Financing Round

The Daily Biotech Pulse: Further Delay in Roche's Spark Acquisition, FDA Nod For Regeneron, Solid Biosciences Sinks On Earnings