fbpx
QQQ
-2.49
316.84
-0.79%
DIA
-2.00
312.11
-0.64%
SPY
-2.91
381.49
-0.77%
TLT
+ 0.60
150.62
+ 0.4%
GLD
-2.07
175.30
-1.19%

Trade Roots Secures $4.9M In Financing

October 14, 2020 1:24 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Trade Roots Secures $4.9M In Financing

Cannabis company Trade Roots raised $4.9 million in Series A financing.

The company intends to utilize proceeds to finalize the development of its vertically integrated facility in Wareham, which spans 16,000-square-feet and is poised to open in the second quarter of the next year.

Board member and Trade Roots backer Greg Wirsen said the round is a "testament to the strength of both Trade Roots' go-to-market strategy and its growth potential."

Trade Roots, which raised the funds under LDE Holdings LLC, provides Massachusetts residents with adult-use cannabis products.

It's also a Social Equity Program Participant.

Trade Roots co-founder and CEO Jesse Pitts was "pleased with the response" and praised the team's "hard work."

Law firm Foley Hoag LLP advised Trade Roots throughout the process.

Courtesy image

Posted-In:

Cannabis News Markets

Related Articles

Michigan Cannabis Sales Near $1B In First Year Of Adult-Use Sales

Cannabis sales in Michigan spiked during December, bringing the total to $984.6 million for 2020. read more

Cantor Analyst Raises Aphria And Tilray Price Targets Amid Merger

Cantor Fitzgerald analyst Pablo Zuanic expressed disappointment by Aphria Inc. (TSX: APHA) (NASDAQ: APHA) quarterly results in an analyst note published Friday. read more

Cannabis Movers & Shakers: Next Green, Cannabis Control Commission, Willow, TruTrace, HEXO, Bengal Capital, MediPharm Labs, NIHC

Here is a summary of the latest leadership changes within the cannabis industry. read more

French Energy Firm Backs Hemp-Fueled Gas Plant With $23M

French energy company Qairos Energies is financing a project that will use locally grown hemp for the production of hydrogen and methane, according to HempToday. read more

Jay-Z Touts 'End Of Cannabis Prohibition' As Roc Nation Finalizes SPAC Deal With Caliva, Left Coast Ventures

A consortium made up of CMG Partners Inc., Left Coast Ventures Inc. and Shawn Carter (Jay-Z) —with his company Roc Nation — has finalized its previously announced transaction with Subversive Capital Acquisition Corp. (OTCQX: SBVCF). read more