Calyx Peak Companies Raises $30 Million for the Expansion of Its Cannabis Operations and Brands
Altmore Capital Commits $10 Million Toward Calyx Peak Companies' Fundraising
LOS ANGELES, December 19, 2018 (Newswire.com) - Calyx Peak Companies, a multi-state operator, announces it has raised $30 million in investments in its current fundraising round towards the expansion of its cannabis operations and brands this year. The largest commitment comes from Altmore Capital, a real estate private equity fund, at $10 million.
"Altmore Capital is proud to be a capital partner to Calyx Peak Companies,” says Patrick Kim, co-founder of Altmore Capital. “Accessing debt and other capital is one of the many challenges cannabis operators must overcome in order to grow. We look forward to working with Calyx Peak Companies and its management team, as it continues to build a leading position in this fast-growing industry."
Led by a diverse team of experts within the medical, consumer branding, retail, construction, business, and cannabis industries, Calyx Peak Companies operates multiple cannabis-centric operations in California, Ohio, and Nevada. Calyx Peak Companies already manages seven permits and 250,000-square feet of cultivation, extraction, and distribution facilities. It is also the proud partner of lauded cannabis brand Josh D Farms, founded by one of the originators of Los Angeles’ OG Kush movement and second place finisher at The 2018 Emerald Cup in the Licensed Mixed Light Flower Category.
“This is an exciting time for the legal cannabis industry, and we are honored to have the support of forward-thinking investors, such as Altmore Capital, as we enter the next stage of expansion,” says Ed Schmults, CEO of Calyx Peak Companies. “Over the next year, we plan to further grow our multi-state operations and continue to welcome key hires to our senior team.”
“Our passion lies in bolstering entrepreneurs and businesses leading the legal cannabis revolution. Already, we operate cultivation, processing, and distribution facilities in three states with pending operations in Massachusetts. Additionally, our house brand, Josh D Farms, offers consumers a direct and specialized link to one of the most popular cannabis varietals ever,” says Michael Bang, chief investment officer for Calyx Peak Companies. “The capital raised this year will finance our continued expansion across North America.”
To learn more about Calyx Peak Companies, please visit http://calyxpeak.com.
About Calyx Peak
Calyx Peak is a leading multi-state operator looking to lead the legal cannabis revolution. As a multi-state operator, Calyx Peak operates over 250,000 square feet of cultivation, extraction and distribution facilities across multiple states. The company launched with a small investment in Nevada and quickly expanded to seven permits in four states (1 pending). Calyx Peak Companies continues to invest in its brands and operations in its drive to achieve a dominant position in the rapidly evolving cannabis market. For more information, please visit http://calyxpeak.com.
Source: Calyx Peak Companies