SCOTTSDALE, Arizona., October 9, 2019 / PRNewswire / – Integrated CBD, an institutional and quality supply chain leader for organic hemp-derived CBD, today announced the closing of $ 50 million in senior secured debt and a Series A funding round in a combination of debt and equity financing. Senior debt is managed by a new York hedge fund managing approximately $ 7.4 billion in assets.
As one of the largest organic hemp operators in the United States with approximately 10,000 acres of certified organic land, Integrated CBD seeks to set the highest standards and practices for large-scale sustainable agriculture in the market. fast growing CBD. The new funds will be used to expand operations, including the completion of construction of a 154,000 square foot extraction facility and a large-scale hemp drying facility; and extend the second plantation of this year’s hemp harvest (Arizona can produce 3 crops per year). Expanding sales and marketing efforts through new hires in product development and sales will also be key areas of growth.
Integrated CBD has gained significant momentum this year alone. In January, the company raised $ 3.3 million in a preselection round, followed in March by a 10 million dollars round of seed funding. The company has recruited members of the advisory board of former CEO and Founder of Tourbillon Capital Partners Jason H. Karp and CEO and Co-Founder of Flatiron Health Nat Turner. Integrated CBD is the largest hemp farm in the state of Arizona and made history this summer by planting the state’s first hemp seeds since Prohibition. More recently, the company was one of the first leaders in the CBD supply chain to provide seed-to-shelf production traceability using Organic verified blockchain technology. The integrated CBD extraction plant will be commissioned at the start of the first quarter and the drying facility will be completed by the end of this month. Three thousand acres of hemp are grown this year on two plantations and will be harvested by the end of this year.
“CBD could potentially be one of the most frequently used wellness products this year. Our mission is to be the trusted supplier of organically grown and sustainably sourced phytocannabinoids to the global market because more and more consumers are integrating well-being into their daily lives, “said Patrick horsman, President and CEO of Integrated CBD. “Integrated CBD helps shape the future of wellness by setting auditable and transparent industry standards for safety and sustainability. This funding will help us build and quickly complete operations and infrastructure to fulfill our mission. “
Since January, Integrated CBD has raised a total of $ 78 million in debt and equity. Integrated CBD agricultural land and hemp crops have been approved as USDA Organic by the California Certified Organic Farmers Foundation (CCOF).
About Integrated CBD
Integrated CBD is a vertically integrated, scale and quality institutional supplier of organically grown hemp and hemp-derived CBD. The company grows industrial hemp on one of the largest certified organic farms in the country and is building one of the largest GMP certified and food grade extraction and isolation facilities in the world. Situated at Scottsdale, the company is the largest hemp farm in the state of Arizona. For more information visit Integrated CBD.
SOURCE CBD integrated