From a press release today we learned that our friends at Calyx Peak Capital
have raised $30 Million for investment in cannabis ventures.
Calyx has diligently built a formidable company in the fastest-growing industry. The company is led by a diverse and growing team of experts with backgrounds in the medical, consumer branding, retail, construction, business, and cannabis industries, and 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.
The company recently hired Ed Schmults as its CEO. Schmults, the respected veteran of retail legends Patagonia and FAO Schwarz, is off to a great start putting together the team and resources to make Calyx Peak accelerate.
“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. Over the next year, we plan to further grow our multi-state operations and continue to welcome key hires to our senior team,” said Schmults of the $30 Million funding.
The company's website shows its impeccable 180,000SF grow facility in Santa Barbara, CA.
The largest investor in this round was Altmore Capital, which put in $10Million.
"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."
image source: Calyx Peak Capital