• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Harborside's Management Company Raises $5 MM in Series A Financing

May 1, 2018

 

FLRish, Inc., a California-based cannabis company that manages the Harborside retail dispensaries and brands, as well as one of the state’s largest cannabis cultivation facilities, today announced a $5,000,000 qualified equity financing that is part of a larger $6,500,000 Series A financing. 

 

Harborside, founded in 2006 by Steve DeAngelo, is the most respected and largest cannabis dispensary in the United States. With over 200,000 registered consumers, Harborside was first in the country to support education for seniors, veterans and families with severely ill children as well as first in the country to offer CBD-rich cannabis strains. 

 

The capital raised from Cresco Capital PartnersQuinsam Capital Corporation (CSE:QCA) and others will be used to fund the company’s expansion of its retail management platform to additional cannabis retailer clients, continue the build-out of its cultivation facility, and for general working capital and corporate developments.

 

Andrew Berman, FLRish’s Chief Executive Officer, said, “This Series A provides us with the opportunity to bring onboard as shareholders a significant number of convertible debt holders who have supported the company since its inception, for which we are very grateful. These are tremendously exciting times for the company, our trusted staff and the industry, and we’re watching the developing, fully regulated market in California unfold. We see strong growth in consumer demand and in the area of branded products, a market in which the Harborside and Key brands are market leaders and very well positioned. Trusted brands will become increasingly important for our consumer. As one of the first dispensaries to voluntarily advocate for and implement cannabis product testing, Harborside has always been committed to building and maintaining the trust of our patients, and now, adult-use customers.”

 

“With the advent of adult-use on January 1, 2018, it was important to me to raise capital for the company to enable our expansion and to take advantage of the many compelling opportunities that I was seeing. We’re also proud and delighted to be voted the ‘Best Dispensary in California’ in 2017, a testament to our customer experience, value for money, trusted range of choice and advice, and superb staff,” said FLRish Chairman Emeritus Steve DeAngelo. 

 

Aside from starting Harborside, Steve DeAngelo is also co-founder and President of the Arcview Group, a company formed to introduce investors to the cannabis community, and vice versa. As one of Fortune Magazine's "Top 7 Most Powerful People in the Marijuana Industry," DeAngelo also authored The Cannabis Manifesto: A New Paradigm for Wellness.

 

To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!

 

D/M/O

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.