Green Peak Innovations, a medical marijuana company based outside of Lansing, has closed on investment of more than $30 million in an oversubscribed mezzanine debt round consistent with its planned expansion in Michigan and beyond.
“This is an important step for Green Peak Innovations as Michigan’s largest holder of vertical medical marijuana licenses,” says Jeff Radway, CEO of Green Peak. “Significant demand resulted in exceeding our planned funding goal in record time.” he continues.
Green Peak Innovations is fully licensed by the LARA Bureau of Medical Marijuana Regulation as the largest holder of “Class C” cultivation licenses, processing, and has plans in place to open 19 provisioning centers. The company anticipates opening the first of its 19 Skymint-branded provisioning centers within the next few months.
“Our first priority is to solidify our position as the state’s premier cannabis company that supplies Michiganders with the safest, highest quality products,” explains Radway. “Only then can we begin our next step of taking our proprietary and scalable model to other states.”
Green Peak has a 60,000-square-foot headquarters facility in Windsor Charter Township a research and development site nearby. Plans call for expansion of the Windsor facility up to two times its current footprint.
“Our investors participated in this funding based on the team we’ve built, our business and financial strategy, and the assets we have amassed,” says Al Gever, CFO of Green Peak.