MJBizMag November-December 2020 - 30

CompanyNews | U.S., Canada & International
Massachusetts Company Nets $4.9 Million
Wareham, Massachusetts-based LDE Holdings, doing
business as Trade Roots, closed a $4.9 million Series A
financing round. Proceeds from the financing will be used
to complete the development of Trade Roots' vertically
integrated 16,000-square-foot facility.
Terrapin Rebrands
Terrapin, a national cannabis
company based in Boulder,
Colorado, has rebranded from
its operating name of Terrapin
Care Station. The company has
nearly 350 employees in three
states-Colorado, Michigan and Pennsylvania-and has
expansion plans for Missouri and New Jersey.
Ethos and 4Front Strike Maryland Deal
Phoenix-based MSO 4Front Ventures, which has
been shifting its focus to adult-use markets, sold
three medical marijuana dispensaries in Maryland to
Philadelphia-based MSO Ethos Cannabis for
$5.5 million. The transaction is part of an $18 million
deal announced in May.
Acreage Raise
New York-based multistate marijuana operator
Acreage Holdings raised $33 million in debt
financing. The three-year loan with an unidentified
institutional lender is unsecured at a 7.5% annual
interest rate.
Acreage said part of the proceeds from the raise will
be used to retire a short-term $11 million convertible
note that was signed May 29 and carried a 15%
interest rate and was secured by the company's
medical cannabis dispensaries in Connecticut.
New Industrial Hemp Facility
Avient Biosciences in Wilson, North Carolina, launched
its 200,000-square-foot industrial hemp research and
extraction facility in October. Avient's 36-acre campus
includes pharmaceutical- and food-grade research and
production, on-site analytical testing laboratories and
climate-controlled biomass storage facilities.
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30 Marijuana Business Magazine | November-December 2020

MJBizMag November-December 2020

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