The Company, Associated With Surterra Therapeutics, Has Raised About $30 Million In Equity, According To Bergmann.

Do we expect to be profitable? Yes, absolutely. But I dont know when that will be, said Don Clifford, CEO of Polk County operator GrowHealthy. Just to recover our costs is going to take significant time. In its only public disclosure, affiliate GrowHealthy Holdings acknowledged bringing in 11 equity investors for $4.7 million nearly two years ago, before the company won a lawsuit that forced the state to issue a cultivating and dispensing license. Clifford said GrowHealthy has invested tens of millions of dollars into the business, which expects to begin growing marijuana this month in a section of a 200,000-square-foot cultivation facility converted out of a former Sealy Mattress factory. All the money weve brought in and continue to bring in goes toward the development of our new facility, preparing for dispensaries, those kinds of things, said Clifford. No one has sold out any of their shares or anything at this point. They never should have been picked, and theyre not Medical marijuana stocks qualified applicants. If they had enough money they wouldnt be shopping their licenses Louis Rotundo, lobbyist for interested marijuana operators Similarly, Jake Bergmann, a private equity fund manager who founded Surterra Holdings, said the company is seeking high net-worth investors in order to raise the money needed to expand production and cultivation facilities and open retail outlets. The company, associated with Surterra Therapeutics, has raised about $30 million in equity, according to Bergmann. Our investors are really buying into that big vision of being disruptive in the pharmaceutical space. Thats the pitch, said Bergmann, who dismissed Rotundos suggestion that operators shouldnt be allowed to raise capital.

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