Gotham Green Partners, LLC, a New York-based private equity firm focused on deploying capital into cannabis and cannabis-related enterprises, just announced a major $15 million USD investment in vertically-integrated Los Angeles, California-based The High Note Inc.
The Gotham Green investment is comprised of funding of $11 million in multiple tranches, along with the rights to fund an additional $4 million based on The High Note Inc. achieving certain performance hurdles.
Founded by Chief Executive Officer, John Jezzini, The High Note Inc. cultivates, extracts, packages, distributes and sells its own, and third-party product, with current operations taking place in its fully-licensed East Los Angeles facility boasting 45,000 square feet of indoor cultivation space.
The investment from Gotham Green Partners will allow The High Note to achieve several strategic goals including the expansion of The High Note’s high-end cannabis lifestyle dispensary brand.
Additionally, Gotham Green’s investment will put The High Note in a position to commence development of its 29.5 acres state-of-the-art cannabis business park in California City providing The High Note with an additional 550,000 square feet of cultivation space.
The location in California City will allow the company to increase its cannabis production to more than 100,000 pounds per annum. One of the largest facilities of its kind, plans include extraction and manufacturing capability, a packaging and distribution center, and an independent testing laboratory.
Jason Adler, Gotham Green Partners’ Founder and Managing Member, said of the decision to invest in The High Note, “John has distinguished himself as a well-regarded, ethical and compliant operator in the California cannabis market. We are excited to be partnering with him and The High Note team as they progress with cultivation and dispensary expansion plans across the California area.”
Jezzini believes that with Gotham Green Partners’ backing, The High Note has the potential to become a leading vertically-integrated cannabis company in California, “Gotham Green Partners truly has their finger on the industry’s pulse. We are excited to have them as partners, since we know that their support is not just about financing. It is, more significantly, about realizing the vision, while allowing it to grow and evolve. There is no limit to what we can achieve together.”
We’ll be watching closely to see how the partnership develops. In the interim, be sure to subscribe to subscribe to our Daily Cannabis News Updates here so you never miss an important update.
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