Fluresh Completes Historic Cannabis Industry Financing With $48 Million In Engagements From Federally Chartered Bank

Apr 27, 2022•over 3 years ago

Grand Rapids

Description

Fluresh LLC, one of the largest vertically integrated cannabis operators in Michigan, announced today the closing of a senior secured note with a federally regulated commercial bank headquartered in southeast Michigan. The secured Bank Note closed on December 28, 2021, and is for aggregate gross proceeds of $25 million. The Bank Note has a variable interest rate and, at the time of closing, bore an interest rate of 5.75% per annum with 50% of the aggregate proceeds capped at 7.0%.

Company Information

Company

Fluresh

Location

Grand Rapids, Michigan, United States

About

www.fluresh.com Fluresh LLC is a Grand Rapids based cannabis company founded in January 2018 with 335 employees across two state-of-the-art cultivation facilities in Adrian and Grand Rapids, Michigan. Fluresh operates one dispensary and distributes product to over 200 retail locations statewide. Fluresh is committed to promoting social equity through many initiatives focused on equitable workforce development, advocacy and service, and environmental sustainability. Our flagship social equity program, Fluresh Five Accelerator, is designed to give minority participants interested in being in the cannabis space direct access to mentorship and resources from our team of experienced professionals in Grand Rapids, MI. Our team is committed to keeping inclusion, accessibility, and sustainability at the forefront of the cannabis industry by partnering with organizations who are committed to changing our industry for the better. As we grow, we will continue to have a positive impact on the communities we serve and help those affected by outdated policies and practices. To learn more about Fluresh, visit Fluresh.com or contact Fluresh at info@fluresh.com. With your help, we can continue #flureshingtogether.