$65M Raised To Secure
Mountains Of Hemp
With the global demand for CBD rapidly increasing, Mile High Labs is securing the quality biomass needed to continue supplying the world.
The $65M term loan facility represents one of the largest non-dilutive capital raises in the sector to date, and ensures that we maintain a steady supply of hemp to keep up with our skyrocketing production capacity.
“Following the signing of the Farm Bill in late 2018, we started seeing speculators take out significant portions of the available hemp supply. So we acted decisively to secure the single largest source of high-quality biomass available. It is quite literally a mountain of hemp – millions of pounds – and this funding guarantees we can continue to meet the increasing demand for CBD from our customers.”
Jon Hilley, CFO of Mile High Labs
Danny Moses, best known for his portrayal in The Big Short, is an investor in Mile High Labs and also consulted on the non-dilutive financing from MGG Investment Group.