Proactive Investors - Run By Investors For Investors

Chemistree Technology to lend US$450,000 to California cannabis processing partner

The parties also plan to negotiate a line of credit for working capital, according to Chemistree
A woman holding a marijuana plant
Chemistree and a cannabis processor with a Type 6 license from the state of California are teaming up

Cannabis investment firm Chemistree Technology Inc (CNSX:CHM) said Tuesday it is teaming up with a cannabis processor in Humboldt County, California, and plans to lend the company US$450,000.

Vancouver-based Chemistree said in a press release that it expects the processor to buy additional equipment and make tenant improvements to its facility. Chemistree and the California processor also plan to negotiate a line of credit for working capital.

READ: Chemistree Technologies targets burgeoning cannabis market as legalisation expands across North America

The processor holds a Type 6 (non-volatile solvent extraction) license from the state of California, according to Chemistree.

“Chemistree can provide capital and management depth to rapidly expand the processor's business, both in the local Humboldt area, across the state of California and, ultimately, into new jurisdictions across the United States where legal cannabis processing and product development is in formative stages.”

The processor uses Apeks supercritical carbon dioxide extraction to produce cannabis oil, terpene profiles and other products on behalf of cannabis cultivators, other manufacturers and processors throughout northern California, according to Chemistree.

Shares climbed C$0.02 to C$0.47 in Tuesday’s Canadian trading.


Contact Dennis Fitzgerald at [email protected]

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full CHM profile View Profile

Chemistree Technology Inc. Timeline

Related Articles

cannabis extract
January 16 2019
The Kelowna, BC-based cannabis company specializes in the research, development, production, and testing of high-quality cannabis extracts and oils
cannabis plan in sun
February 21 2019
The cannabis company will manufacture, infuse and package branded recreational and wellness products
cannabis plant
December 14 2018
The Vancouver-based cannabis group services medical and recreational cannabis markets in Canada and internationally
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use