EcoGen plans to use $40 million private placement for consolidation
Industrial Hemp NewsMarijuana Laws, Regulations, & Politics February 4, 2020 MJ Shareholders 0
Colorado hemp grower and CBD manufacturer EcoGen Laboratories raised $40 million in a private placement, saying it will use the funds to consolidate operations and start producing white-label CBD products in a former steel plant in western Colorado.
The company said it plans to consolidate operations and extraction in a new headquarters in Grand Junction, Colorado.
“We’re really making this our central location,” EcoGen Facilities Development Director Keith Ehlers told The (Grand Junction) Daily Sentinel about its new headquarters plan.
The company plans to keep operating a greenhouse facility about 20 miles east of its headquarters and a 300-acre farm near the Colorado-Utah state line.
EcoGen Manager Ted Kelley said the company has grown from around 70 employees last spring to more than 200 employees today.
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