California’s Indus secures $14.5 million for cannabis expansion

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Indus Holdings, a California-based vertically integrated marijuana company, said it secured up to $14.5 million in loan financing to complete a greenhouse and boost the company’s profitability path.

Indus, which said it will close the deal in April, also will use the proceeds for renovations and as general working capital “to become profitable and self-sustaining.”

Geronimo Capital and Merida Capital are providing the financing.

Geronimo is led by George Allen, the former president of multistate marijuana operator Acreage Holdings.

Last May, Indus, which trades on the Canadian Securities Exchange as INDS, announced its intention to expand its operations outside of California to Nevada and Oregon.

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