Cannabis Cultivation Services Firm Lands $5.5M Investment

Two Rivers Water & Farming, a publicly traded water management and agricultural company in Denver, has raised $5.5 million to support a subsidiary that builds greenhouses for cannabis cultivators, according to a statement.

There were “20-some-odd” accredited individual investors, according to Two Rivers’ Chief Financial Officer Wayne Harding. The largest single investor put in $2 million, while the minimum investment was $10,000.

The Two Rivers subsidiary – GrowCo – will use the money “for completing the first greenhouse, the construction of a second greenhouse and the funding of a GrowCo subsidiary that provides administrative services and financing for GrowCo’s greenhouse tenants,” the Two Rivers statement said.

Two Rivers owns approximately 50% of each greenhouse and 50% of GrowCo’s tenant financing and services company.

GrowCo does not cultivate marijuana itself but provides infrastructure, growing materials and administrative services for licensed marijuana tenants, the statement said

The company raised $4.4 million last January to start construction on its first marijuana greenhouse in Pueblo County, Colorado.

3 comments on “Cannabis Cultivation Services Firm Lands $5.5M Investment
  1. Rik Gagnon on

    These big grows will only hurt the small guys. What is happening in Wash right now is the large outdoor grows are flooding the market with cheap weed. Supply is going to outstrip demand. Crater time

    Reply
  2. Brett Roper on

    Good to hear but I thought this latest raise may have been for a second greenhouse, not paying for the 1st one that was supposed to already be operational? (See June 4, 2015 PR).

    Reply

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