Marijuana Business Magazine November-December 2019

November-December | mjbizdaily.com 27 Viola’s expansion into the Michigan market with its 48,000-square-foot operation, a 32,000-square-foot cultivation facility in Adelanto, California, as well as an emphasis on its new-hire build-out. GB Sciences Bids Louisiana Goodbye Nevada-based GB Sciences , which has been under contract with Louisiana State University to cultivate medical marijuana, sold its 50% ownership stake in GB Sciences Louisiana . The stake was to be purchased by Wellcana Plus , a Lafayette, Louisiana- based company that holds the other 50% of the operation, by the end of October. The $16 million sale included $7 million in cash at closing, $1 million in cash within 60 days of closing and the remaining $8 million as an earnout. Flower One Opens Production Lab in Nevada Flower One Holdings , a cannabis cultivator and producer in Nevada, announced the launch of its cannabis production lab, which will operate alongside the company’s 400,000-square-foot greenhouse. The new production space encompasses approximately 55,000 square feet and can readily consume 3,000-5,000 pounds of biomass per week, with distillate processing from its ethanol-extraction train in the 100- to 150-liter-per- week range. Beyond extraction, the lab will engage in refinement, compounding and commercial-kitchen- related activities, including ongoing optimization via data-driven, continuous-improvement processes. Future State Raises $25 Million Los Angeles-based Future State Brands , a consumer brands cannabis holding company, secured a $25 million funding led by Cresco Capital Partners, which rebranded as Entourage Effect Capital . Future State Brands has a portfolio of hemp, THC and CBD brands in a variety of sectors, including beverage, clothing and cosmetics. The proceeds will be used by the holding company for product development and potential acquisitions. Dallas-based Entourage Effect Capital is a cannabis- focused investment group that has allocated at least $85 million to the industry since its inception in 2014. WWW.EXERGYLLC.COM Exergy Designs & Manufactures HeatTransfer Solutions for the Global Market Any fluid process requiring fine temperature control and pharmaceutical grade components is ideal for Exergy heat exchangers. Exergy is the leading provider of heat transfer solutions to pharmaceutical manufacturers across the globe, from R+D through to production. HEAT EXCHANGERS FOR FLUID PROCESSES • Extraction Applications • Pharmaceutical Grade Components • FineTemperature Control • 316L Stainless Steel Tube-in-Tube Heat Exchangers • 10 GPM (38 LPM) • 4,500 PSI (310 BAR) Shell &Tube Heat Exchangers • 250 GPM (946 LPM) • 1,500 PSI (104 BAR) ISO 9001:2015 CERTIFIED QUALITY MANAGEMENT SYSTEM CRN REGISTERED • 100,000 BTU/HR (29 k W) • 5,000,000 BTU/HR (1465 k W)