Edibles Company Seeks $5M in Private Stock Offering for Expansion

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Infused products manufacturer G FarmaLabs is looking to raise $5 million though a private stock offering to expand its presence in California and pave the way for national growth.

The company plans to sell up to 2 million shares of common stock – at $2.50 each – to qualified investors in California, according to a prospectus it shared with Marijuana Business Daily. The minimum purchase: $5,000, which equates to 2,000 shares.

Investors must be residents of California and meet certain financial requirements, as outlined under state law.

, Edibles Company Seeks $5M in Private Stock Offering for Expansion

The company plans to use the money to expand its kitchen and manufacturing plant in the Los Angeles area. In particular, G FarmaLabs wants to bolster its current workforce of 40 staffers and buy automation machinery for packaging and bottling.

If all goes as planned, the company will likely make a similar offer in Washington State, where it’s in the process of getting a business license to start manufacturing its products. And if Florida legalizes medical marijuana this November, G FarmaLabs intends to target that state as well for expansion.

The company’s CEO, Ata Gonzalez, spoke with the Marijuana Business Daily in June about some of his plans.