OKLAHOMA CITY, May 20, 2021 /PRNewswire/ -- Leading cannabis cultivator and distributor Stability Cannabis has successfully closed a $44 million series A funding round; acquires minority equity position in Missouri cannabis operation.
"The accelerating growth and profitable operating profile of Stability Cannabis continues to be remarkable, and this latest round secures growth capital as well as multiple high value production assets" said chief executive officer Denver Kitch. "We are proud to continue to create exceptional value for our shareholders" he added.
Established in 2018 as the largest indoor cannabis cultivator in Oklahoma, Stability Cannabis now expands to a multi-state footprint as one of the largest cultivators and distributors in the American Midwest.
"Stability's production capacity now includes 60 acres of greenhouse and outdoor cultivation capacity, 95,000 square feet of high-tech indoor cultivation, as well as an edibles kitchen and a specialized processing lab producing products under our Perfect Ratio brand. Our retail profile expands to multiple high-volume dispensaries" said chief operating officer David Lewis.
Stability Cannabis was recently named by Cannabis Business Times as one of the top five "Best Cultivation Companies to Work For" in America, while CEO Denver Kitch was named by the Journal Record as one of Oklahoma's "Most Admired CEO's".
Stability Cannabis also acquires a minority equity position a Missouri based cultivation, processing and retail operation. The transaction remains subject to regulatory approval.
"We love calling Oklahoma home as we sustainably expand our network of cultivation and distribution sites to serve as many patients as possible. It remains a priority to nurture a culture that makes working at Stability a joy for our more than 130 employees. We know those priorities work hand in hand" added chief cultivation officer Austin Clay.
About Stability Cannabis
Oklahoma City based Stability Cannabis operates one of the largest cannabis cultivation, processing and retail operations in the American Midwest and provides a diverse array of award-winning cannabis products to retail dispensaries and processors. Learn more at StabilityCannabis.com.
SOURCE Stability Cannabis