C3 Industries Raises $45M To Support Expansion In Missouri And Massachusetts

Cannabis company C3 Industries just finalized a funding round raising a total of $45 million.

According to Marijuana Business Daily, the AnnArbor, Michigan-based company plans to use the raised capital to introduce its business to the Missouri market where it has obtained six licenses. 

Proceeds will also be used to support C3's expansion across Michigan and Oregon.

C3's expansion plans also include Massachusetts, where its 37,000-square-foot cultivation and production facility is under construction. The company has reportedly ensured two more retail locations in the state.

In Oregon, it is building a distillation and extraction laboratory. In Michigan, C3 is expected to start building a 70,000-square-foot cultivation facility, close to its Webberville facility.

C3 Industries also puts its effort into advancing its management, as it has recently welcomed Samip Shah to its team, as the new COO, the report continued.

Previously, Shah was CEO at Clear Medical Imaging.

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