Cannabis Cultivator And Distributor Stability Cannabis Raises $44M Via Series A Round, Enters Missouri

Stability Cannabis, an indoor cultivator of medical cannabis, raised some $44 million through its Series A funding recently.

The Oklahoma City-based company reported Thursday it had acquired a stake in a Missouri-based cultivation, processing and retail operation simultaneously with the closing of the funding round.

“The accelerating growth and profitable operating profile of Stability Cannabis continue to be remarkable, and this latest round secures growth capital as well as multiple high-value production assets,” the company’s CEO Denver Kitch said.

In addition, the Journal Record recently named Kitch one of Oklahoma’s “Most Admired CEOs.”

The newly obtained minority equity position in the cannabis operation boosted Stability’s production capacity, which now includes 60 acres of greenhouse and outdoor cultivation capacity, high-tech indoor cultivation spanning 95,000 square feet, as well as kitchen and a specialized processing lab that manufactures products under the Perfect Ratio brand, added David Lewis, the company’s COO.

Named among the top five “Best Cultivation Companies to Work For” in America by Cannabis Business Times, Stability Cannabis has been strengthening its leadership team over the last year. Retail expert Trey Hughes joined the company in August to manage its retail operations. In mid-July, the company promoted Drew Clayton to vice president of operations.

“We love calling Oklahoma home as we sustainably expand our network of cultivation and distribution sites to serve as many patients as possible,” said Austin Clay, chief cultivation officer of Stability Cannabis. ”It remains a priority to nurture a culture that makes working at Stability a joy for our more than 130 employees.”

Photo by Kym MacKinnon on Unsplash