Canndescent, a Santa Barbara, CA-based cultivator of premium cannabis flower, closed a $6.5m seed funding round.
The round was led by Texas investor Lee McPherson and Canndescent CEO Adrian Sedlin, with participation from Adam Cohen, CEO of MJardin, a large management company in the cannabis industry.
The company intends to use the funds for working capital, marketing, and additional property, plant and equipment.
Canndescent has created a brand of cannabis flower produced, packaged and distributed in accordance with all state and local laws.
Next month, the company will open a facility in Desert Hot Springs, CA, which will operate with a municipally issued conditional use permit specifically for cultivation.