Blühen Botanicals, a Knoxville, Tennessee-based hemp cannabidiol (CBD) company, received a $30.6m investment from international cannabis business SOL Global Investments Corp. (CSE: SOL) (Frankfurt: 9SB) (OTCQB: SOLCF).
The company intends to use the funds to invest further in expanding its team and capabilities over the coming months and open a second retail location in Fort Lauder-dale, Fla. later this year.
Led by Joe Fox, Co-Founder and CEO, and Erich Maelzer, Director of Horticulture/Co-Founder, Blühen Botanicals is a hemp biomass processing and extraction company with farming and distribution partners across the United States. With a dedicated, pharmaceutical grade hemp research facility, the company works with manufacturers to produce custom formulations for its own blend of boutique wellness products such as full spectrum hemp extract tinctures, capsules, creams, and pet treats and oils.
The company employs expert entomologists, plant pathologists, agronomists, chemists, and engineers on the 30-person team.
The next growth phase of the company includes opening wellness-focused retail locations throughout the country, beginning with its 4,086 sq. ft. flagship store in its hometown of Knoxville, Tenn. The retail store will be Blühen Botanicals’ fifth operation in Knoxville. Blühen’s boutique wellness products will be available for purchase in the Knoxville store and on the company’s website on May 17. The next retail location will be in Fort Lauderdale, Fla. later this year.