Mile High Labs, a Boulder, Colorado, extractor of CBD, closed a $65M term loan facility.
MGG Capital provided the financing, which follows the Series A equity raise, completed during the fourth quarter of 2018.
The funds were raised to consolidate significant portions of the available hemp supply.
Founded by Stephen Mueller and led by Jason Roth, CEO, and Jon Hilley, CFO, Mile High Labs is an industrial-scale CBD ingredient manufacturer offering delivery of bulk CBD and co-packing services to leading consumer brands. With an end-to-end GMP certified extraction facility and extensive network of contracted cultivators, the company supplies high-quality, high-volume CBD orders year round.
It extracts exclusively from industrial hemp flower material.