It’s no secret there is big money to be made from the burgeoning green rush, with millions, if not billions, just waiting to be plucked from the lush buds of growing cannabis plants throughout the country.
One such Southern California grower recently raised $6.5 million from investors eager to get into the game. It is reportedly the largest seed round on record for a local marijuana grower.
Canndescent, a self-described “cultivator of premium cannabis flower,” plans to turn that hefty chunk of change into a warehouse-sized grow operation in Desert Hot Springs, which voted in 2014 to allow conditional-use permits for cultivation centers. The Santa Barbara–based company will be the city’s first commercial business to take advantage of the ordinance. Canndescent plans to open a series of facilities in the desert over the next two years. The first one will hold a ribbon cutting later in September.
