The 1937 Group, a Chicago, IL-based cannabis company, raised $17M in funding.
The round was led by SGG Enterprises LLC. The terms of the agreement establish a disbursement schedule of $13M in equity shares and $4M as a debt note.
The company intends to use the funds to build-out current assets, and buy and build-out additional Illinois-based cannabis establishments.
Led by CEO Ambrose Jackson, The 1937 Group is a minority-owned, vertically integrated cannabis company which currently owns several Illinois cannabis licenses, including Retail, Cultivation and Transportation.
The Group was established to be the parent company for multiple Illinois licensed cannabis companies, including a 52,000 sq ft cultivation operation currently under construction (Helios Labs), a retail operation (Parkway Dispensary), and a cannabis transportation company (Highwaymen Security). The company is also in the process of securing an additional Craft Grow license and four (4) additional Illinois retail dispensary licenses.
FinSMEs
31/08/2022