Sanitas Peak, a Boulder, Colorado-based investment group, said it has placed a $3 million debt facility with Colorado Cultivars, a producer of industrial hemp.
Proceeds from the loan primarily will be used to develop production and processing facilities at the company’s main farm in Eaton, Colorado.
More details can be found here.
Colorado Cultivars grew 1,500 acres of hemp in 2018 and plans to expand that to 4,000 acres this year, half of which will be certified organic hemp.
Sanitas launched a $50 million private equity hemp fund in December 2018.