With much of the world still unsure about which direction the future of the cannabis industry is headed, a single announcement out of Colorado may have just put a huge marker on the map.
Mile High Labs raised a record-breaking $35 million in their latest round of financing for the expansion of their CBD extraction facilities. They happen to already be one of the biggest names in the CBD sector, but the sheer amount of money pouring in for their expansion shows just how many powerful people from outside of the cannabis industry believe in the future of extracts.
Anyone who’s paying attention to the cannabis industry can already see that CBD is growing at a significantly higher rate than the rest of the market, and although it hasn’t overtaken flower sales just yet, it’s primed to do that in the near future. In other words, there’s a reason so much money is pouring into a company that specializes in CBD.
The other aspect to note in this influx of money is that — unlike what we’re seeing in California and other recently legalized states — Mile High Labs is a known commodity in a mature market. That legitimacy brings in a more conservative class of investor looking for smart choices than randomly gambling on a new brand, which is exactly what we’re building on with the business experience and intelligence behind Gladbrook Holdings.
For those of us here at Gladbrook Holdings, the growth of CBD is something we’ve kept a particularly keen eye on. Considering it’s astronomical ceiling and potential, we’re eager to determine our place in California’s CBD market and believe there’s no reason we couldn’t also be a player on the national and global scale by the time the local market has matured to the point of Colorado’s.