Tagged: building integrated agriculture

Vida Cannabis sold $440,000 worth of securities to US investors


vida cannabisAccording to a document filed with the Security and Exchange Commission, Vida Cannabis sold a total of $440,000 in a non-brokered equity investment round to US investors. The transaction which started on April 29th, garnered the support of seventeen investors. The company raised a total of $2.5 million in mid-April and the amount disclosed to the SEC is probably the portion of the offering subscribed by US investors.

The company is a medicinal marijuana producer. The company’s goal is to develop a major production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana. The company is focusing on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marijuana for Medical Purposes Regulations.

The company, headquartered in Toronto Canada, was registered this year. Revenues were not disclosed.

The executive team includes Gary Harbottle, J Gregory Wilson and Ricardo Faria.
The board of directors includes Christine Fard, Christopher Hansen, Michael Stocker and Ronald Holland.

Offering recap
Status: Completed
Company: Vida Cannabis
Industry: Other
Amount offered: $440,000
Amount placed: $440,000
First sale: 04-29-2014
Data as of: 05-13-2014

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Vida Cannabis raises $2.5 million via equity issuance


vida cannabisVida Cannabis  upped and completed its $2.5 million equity offering according to information released on April 15th by the company. The company had originally secured a $1 million seed financing from Canadian investors in early March. According to an SEC filing $35,000 was raised in the US from three financial backers on March 20th. No offering was previously initiated by the company under a registration exemption with the SEC.

The company is a medicinal marijuana producer. The company’s goal is to develop a major production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana. The company is focusing on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marijuana for Medical Purposes Regulations.

The company, headquartered in Toronto Canada, was registered this year. Revenues were not disclosed.
The executive team includes Gary Harbottle, J Gregory Wilson and Ricardo Faria.
The board of directors includes Michael Stocker and Ronald Holland.

Offering recap
Status: Completed
Company: Vida Cannabis
Industry: Other
Amount offered: $2.5 million
Amount placed: $2.5 million
Data as of: 04-16-2014

Aeroponic equipment manufacturer raised an additional $30,000


indor harvestIn a document filed with the SEC, Indoor Harvest reported still being in the market with its $500,000 equity offering which is 43% subscribed as of the filing date. Prior investors ponied up an additional $30,000. They had previously subscribed to $190,000 in securities according to another filing disclosed last Thursday. So far, twenty-six backers committed $220,000 to Indoor Harvest’s offering. Based on the offering’s structure the subscription is scheduled to close in six months at the latest. The company closed one unregistered private placement which raised an estimated $50,000.

The company is an equipment designer, developer, marketer and direct-seller of commercial grade aeroponic fixtures and supporting systems for use in urban controlled environment agriculture (CEA) and building integrated agriculture (BIA). It offers individual original equipment manufacturer (OEM) fixtures and value added components that can be combined in a variety of ways allowing full customability of installation. Indoor Harvest is focusing on the underserved middle market between hobby and large scale operations.

The company, headquartered in Houston TX, is led by Chad Sykes (CEO). Revenues were not reported.

Random Research has reported other transactions related to urban controlled environment agriculture: Podponics, Freight Farms and Rx Green Solutions.

Offering recap
Status: Intermediary close
Company: Indoor Harvest
Industry: Agriculture
Amount offered: $500,000
Amount placed: $220,000
Change: offered +0% / raised +13% / placed 43%

Is the local farming battle on?


Clipboard02Freight Farms announced the first close of its $2 million equity placement which occurred in mid November. Twelve investors subscribed to $1.2 million or 61% of the offering.

Freight Farms uses modified shipping containers for high yield crop production. Units are outfitted with advanced climate technology that creates optimal growing conditions needed to maximize the harvest. According to the company, the system delivers high quality production at a low cost of operation and uses a fraction of the energy compared to traditional and greenhouse production. Most importantly, it is designed to grow fresh food in urban centers as its installation does not require redevelopment, it can also be stacked to scale-up production without using a larger footprint. According to the Wall Street Journal, the company sells each unit for $60,000 and had revenues amounting to $500,000 since its launch in 2013. The company is currently selling the turnkey containers to grow leafy green, “Vine Veggie” and “Fresh Fungi” are in the works.

There seem to be an increasing number of companies offering solutions to feed an ever growing population of urban locavore. PodPonics which raised $100,000 last June has been developing a similar idea since 2010 and Green City Growers, a MassChallenge alumni looking to expand outside of Boston, transforms unused space such as rooftops into urban organic farms.

Freight Farms, headquartered in Boston MA, was founded in 2013 by Brad McNamara and Jonathan Friedman. The Board of directors includes Reenie McCarthy who is related with the Morningside Group a family office making private equity and venture capital investments.

Offering recap:
Status: First close
Company: Freight Farms
Industry: Other
Amount offered: $1,954,576
Amount placed: $1,204,576
First Sale: 11/19/13