Green Leaf Medical LLC 鈥� one of the few companies that received approval from Maryland regulators to cultivate medical marijuana 鈥� said it’s raising more than $4 million from investors toward its buildout and operations.
The Gaithersburg-based company, led by a local entrepreneur Philip Goldberg, officially closed on one round of funding worth $1.6 million this month, a Securities and Exchange Commission filing shows.
But that figure will top $4 million once additional investments close in the next two weeks, Goldberg told me Monday.
The funding will support ongoing construction of a medical marijuana cultivation facility that will eventually grow up to 5,000 plants at a time. Construction, already well underway in Frederick, Maryland, is expected to be completed within the next eight to 10 weeks, Goldberg said.
The company will also use the money to support a $500,000 computerized crop irrigation system. “The consistency of the product is especially important when we’re creating鈥�
