Phoenix Pharms seeking $2.5 million in equity
Last Updated: 17:08 July 9, 2014
Established last year, Phoenix Pharms in Longmont said in the July 2 filing that it aims to raise the remaining $2,374,000. The company reported annual revenue of $1 million or less.
Six investors have invested in the company's offering, according to the filing. The company first sold securities June 6, and it does not intend for the offering to last more than one year.
A Phoenix Pharms representative did not immediately return a phone message for comment.
The company is "focused on facilitating, financing and operating health and wellness centers in conjunction with the nation's leading cannabinoid specialists," according to its website.
The company finances real estate acquisitions as well as construction of clinics, production facilities and retail stores. It also finances equipment, provides short-term operating capital and secures licensing for marijuana businesses
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