Motif Labs has just announced an additional $2.65M of Series B investment from existing shareholders to execute on strategic growth objectives. The company has now secured more than $8M in financing to build out it’s cannabis extraction and processing facility in Southwestern Ontario. Within the Phase 1 footprint of 12,500 sqft, Motif will be capable of processing more than 200,000kg of biomass annually. Operations are expected to begin in early 2020. The growth capital will be used to bring additional capacity online, and to add ancillary services including expanded storage, high throughput terpene extraction and bulk water-soluble products, which strengthen Motif’s overall product offering and differentiation in the market.
With its 2020/2021 extraction capacity quickly filling up, Motif announced an extraction agreement with licensed cultivator JC Green. Motif will convert a portion of JC Green’s harvest into highly purified distillate oil, allowing the company to meet its Cannabis 2.0 objectives.
CEO of Motif Labs, Ian Haase, stated that “Motif Labs is thrilled to partner with JC Green and it’s incredible team of cultivation experts. The company has developed a strong brand, with exceptional quality, and we look forward to providing the company with high quality concentrates for the next generation of cannabis products.”
JC Green CEO, Robert O’Neill, stated that “JC Green is extremely fortunate to have an extraction facility of Motif’s caliber so close by our production site. We are excited about the synergy between our two privately owned companies and ecstatic for the future of our budding relationship. Together we will help a maturing cannabis industry better serve our customers and community’s needs.”
Featured image via Motif on Instagram