Buchanan Assists FARMACEUTICALRX, LLC With Closing of Financing Totaling $18M to Fund Pennsylvania Medical Marijuana Grower/Processor Operations

Jen Minter, chair of the Firm's Corporate section, served as outside counsel to FARMACEUTICALRX, LLC in connection with two capital financings that provided the company with an aggregate of approximately $18 Million of working capital. 

In a news release, the company's CEO Rebecca Myers said, “This capital raise supports our rapid growth and our continued success in Pennsylvania, which is a key jurisdiction within our vertically integrated multi-state platform. We are thrilled to welcome our new investor partners into the Company. We have commenced operations in Pennsylvania and we are positioned to commence product sales in the coming weeks."

FARMACEUTICALRX intends to use the net proceeds from these Offerings for capital expenditures, working capital and general corporate requirements for the Company’s Pennsylvania Grower/Processor Operations.

The Pittsburgh Business Times covered the financing.