Oahu-based Manoa Botanicals dispensary has raised $5 million in its second round of equity financing. In total, the company has raised a total of $10.9 million. A $1 million building permit was filed with the Oahu Department of Planning and Permitting in November.
The building permit is for a cultivation facility in Kunia, according to Pacific Business News. Manoa Botanicals is one of only eight medical marijuana businesses to obtain a license. None of the approved businesses have opened yet.
Brian Goldstein of Manoa Botanicals said, “We are executing our business plan. We’ve completed construction of our offices and the design of our dispensary on Young Street and are well underway with construction of our state-of-the-art facility in Kunia. We’ll be ready to start cultivation once we have all the necessary permits and approvals.”
Goldstein also added that, “We are dedicated to supporting Hawaii patients with high quality medical cannabis and exceptional service. We are honored to have this opportunity and committed to doing it right.”