Family-founded medical cannabis company Curio confirmed Friday it has closed on a $26 million mortgage with Severn Bank acting as the main finance partner.
The news comes on the heels of the Maryland-based company’s $22 million capital raise with new and existing investors.
In relation to the closing of the mortgage, Curio announced its plan to add 100,000 square foot of cGMP certified indoor cultivation space to its Timonium headquarters’ cultivation facility. The expansion is set to be online in January.
Furthermore, the company also intends to move its current tissue culture lab, formed last year, to a class 10,000 cleanroom lab and to relocate its manufacturing facility to a 34,000 square foot cGMP certified facility. The relocation is expected to be…