|NEW YORK and AUSTIN, Texas (July 20, 2020)— Texas Original Compassionate Cultivation (TOCC), the market leader and gold standard for medical marijuana in Texas, announced today it recently closed its $5.1 million Series A financing.|
Viridian Capital Advisors, through broker-dealer Pickwick Capital Partners, led the financing round.
Based in Austin, Texas, TOCC cultivates and processes life-changing medical marijuana for more than 2,000 patients throughout Texas. The company works closely with its patients, physicians and regulators throughout the state to offer the highest quality products to Texans with qualifying conditions under the Compassionate Use Program.
“Compassionate Cultivation, led by its CEO Morris Denton, is the leading medical marijuana company in Texas,” said Scott Greiper, President of Viridian Capital. “As the dominant leader in the second largest market in the United States, the infrastructure and team that Morris has built are the reasons why we were excited to represent TOCC as a Viridian client.”
The latest fundraising reinforces TOCC’s leading position in Texas’ vertically integrated medical marijuana industry. The funds will be used to scale operations and meet the needs of its thousands of current and future patients.
“Under Viridian Capital’s guidance, we’re excited to have completed our latest funding round, enhancing our ability to cultivate and deliver life-changing medicine to our current and future patients,” said Morris Denton, TOCC’s CEO. “Building and growing a vertically integrated business in the cannabis industry requires capital, and Scott and his team provided strategic leadership in the midst of challenging headwinds in the cannabis industry and broader macro economy. As the only 100% Texas-based operator, we are well-positioned for significant growth in one of the most important strategic medical marijuana markets in the country.”