Denver, CO - Capstone Headwaters, a leading middle market investment banking firm, advised Eden Enterprises, Inc. (“Eden” or “the Company”) on securing debt financing in support of the Company’s growth initiatives. The Company obtained a bridge facility of $2.25 mm from Canna Business Resources, LLC (“CBR”) and a $10.0 mm credit facility from PMW LLC dba Suite 420 Solutions (“Suite 420”).
Founded in 2003, Eden is a vertically integrated cannabis and hemp company located in Oakland, California. They have retail/distribution, manufacturing, processing and cultivation capacity in and around northern California. Eden hosts a number of operations comprised of Garden of Eden (dispensary brand), Eden Extracts (vape pen/product brand), Honeycomb Farms (cultivation brand) and Terpene Belt Farms (hemp derived terpenes). The Company’s network of experience brought to the table by cannabis business veterans, both founding members and external partners, provides the basis for industry leading vertically integrated operations and innovation across the entire cannabis ecosystem.
“Capstone Headwaters provided Eden the support needed to navigate the capital formation process during a global pandemic,” commented Shareef El-Sissi, CEO of Eden. “The new capital enabled the immediate completion of the Terpene Belt Processing plant where we have scaled our Fresh Never Frozen cannabis derived terpene business line. We will continue growth in 2021 by expanding our cannabis retail footprint into the untapped territories of Southern Alameda County. We are fortunate to have tapped into non-dilutive capital pools and ended a challenging year with a bright outlook on the future.”
Chris Bluse, Director at Capstone, said, “Shareef and the Eden Team have built a scalable and exciting platform which has stood the test of time through various market and regulatory dislocations and has emerged a winner during the COVID pandemic largely due to their excellent leadership team, industry leading operational capabilities and innovative culture which sets them apart from other vertically integrated operators in the Cannabis space.”
ABOUT SUITE 420 SOLUTIONS
Founded in 2018, Suite 420 is located in Denver, CO and is the only Colorado-based direct lender to the cannabis industry who offer term loans, equipment financing, cash flow financing and working capital loans.
ABOUT CANNA BUSINESS RESOURCES, LLC
Founded in 2018, CBR is located in New York, New York and is a specialized lender to companies operating within and providing services to the regulated cannabis and CBD industries. CBR takes an innovative approach to originating, evaluating, and servicing these unique borrowers. CBR is a strategic lender to growing businesses serving and operating in the regulated cannabis and CBD industries. Since early 2019, the Company has provided loans totaling more than $40 million to companies in every vertical and in almost every medical or recreational market in the United States.