Raising Q4 Funding $13MM (CAD) / $9.5M (USD)
ONTARIO, TORONTO, CANADA, September 22, 2020 /EINPresswire.com/ — As the Cannabis industry battles with drain-to-waste feeding and costly indoor lighting systems, transplant labor, pesticide, and fungicide concerns, GnomeWorks is taking the lead as they launch a new proprietary technology, GnomeWorks Aeroponics. GnomeWorks Aeroponics will help reduce overall operational cost, thereby helping the company become more competitive as they deliver higher returns to their investors.
The innovation-driven company, GnomeWorks Aeroponics, is raising $12MM CAD or $9MM USD for the build-out and to complete the construction of Phase I of their new facility (property already purchased) in Brighton, Ontario, Canada. $7.5MM will be used for the construction of their new facility, while the rest will be used for working capital and additional cash-on-hand.
“At GnomeWorks Aeroponics, our goal is to deliver premium quality products using the least resources possible. We believe that corporate goals can be set high without sacrificing the environment or straining the company’s finances and human resources. We remain committed to supplying our customers with the best Cannabis quality in the market while continuing to innovate. The adoption of Aeroponics means we are able to save on power, reduce carbon footprint, preserve the environment, and reduce exposure to pesticides or fungicides. Our investors can realize a higher ROI as we have been able to cut costs, resulting in solid financial projection going forward.” – Shawn Pahwa, Co-Founder
For more information, visit GnomeWorks.ca
Strategically positioned to become the leading B2B producer and wholesaler of premium and sustainable craft cannabis, GnomeWorks has developed a unique production platform using integrated production systems, the company will improve its ability to meet growing B2B customer demands for premium craft cannabis, while reducing cost, and being mindful of the environment.
About GnomeWorks Aeroponics
GnomeWorks' team has extensive horticulture experience and emphasize sustainable production practices. As the call for environmental awareness grows, GnomeWorks Aeroponics is thinking ahead which has led them to adopt aeroponics technology and design an EU-GMP compliant hybrid greenhouse for large scale commercial production.
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Source: EIN Presswire