ST. PAUL, Minn. — Minnesota’s two licensed medical marijuana manufacturers each posted millions of dollars in losses in their first full year of operations, according to financial documents obtained by The Associated Press.
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LeafLine Labs opened its second medical cannabis dispensary Monday ahead of an expected increase in demand due to a change in Minnesota law.
Medical-marijuana startup LeafLine Labs has begun an effort to raise $21 million, according to a regulatory filing.
During the last two fiscal years, investors spent $104.5 million to gobble up stakes in cannabis and cannabis-related companies, according to research firm CB Insights.
In the land of the Twin Cities, Minnesota has designated two companies to grow and sell the entire supply of medical cannabis for the state.