The 1937 Group – the First Minority-Owned, Vertically-Integrated Cannabis Company in Illinois – Secures $17M in Funding
CHICAGO — The 1937 Group, Ltd. , regarded as the first minority-owned vertically-integrated cannabis company in Illinois, announced it recently secured $17M in new funding. The company closed a binding financing agreement with the private investment group, SGG Enterprises LLC. The funds will be used for the build-out of current assets, and for the purchase and build-out of additional Illinois cannabis establishments. The 1937 Group was established to be the parent company for multiple Illinois licensed cannabis companies, including a 52,000 sq ft cultivation operation currently under construction (Helios Labs), a retail operation (Parkway Dispensary), and a cannabis transportation company (Highwaymen Security). The company is also in the process of securing an additional Craft Grow license and four (4) additional Illinois retail dispensary licenses. “It is important that we capitalize as the leading social equity entrant in the Illinois regulated cannabis marke...