DENVER, Aug. 23, 2022 (GLOBE NEWSWIRE) — Major investment partners Today announced a $1.5 million investment PHARMACEUTICALRX™, a vertically integrated cannabis operator in the state of Ohio. The investment by KEY is a strong demonstration of confidence in the company’s approach to cannabis cultivation, processing and product development.
PHARMACEUTICALRX (FRX) is the leading organic multi-state vertically integrated medical marijuana operator in the US market. PHARMACEUTICALRX is focused on bringing research and development-based innovation to the medical marijuana field. PHARMACEUTICALRX develops premium craft and innovative organic products under its existing PHARMACEUTICALRX brand. PHARMACEUTICALRX’s suite of sub-branded products in Ohio includes Burst of Wellness vape products, Treefarm vape and RSO products, Local Foods chocolates and confections, Canarox sugar-free hard candies, and the Open Mind organic, vegan and gluten free company suite. Sub-branded products in Ohio combine the premium organic and artisanal quality that PHARMACEUTICALRX is known for, at competitive price points, expanding their reach to a broader demographic of patients. PHARMACEUTICALRX is led by a world-class team of scientists, healthcare, organic food and beverage and cannabis industry professionals driven by the discovery, development and manufacture of premium organic craft products through a vertically integrated platform with PHARMACEUTICALRX, an Ohio business. In addition to KEY’s capital investment, KEY Founding Partner Pete Karabas will join FRX’s Board of Directors, along with FRX Founder and CEO Rebecca Myers, to support the company in its strategic growth initiatives through 2022 and beyond.
“We have been very impressed with Rebecca and her team’s ability to consistently deliver high-quality, organic cannabis products at competitive prices to medical cannabis patients across the state of Ohio. In the relatively near future, we expect the state to develop a strong recreational program and believe FRX will provide that will play an important role in making the program a success,” Karabas said.
Using an organic farming method known as living soil farming, PHARMACEUTICALRX grows cannabis following traditional organic practices that closely mimic Mother Nature’s optimal, natural conditions to produce premium organic craft medical marijuana products with each harvest. Plants are cultivated in living soil, and environmental conditions are obsessively monitored and controlled. These high standards enable the company to reliably replicate each cultivar’s unique genetic profile to exacting standards, creating consistently high cannabinoid and terpene levels with each harvest. The PHARMACEUTICALRX processing team then creates products with the goal of allowing patients to achieve condition-specific relief, whether through live resin vape and concentrate products, solvent-less products, RSO or edible products. PHARMACEUTICALRX expects to receive final biologic approval in Q4 of 2022.
“We are extremely pleased with the confidence that Key Investment Partners has demonstrated through their commitment to our future,” said Rebecca Myers, Founder and CEO of PHARMACEUTICALRX. “The addition of Pete Karabas to our board will be important as we continue to grow our presence in the state of Ohio.”
KEY Investment Partners continues to deploy capital in the cannabis industry across multiple verticals in 2022. Their investment in FRX is a reflection of KEY’s belief in the continued growth of the cannabis industry even amid challenging macroeconomic times.
About KEY Investment Partners
Founded in 2018, KEY Investment Partners combines a systematic approach to sourcing deals and rigorous due diligence with the goal of connecting investors to the most attractive cannabis opportunities. Leveraging decades of combined institutional experience, Key Resources offers unique opportunities in high-growth, market-leading cannabis companies driven by exceptional management teams. The firm uses time-tested methods to provide institutional quality investment management and client service to those seeking to capitalize on the rapid growth of the US cannabis market.
For more information, please visit KEY Investment Partners online or by email [email protected]. Stay up-to-date on cannabis investing by subscribing to the KEY Investment Partner Podcast, Unlocking Cannabis.
PHARMACEUTICALRX is one of the only multi-state, vertically integrated producers of premium organic craft medical marijuana products and premium organic craft medical marijuana products in the US market. PHARMACEUTICALRX is focused on bringing research and development-based innovation to the medical marijuana field. PHARMACEUTICALRX develops premium organic medical marijuana products under its existing PHARMACEUTICALRX brand. The company’s suite of sub-branded products includes Burst of Wellness vape products, Treeform vape and RSO products, Local Foods chocolates and confections, and Open Mind organic, vegan and gluten-free gummies. Our suite of sub-branded products combine PHARMACEUTICALRX with premium quality, at a lower price, with the goal of expanding the company’s reach to a broader demographic of patients. PHARMACEUTICALRX affiliates are licensed to offer premium organic craft medical marijuana products in Pennsylvania and Ohio, a state with a combined population of over 26 million people. PHARMACEUTICALRX is led by a world-class team of scientists, healthcare, organic food and beverage and cannabis industry professionals driven by the discovery, development and manufacture of revolutionary, premium, organic craft products through its vertically integrated platform.
From Farm to Future. Learn more at https://farmaceuticalrx.com/
contact: Jim Decett