The 1937 Group Secures $17M in Funding
- The 1937 Group, a Chicago, IL-based cannabis company, raised $17M in funding
- The round was led by SGG Enterprises LLC. The terms of the agreement establish a disbursement schedule of $13M in equity shares and $4M as a debt note
- The company intends to use the funds to build-out current assets, and buy and build-out additional Illinois-based cannabis establishments
- The 1937Group is a minority-owned, vertically integrated cannabis company which currently owns several Illinois cannabis licenses, including Retail, Cultivation and Transportation
- The Group was established to be the parent company for multiple Illinois licensed cannabis companies
- The company is also in the process of securing an additional Craft Grow license and four (4) additional Illinois retail dispensary licenses
