USA – LDE Holdings (Trade Roots), a Wareham, Mass.-based adult-use craft cannabis company, closed a $4.9m Series A financing round.
Greg Wirsen is the lead Series A investor and a member of the Trade Roots Board of Directors. The round was funded nearly entirely by local investors. Proceeds from the financing will be used to complete the development of the company’s vertically integrated 16,000-square-foot facility in Wareham, and to advance preparations for a planned opening to the public in the second quarter of 2021. Cofounded by Chief Executive Officer Jesse Pitts and President Carl Giannone, Trade Roots is a locally-owned, operated, and staffed business providing adult-use cannabis and cannabis products to Massachusetts residents. The company expects to begin cultivation and extraction work in the first quarter of 2021 following an extensive renovation and modernization of its multi-use site, located at 6 Thatcher Lane, in the Wareham Industrial Park adjacent to Interstate 195. Trade Roots is a Massachusetts Cannabis Control Commission-designated Social Equity Program Participant committed to driving positive impact and economic growth in its host community. Consistent with its Host Community Agreement, the company will pay 3 percent of its sales receipts to the Town of Wareham. In June 2018, Trade Roots received one of three Host Community Agreements from the Town to open an adult-use retail store.15/10/2020
