The Emerald Corp. recently closed a $2 million funding round in exchange for common stock of the company.
The deal will also bring on a $2 million line of credit that Emerald plans to use to secure a steady supply of raw material during this time of global supply chain disruption.
Emerald will use the proceeds to scale its manufacturing capabilities and expand its marketing efforts.
The company also said that it will make major upgrades to its Commack facility, including the installation of multiple fully automated production lines for liquid products as well as packaging equipment for edibles like gummies, chocolates and baked goods.
Emerald Nutraceutical Launch
In conjunction with this capital raise, Emerald Corp. simultaneously launched Emerald Nutraceutical.
This arm will focus solely on the manufacturing and distribution of dietary supplements in liquid and edible form.
In 2020, Emerald Corp. released a variety of private-label supplements containing popular ingredients like functional mushrooms along with a plethora of herbal extracts. Because of the regulatory boundaries that linger in the CBD space, Emerald has opted to separate the two entities.
This will allow Emerald Corp. to continue to focus on alt-cannabinoid products while "Emerald Nutra" expands new revenue streams in the exploding functional supplement space.
Emerald Nutra will offer a diverse private-label selection with products including:
- Functional Snacks (Chocolate, Baked Goods, Gummies)
- Functional Mushroom Extracts (Lion's Mane, Reishi, Chaga, Cordyceps, Turkey Tail & More)
- Herbal Extracts (Ashwagandha, Turmeric, Ginger Root, Elderberry, Valerian & More)
- Vitamins
- Function-Specific Formulas (Digestion, Sleep, Energy, Brain Health, Heart Health)
- Skin Care/Cosmeceuticals
Emerald manufactures and distributes a variety of brands including Naturefine+, SMACK'D, Drops of Nature, Fuji Nutrition, PlusShrooms, Hemp Emu, Nature's RX and more.
It was launched in 2018 by founding members Michael Garcia and Stevens Adonis.
Since than generated over $15 million in sales and has expanded its distribution to 3,000 stores across the U.S. and abroad.
Photo: Courtesy of Visual Stories || Micheile on Unsplash
