Puerto Rico’s Tropizen Cannabis Producer and InPortal to Open First Marijuana Security Token STO
Tropizen is a leading manufacturer and cultivator of cannabis is Puerto Rico. They recently announced that they will launch a Cannabis STO. They plan to issue up to $2 million of equity via a Security token Offering, which will run on the InPortal INPR protocol.
About the Tropizen STO
Tropizen opened its doors months after the devastation caused by Hurricane Maria. It is now in the process of starting the fourth harvest. If cannabis products are supplied to a growing list of dispensaries with high-end cannabis flowers. Tropizen is planning to release various products infused with cannabis. These products include topicals, tinctures, concentrates, and edibles. The aim is to serve patients’ needs in the most innovative manner possible.
Tropizen has a facility that is 22,000 feet located in Canovanas. It has indoor cultivation roots, a high purity CO2 lab for extractions and a commercial kitchen. With the inflow of capital, they will fund cultivation expansion, new dispensary locations, and more manufacturing capabilities.
What the Leadership Had to Say
According to the COO and co-founder of Tropizen, they will focus on the creation of safe, high-quality product for medical patients in Puerto Rico. They aim to innovate more each day while utilizing traditional remedies passed down from past generations. The COO added that they were glad to be working with InPortal to launch the STO.
Tropizen decision to issue equity shares via the STO will offer investors the security and liquidity of on-chain transactions. CEO Inportal also added that they expected this type of equity to grow in popularity amongst private funding for companies.
The Tropizen Expansion
The ongoing expansion of Tropizen will be funded via a Series A round. It will be enhanced by the issuance of Tropizen Series A tokens. This will be on-chain securities issued in compliance with the SEC’s regulation D 506 9c).
The tokens are going to be embedded with smart contracts. These smart contracts will provide corporate governance functions. These functions include corporate news, investor distributions, and investor accreditation. The smart contract will also facilitate liquidity in various secondary markets.
InPortal is a private market that is based in Puerto Rico. It is also an STO provider, which complies with all the SEC’s rules and regulations. While the company has various projects active in Puerto Rico, it is designed to a transaction marketplace for both international and domestic companies.
As a result, it is able to connect companies and investors in debt and equity issuance in various asset classes and geographies. This is achieved via smart contract settlement and a secure data room. Issuers post their project on public sites, where investors can find them.
Tropizen LLC is a medical cannabis manufacturing and cultivation company based in Puerto Rico. It offers various products and services to the entire cannabis industry. It offers a wide array of purified, locally sourced cannabis products, which serve patients’ needs and support the community.