C3 Industries Enters Michigan Cannabis Market with "High Profile" Dispensaries

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Aug 13, 2019, 11:07 ET

ANN ARBOR, Mich., Aug. 13, 2019 /PRNewswire/ -- C3 Industries, a premium cannabis producer and retailer headquartered in Ann Arbor, announced today that it has entered the Michigan cannabis market with the opening of its first "High Profile" dispensary. Located at 20327 Groesbeck Highway in Detroit, just south of Eight Mile, this is the first of 15 to 20 dispensaries the company is slated to open over the next 24 months. The next two locations are on track to open in Ann Arbor and Grant this fall, and additional locations will be announced soon.

Each High Profile store will offer a highly-curated selection of products, including flower, edibles, vaporizers, concentrates, topicals and tinctures. The company is working with many of the leading brands in the market and will also feature its own full line of products with the completion of its cultivation and manufacturing facility, scheduled to open in Webberville this fall.

C3 Industries, founded by brothers Ankur and Vishal Rungta and life-long friend Joel Ruggiero, launched in Portland, Ore. in 2018. Following a successful year in what is deemed the most "highly-competitive cannabis market," the Rungta brothers, both University of Michigan graduates, are excited to be launching an expansive cannabis platform in their home state.

C3 Industries will invest more than $15 million in Michigan's cannabis industry between its headquarters, a cultivation and manufacturing facility currently being built in Webberville, Mich., and the High Profile retail network. The company anticipates it will employ over 300 people once the cultivation and manufacturing center - which will supply all High Profile stores as well as third-party retailers - is at capacity and its full retail network is up and running.

"Ann Arbor has long been at the forefront of cannabis culture and advocacy," said Ankur Rungta, C3 Industries CEO. "We've been waiting a long time to enter into a licensed and regulated marketplace in Michigan, and we see a great opportunity to provide the state's patients and consumers with the highest-quality products and a premium retail experience."

"The lack of current supply in Michigan is severely impacting medical marijuana users by driving up prices and limiting availability across the state," said Vishal Rungta, C3 Industries president and CFO. "With our Webberville facility producing the highest quality flower and concentrates, and our retail stores carrying the most curated selection of leading brands, we are excited to enter the market and provide Michigan patients with an elevated and consistent cannabis experience."

The High Profile dispensary on Groesbeck will be open 10 a.m. – 9 p.m., 7 days per week.

About C3 Industries
C3 Industries (C3I) is a premier, vertically integrated cannabis company headquartered in Ann Arbor, Michigan with an award-winning product line, Cloud Cover Cannabis, and a retail network, High Profile. The company produces high-quality cannabis products across all categories in Oregon and Michigan and is soon to launch in Massachusetts. C3I's. For more information, visit www.c3industries.com.

SOURCE C3 Industries