A company that says it is one of the largest producers of organic medical marijuana in the U.S. says that it has secured $34 million in financing to finish work on its cultivation and processing facility in East Liverpool’s East End. 

FarmaceuticalRX on Tuesday announced it had closed on a loan provided from Chicago Atlantic Real Estate Finance Inc. to complete the Level 1 cultivation and post-harvest facility in the 100,000 square foot facility at the former Ferro Corp. building on Harvey Avenue.

The company says it will also use the loan to repay existing debt, fund equipment purchases, and for working capital.

The business also operates the FRX Health dispensary in East Liverpool, Ohio.

“This funding allows us to take advantage of the tremendous opportunity in Ohio and to build on the momentum and market-leading position we developed in Pennsylvania,” said Rebecca Myers, CEO and Founder of FarmaceuticaRX. “We continue to believe Ohio is a very attractive limited license state and the right market for us.”

FarmaceuticalRX also announced on Tuesday that it has received final certification to begin operations as a medical marijuana cultivator from the Ohio Department of Commerce.

“Chicago Atlantic is excited to partner with FarmaceuticaRX in Ohio on the completion of their 100,000-square-foot tier 1 cultivation facility that will bring additional jobs to East Liverpool,” said John Mazarakis, Executive Chairman at Chicago Atlantic.  

FarmaceuticalRX also operates a cultivation and processing facility in Farrell, Pennsylvania.