One of Hawaii’s eight medical marijuana dispensary licensees announced this week that it raised $10.9 million in equity financing and has completed construction of its offices and design of its Honolulu dispensary on Young Street.

Manoa Botanicals LLC, one of three licensed dispensary operators on Oahu, also is building a cannabis production facility in Kunia.

“We are executing our business plan,” said Brian Goldstein, chief executive officer of Manoa Botanicals, in a statement. “We are dedicated to supporting Hawaii patients with high quality medical cannabis and exceptional service. We’ll be ready to start cultivation once we have all the necessary permits and approvals.”

The company said its chief medical officer, Dr. Sue Sisley, is president of Scottsdale Research Institute and principal investigator for the only FDA-approved research of medical cannabis for post-traumatic stress disorder.

Hawaii legalized medical marijuana 16 years ago, but patients did not have a legal way to obtain the drug. Act 241, passed in 2015, allowed the state to issue eight licenses for a total of 16 dispensaries statewide. The law allowed dispensaries to open July 15, but the state and licensees weren’t ready.

Last month the state Health Department contracted BioTech Medical Software Inc., dba BioTrackTHC, to install an online seed-to-sale tracking system required to monitor production and sales before dispensaries can open for business.

At least one dispensary operator, Maui Wellness Group, said it is ready to open.

The firm has hired about a dozen employees and has leased agricultural land and a retail facility. It hopes to get the green light to become the first operational dispensary this year with sales in early 2017.