By Hilary Bricken, Co-founder Harris Bricken Last week, the Financial Crimes Enforcement Network (FinCEN), issued new guidance (the “FinCEN Guidance”) for financial institutions working with hemp-related businesses. The FinCEN Guidance centers on due diligence requirements as related to the Bank Secrecy Act (BSA). This guidance follows closely on the new National Credit Union Administration (NCUA) […]
Banking, Finance & Real Estate
Jushi Holdings Inc. Reports First Quarter 2020 Financial Results
PRESS RELEASE Announces First Quarter 2020 Revenue of $8.6 million, a Sequential Increase of 43%; Gross Profit of $4.2 million, a Sequential increase of 55%; Pre-announces Second Quarter 2020 Revenue of Approximately $15.0 million, a Sequential Increase of 74%; Annualized Revenue Run-Rate for June 2020 of Approximately $69 million BOCA RATON, Fla., July 07, 2020 […]
Acreage Holdings Reports First Quarter 2020 Results
PRESS RELEASE NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) today reported financial results for the first quarter of 2020. FIRST QUARTER FINANCIAL HIGHLIGHTS (UNAUDITED) First quarter reported revenue was $24.2 million, an 88% increase compared to the same period in 2019, and a 15% […]
Restructuring issues and challenges in the cannabis industry
The legalization of recreational cannabis in 2018 opened the doors for Canada to be a first-mover in what analysts predicted would be an exciting and lucrative industry. Although the cannabis industry has experienced significant business growth, recent headwinds have resulted in some cannabis companies starting to encounter short-term liquidity challenges as they grow their operations. […]
Innovative Industrial Properties Expands Real Estate Partnership with Green Leaf at Pennsylvania Property
PRESS RELEASE SAN DIEGO–(BUSINESS WIRE)– Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with a subsidiary of Green Leaf Medical, LLC (Green Leaf) at 135 […]
Columbia Care Announces Second Tranche of Debt Financing, Raising Over US$54.0 Million in Aggregate
PRESS RELEASE Incremental US$15.7 Million in Senior Secured Convertible Notes and Additional US$4.0 Million in Senior Secured Term Debt Will Exceed US$50.0 Million Target When Combined with First $34.4 Million Tranche Additional Capital Enhances Company’s Cash Position and Bolsters Financial Flexibility in Advance of Expected Transition to Positive Adjusted EBITDA in 2H 2020 NEW YORK–(BUSINESS […]
Should cannabis companies get out front on leaseback plans?
Cannabis Business by Joe Caltabiano Companies in need of capital have a wealth of options in how they can raise it. From traditional bank loans to venture funding, line-of-credit accounts to angel investors, the sourcing choices are numerous. But that doesn’t mean they’re all equally available in all markets at all times. And right now, […]
4Front Announces Fiscal Year 2019 Fourth Quarter and Year End Financial Results, Preliminary First Quarter 2020 Results and Business Update
PRESS RELEASE Q4 2019 Systemwide Pro Forma Sales of $17.5m, an increase of 525% over Q4 2018. 2019 Full Year Systemwide Pro Forma Sales for 2019 of $63.5m, an increase of 786% over full year 2018. Q1 2020 Systemwide Pro Forma Sales of $23.8m, an increase of 36% over Q4 2019. Robust consumer demand continues […]
Innovative Industrial Properties Acquires Pennsylvania Property and Expands Real Estate Partnership with Holistic Industries
PRESS RELEASE SAN DIEGO–(BUSINESS WIRE)– Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property located at 911 Industrial Street in New Castle, Pennsylvania, which comprises approximately […]
City of Los Angeles and Dama Financial Partner to Provide Cannabis Cash-Alternative Tax Payments During COVID-19 Crisis
PRESS RELEASE Dama Financial announces its support of the City of Los Angeles Office of Finance plan to offer its 300+ cannabis business licensees an improved method for cash payment of city cannabis tax and licensing fees SAN FRANCISCO and LOS ANGELES, May 20, 2020 Dama Financial announces its support of the City of Los Angeles […]
