FLORIDA SALES TRACKER
As of 12/9/2021:
- 651,132 active ID cards; WoW growth of 0.5%; YoY growth of 44.9%
- One new dispensary for a total of 373 up 28.2% YoY
Acreage Holdings
Acreage Holdings, Inc. announced it had secured a $150 million credit facility with AFC Gamma, Inc. and Viridescent Realty Trust, Inc. Under the Credit Facility terms, $100 million is available for immediate use. A further $50 million is available in future periods under a committed accordion option once certain predetermined milestones are achieved.
This is not going to end well.
Waitr Holdings (WTRH) and on-demand food ordering and delivery company announced the Company has entered into a non-binding letter of intent to acquire Retail Innovation Labs Inc., a point of sale (“POS”), inventory and compliance software business serving cannabis dispensary retailers in North America. “We believe that the Cova POS solution will be symbiotic with our recently acquired Cape Payments business,” said Carl Grimstad, CEO and Chairman of the Board of Waitr, “as we estimate annualized gross merchandise value of the cannabis transactions processed on the Cova platform of approximately $2.3 billion, based on recent performance.” “Cova’s software solution is currently utilized by approximately 2,000 dispensaries in Canada and the United States, and will provide an opportunity to offer these retailers regulatory compliant payment solutions and, when and if provincial regulations in Canada and federal and state regulations in the United States evolve, potentially the ability to offer delivery services as well. Additionally, we believe that we may be able to adapt the Cova POS solution for restaurants to offer our restaurant base an integrated solution for in-house and food delivery services,” concluded Mr. Grimstad. The LOI sets forth a proposed purchase price of $90 million, to be paid in a combination of cash and shares of the Company’s common stock, subject to customary adjustments.
TLLTF is Setting up nicely for 2022
Last week, TLLTF announced that the Massachusetts Cannabis Control Commission had approved TILT’s subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), to commence adult-use cannabis operations, including cultivation, manufacturing, distribution, and retails sales at its Taunton facility, effective today. With this approval to commence adult-use operations, CAC will be the first dispensary to open its doors to recreational cannabis customers in Taunton, Mass. Located at 30 Mozzone Boulevard, CAC’s Taunton dispensary is adjacent to its 100,000 square-foot cultivation and processing facility. Featuring 3,000 square-feet of nature-inspired space for customers and patients, CAC offers a wide selection of products from their house brands ONE, CHROMA, and SLATE, including flower, concentrates, edibles, and topicals. Additionally, customers and patients can find products from industry-leading partner brands, including 1906, AIRO, Her Highness, Old Pal, and Wana. CAC Taunton joins CAC Brockton in serving both adult-use customers and medical marijuana patients. An event to celebrate recreational cannabis sales is scheduled for Q1 2022.
