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AFC Gamma Inc (NASDAQ: AFCG) Announces Launch of $100 Million Offering Of Senior Notes Due 2017

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AFC Gamma Inc (NASDAQ: AFCG) or Advanced Flower Capital Gamma is one of the leading companies that provides institutional loans to high-quality cannabis companies nationwide to help with all the different production processes, including cultivation, processing, and distribution. At our real-estate investment trust, you will get assistance with loans and other related facilities that are secured and assets and rely on a repeatable process that brings about creditworthy, high-profile borrowers.

Official Statement

On the 6th of October 2021, at West Palm Beach, AFC Gamma made an announcement. The media announcement said that it intends to offer an aggregate principal amount of $100million senior unsecured notes due 2027, subject to market and other conditions. The offer will be made in private to qualified institutional buyers by Rule 144A and to non-US persons outside of the United States based on the Regulations under the Securities Act of 1933 as amended in the Securities Act.

AFC Gamma has also mentioned that they intend to use the net proceeds of the offering for funding loans related to unfunded commitments to its existing borrowers. In addition, they are planning to provide commercial loans to companies operating in the cannabis industry that are consistent with their investment strategies, working capital, and other relevant corporate purposes.

The timing and terms of the offering will be determined depending upon the market condition and other related factors. The Notes are not expected to get registered under the Securities Act or the securities laws of any other jurisdiction. Moreover, they may not be offered or sold in the US absent registration or get any applicable privilege for their registration.

This press release made by the company was not an attempt to sell nor an offer to buy any of these securities. They shall not constitute an offer, solicitation, or in any jurisdiction. Any offer of these securities will be made only through means of a private memorandum. In another media release, they announced a recent expansion securing credit facility with Justice Cannabis Co. by $53.4 million.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

BUSINESS

AFC Gamma Inc (NASDAQ: AFCG) Expanda Senior Secured Credit Facility with Justice Cannabis by $53.4 Million

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A leading real estate and loan provider company, AFC Gamma Inc (NASDAQ: AFCG), reported expanding its senior credit facility to $75.4 million from 53.4 million in total commitments to Justice Cannabis on October 4, 2021. This credit facility expansion was created to provide more capital for asset purchase and develop New Jersey operations for Justice Cannabis. Also, to develop a Pennsylvania cannabis cultivation facility and refinance existing debt of a Chicago-based company.

Management Statement

Chief Executive Officer of AFC Gamma, Leonard M. Tannenbaum, stated that they are committed to their borrowers’ long-term success. The announcement shows the AFC Gamma’s ability to assist existing borrowers’ capital needs as they seek to expand their businesses and opportunities. He also adds that they are excited to partner with Justice Cannabis and believe Justice Cannabis has one of the critical license stacks for a multi-state operator. AFC is proud to further partnership with Justice Cannabis in New Jersey and Pennsylvania, two states with significant supply.

Justice Cannabis’ Founder, Jon Loevy, stated that AFC Gamma is pursuing to be a significant asset to their company throughout their partnership. Justice Cannabis is delighted to have the opportunity to use its flexibility and capabilities to assist its next chapter of growth.

In addition, AFC Gamma committed an additional $43.4 million under Justice Cannabis’ expanded facility with $10 million syndicated. Therefore, currently, AFC GAmma holds $65.5 million of the $75 million credit expanded facility.

AFC Gamma Expands Existing Senior Secured Credit Facility with Devi Holdings 

On September 13, 2021, AFC Gamma reported the expansion of its senior credit facility by $30million to Devi Holdings. The credit facility was created to provide Nature’s Medicines with capital to accomplish strategic acquisitions and further expand its business operations. The company committed $20 million under the additional expansion to the credit facility and currently holds $62 million in a total of the credit facility, and $10 million of the development was syndicated to an affiliate. Moreover, the credit was secured by a first-lien on Nature’s Medicines.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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4Front Ventures Corp (OTCMKTS: FFNTF) Announced That The Group Has Inked Definitive Agreements To Acquire New England Cannabis Corporation

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4Front Ventures Corp (OTCMKTS: FFNTF), in a statement, announced that the group had inked definitive agreements earlier this month to take over New England Cannabis Corporation in Massachusetts.

 4Front Ventures Corp aims to strengthen its position in Massachusetts

The adult-use cannabis market in Massachusetts is growing at a fast pace. The group has introduced its product portfolio in the market. The brand has many takers in Massachusetts. With the acquisition of New England Cannabis Corporation, the corporate house aims to strengthen its position in the region with its high-quality products sold for an affordable cost.

Information about New England Cannabis Corporation

New England Cannabis Corporation is regarded as a leader in the technology space. To its credit, the group is a new entrant in the independent cannabis in Massachusetts. In addition, the company has a fully functional 55,000 sq—Ft cultivation facility, which is licensed. By taking over New England Cannabis Corporation, 4Front Ventures Corp is sure to benefit as it will help the latter group expand its presence.

4Front Ventures Corp’s total flower canopy in Massachusetts will more than double

The acquisition will help 4Front Ventures Corp also expand its infrastructure. It is learned that the takeover will leave the group with more than double the company’s total flower canopy in Massachusetts. The group’s overall flower canopy in the region is expected to cross 30,000 square feet from the present measurement. Furthermore, it is learned that there is scope for expansion. The canopy can be expanded to an additional 10,000 square feet. The kitchen, processing, and distribution space of 4Front Ventures Corp are also expected to grow threefold. New England Cannabis Corporation will double up as a strong base, and products of 4Front Ventures Corp will be sold at the dispensaries. The same will help the group have a strong position in the wholesale market of Massachusetts.

Financial terms and conditions of the transaction

4Front Ventures Corp agreed to acquire New England Cannabis Corporation for $55 million. A sum of $25 million was paid in cash. The money was raised from convertible notes offering by Navy Capital. A total sum of $15 million was raised through the switchable notes offering method.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Trulieve Cannabis Corp (OTCMKTS: TCNNF) Announced That The Group Will Reopen Its Dispensary Located in Kissimmee

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Trulieve Cannabis Corp (OTCMKTS: TCNNF), in a statement, made it official that it will reopen its dispensary, which is located in Kissimmee. In the past, the location was also known as Harvest House of Cannabis.

The respective dispensary is the 93rd one for the group in the state of Florida

The dispensary was closed for a week. Finally, however, it opened its doors for the public. It was during this period that the dispensary underwent the renovation that it needed. As if pouring old wine into a new bottle, the dispensary finally opened to visitors with its all-new look and feel. A source from Trulieve Cannabis Corp shared that the group is on a dispensary opening spree. When probed, it has come to light that the corporate house has plans to open dispensaries across the state of Florida throughout this month.

Customers and patients are the group’s priority

Trulieve Cannabis Corp has made it clear that customers and patients are its priority. In a bid to keep its promise, the corporate house has announced a series of surprises and giveaways for its customers. As part of the offering, the group has promised to offer a discount on the day the dispensary reopens. According to the announcement, new and loyal customers of Trulieve Cannabis Corp will qualify for a discount of up to 25% on the day of the store’s reopening.

Here’s what the dispensary will offer

Both sets of customers, virtual and physical visitors, will have access to what the group calls Florida’s largest THC and CBD range of products. The product portfolio includes various delivery methods like edibles, smokable flowers, concentrates, tinctures, topical creams, and vaporizers. For customers who cannot visit the dispensary in person, the group offers the option of door delivery. In addition, Trulieve Cannabis Corp is offering a state-wide delivery option. The same means that customers can view the range of products from home comfort that the dispensary offers and place an order. Besides this, the group is offering a 30-minute free consultant session for patients who need it. As part of the complimentary virtual session, the customers can have their doubts clarified and questions answered before placing an order for a product with the dispensary. An appointment can be booked for a virtual session on the official website of the company.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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