Connect with us

Marijuana Business Daily

Cannabis lender Chicago Atlantic extends credit facility by one year

Published

on


Cannabis real estate financing company Chicago Atlantic Real Estate Finance extended its $92.5 million secured revolving credit facility by an additional year.

The revolving loan to Chicago Atlantic’s financing subsidiary Chicago Atlantic Lincoln will now mature in December 2024 with a one-year extension option, the parent company said in a Tuesday news release.

ADVERTISEMENT

The credit facility from “six FDIC-insured financial institutions” carries an interest rate of prime plus a variable margin calculated on Chicago Atlantic Lincoln’s leverage ratio, with prime set at no less than 3.25%.

“Based on Chicago Atlantic’s current leverage, the pricing is equal to the prime rate,” the company noted.

Chicago Atlantic has increased the size of the revolving credit facility several times, to $45 million in December 2021 and to $65 million in May 2022.

The Illinois company boosted the loan to $92.5 million in November 2022.

ADVERTISEMENT

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

How to take your marijuana brand global

Published

on

By


(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Adam Wilks (Courtesy photo)

Expanding a marijuana brand across international markets is a thrilling and challenging endeavor.

The global cannabis industry is experiencing rapid evolution, with new markets opening up and consumer attitudes shifting in favor of regulation and accessibility.

For companies aiming to scale internationally, the journey involves more than just logistical expansion; it requires grappling with intricate regulatory landscapes, understanding cultural nuances and building strategic partnerships.

Yet, the potential rewards are vast.

ADVERTISEMENT

Successful global operations not only diversify revenue streams but also position brands as leaders in a dynamic and increasingly competitive industry.

Navigating complex regulatory landscapes

One of the most significant challenges in

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Will marijuana rescheduling happen under Trump? Industry’s doubts grow

Published

on

By


President Donald Trump’s choices over his first 50 days in office, including appointments to lead the federal drug and health agencies, are sowing serious doubts that marijuana’s status under federal law will change anytime soon.

That’s the gloomy vibe lurking outside the U.S. Capitol and seeping into C-suites as the marijuana rescheduling process – begun in October 2022 by former President Joe Biden and put on indefinite hiatus in January – remains stuck in limbo.

ADVERTISEMENT

For those remaining hopeful, the belief is that the Trump administration might do something before the end of the year.

But skeptics wonder if the administration will simply cancel the process to downgrade marijuana from Schedule 1 to Schedule 3 of the Controlled Substances Act.

All in all, “so far,

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Health Canada eases cannabis industry burden in regulations update

Published

on

By


Health Canada has updated regulations governing the nation’s cannabis operators to address industry challenges while keeping intact public health and safety standards.

The updates to the nation’s Cannabis Act as well as the Cannabis Regulations and Hemp Regulations were published in the Feb. 26 edition of the official Canada Gazette.

ADVERTISEMENT

According to the StratCann news outlet, five key areas are impacted by the changes:

Licensing. Packaging and labeling. Production. Recordkeeping. Security.

Pre-rolls are no longer limited to 1 gram for each unit, and the use of ethyl alcohol in certain cannabis products is now allowed as an ingredient in inhaled extracts up to 7.5 grams.

Packaging for dried marijuana, fresh cannabis or seeds now can have cutout windows and containers

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media