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Drug Chicago Atlantic has closed a $20 million facility in senior secured financing to Nova Farms , a fully integrated cannabis operator managing a Massachusetts cultivation farm, seven retail brands and five full-service dispensaries across Massachusetts, Maine and New Jersey.
Key Points:
- Chicago Atlantic has closed a $20 million facility in senior secured financing to Nova Farms , a fully integrated cannabis operator managing a Massachusetts cultivation farm, seven retail brands and five full-service dispensaries across Massachusetts, Maine and New Jersey.
- Nova Farms secured its first licenses in Massachusetts shortly after the state’s legalization of adult-use cannabis in 2016, and its new openings to date have shown a consistent track record of growth and profitability.
- “Nova Farms has demonstrated its ability to operate successfully and identify attractive opportunities to accelerate progress.
- “Our partnership with Chicago Atlantic marks a new chapter in our longstanding contributions to the industry.
CHICAGO, April 8, 2024 /PRNewswire/ -- Chicago Atlantic has deployed a $20 million facility in senior secured financing to Nova Farms, a fully integrated cannabis operator managing a Massachusetts cultivation farm, seven retail brands, and five full-service dispensaries across Massachusetts, Maine, and New Jersey.
Key Points:
- CHICAGO, April 8, 2024 /PRNewswire/ -- Chicago Atlantic has deployed a $20 million facility in senior secured financing to Nova Farms, a fully integrated cannabis operator managing a Massachusetts cultivation farm, seven retail brands, and five full-service dispensaries across Massachusetts, Maine, and New Jersey.
- Nova Farms was among the first to secure licenses in Massachusetts upon the state's legalization of adult-use cannabis back in 2016.
- This trajectory solidifies Nova Farms' rising prominence in the cannabis industry, positioning the company for unparalleled success in the evolving market.
- "Nova Farms has demonstrated its ability to operate successfully and identify attractive opportunities to accelerate its progress.
Retrieved on:
Wednesday, August 16, 2023
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Management Mr. Shahi brings a global perspective to Nova Farms, having lived in India, Ireland and the Northeast United States, and has worked with companies based in Israel, China and North and South America.
Key Points:
- Mr. Shahi brings a global perspective to Nova Farms, having lived in India, Ireland and the Northeast United States, and has worked with companies based in Israel, China and North and South America.
- Mr. Shahi has evaluated hundreds of investment opportunities with a focus on what makes management teams successful and how to institutionalize processes to deliver scalability to strong operational teams.
- Mr. Shahi is the obvious choice as Nova prepares to enter the next phase of growth,” said Derek Ross, Chief Executive Officer of Nova Farms.
- I am excited to join the team to help achieve our goal of being the best-performing MSO in the Northeast,” said Shahi.
