💸 High Impact

AFC Gamma Deploys Fresh Powder

The What - The cannabis industry is already off to a promising start this week, with momentum building as capital markets continue to advance in the face of reform. AFC Gamma, Inc. (Nasdaq:AFCG) announced that it has made strides by providing a new senior secured credit facility to Private Company Q and expanding existing facilities for BeLeaf Medical, LLC, and Sunburn Cannabis.

Private Company Q, a Georgia-based operator with a Class 2 cannabis license, received a $11 million commitment from AFC, with $4.3 million funded initially. This infusion will support the buildout of a cultivation and processing facility, along with the establishment of two new dispensary locations in Georgia, enabling the company to expand and better serve the medical cannabis market.

For BeLeaf, AFC committed an additional $5.5 million under the expansion of their facility, bringing the total expanded credit facility to $26.1 million. These funds will help finance the acquisition of two dispensaries in Missouri, enhancing the borrower’s vertical integration within the state.

Likewise, Sunburn received an additional $1.8 million under the expansion of their credit facility, increasing the total to $36.5 million. The additional funds will be used for the buildout of two new dispensaries and additional cultivation capacity in Florida, further solidifying the company’s presence and operations in the state.

Daniel Neville, CEO of AFC, expressed enthusiasm for supporting the growth of these companies, emphasizing the importance of fostering strong relationships and providing tailored financing solutions. The strategic investments align with AFC’s focus on deploying capital in restricted license states with promising supply-demand dynamics.

As the cannabis industry gains traction, all eyes are on Chicago this week with the DNC convention, where discussions on cannabis legalization and policy reforms could impact market sentiment and investor confidence. With many speculating the topic of cannabis reform being announced this week, along with rescheduling announcement rumoured to being fast tracked, stocks have been performing well as of late and with this morning’s announcement, could we start to see more capital inch it’s way back into the industry. building momentum over the past 2 weeks, along with capital The developments in the capital markets and AFC’s commitment to empowering cannabis businesses underscore the sector’s resilience and potential for growth in the evolving landscape of regulatory changes and market dynamics.

📈 Dog Walkers

Sunburn Cannabis Shines Bright In Florida

Sunburn Cannabis, a rapidly expanding Florida-based cannabis operator, secured additional capital from Poseidon, a leading venture capital fund in the cannabis sector. Alongside the investment, Poseidon's co-founder, Emily Paxhia, joined Sunburn's Board of Managers. Sunburn operates 14 retail locations across Florida, the largest medicinal cannabis market in the U.S., which could soon become the top legal market pending a vote on recreational use. Sunburn's success is attributed to its strong customer base and deep roots in Florida's cannabis history. Poseidon’s continued support underscores confidence in Sunburn's strategic growth in this competitive market.

RIV Capital and Cansortium Provide Update

RIV Capital Inc. and Cansortium Inc. are progressing with integration activities ahead of their anticipated business combination, aimed at creating a leading multistate cannabis platform. These efforts include adopting best practices across operations, aligning strategic production planning, and expanding their brand portfolio, particularly introducing Fluent's brands into the New York market. The combined company plans to launch innovative products and invest in advanced production equipment to enhance efficiency and cater to consumer demand. Additionally, a revamp of the in-store experience at Etain's locations is underway, aiming to boost customer engagement and drive sales, positioning the merged entity for long-term growth and profitability.

The DNC Has Kicked Off

As the Democratic National Convention unfolds in Chicago, Governor J.B. Pritzker's campaign highlights Illinois Democrats' successful marijuana legalization, signaling cannabis reform as a key voter appeal for the upcoming November election. Billboards near downtown Chicago emphasize this achievement, reflecting the party’s strategic focus. With Vice President Kamala Harris poised to secure the 2024 nomination, Pritzker's move aligns with broader party efforts to showcase progressive achievements, including marijuana reform, which enjoys strong voter support, particularly in battleground states like Wisconsin. This messaging underscores the party’s commitment to cannabis policy as a pivotal electoral issue.

🗞️ The News

Illinois Governor Promotes Marijuana Legalization With Billboards Near Democratic Convention In Chicago

Ohio’s Rising Cannabis Market: Top Players and Promising Growth

Cannabis Stocks, DNC Convention and Market Outlook This Week

Democrats Approve 2024 Platform Touting Marijuana Reform Support And Bashing Trump’s Anti-Cannabis Actions

📺 YouTube

Cannabis Rescheduling News Live From The DNC

What we covered:

✅ On today episode of Trade To Black, Host Anthony Varrell and Guap dive into the headlines shaping the industry this morning and Adam Goers - Co-Chair of Coalition for Cannabis Scheduling Reform will join us live from the DNC.

👀 Sunburn Cannabis Secures New Investment from Poseidon

🌿 JD Vance Claims There’s ‘Fentanyl In Our Marijuana

😶‍🌫️ Was There A DEA Rescheduling Leak?

😱 Florida Public Consumption