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- 🌱 $96M Cannabis Deal, Delaware Licenses, Rogen's Drinks
🌱 $96M Cannabis Deal, Delaware Licenses, Rogen's Drinks
Welcome to Rise & Roll, a bi-weekly newsletter that keeps you smart, savvy, and always in the loop on the latest in cannabis.
Here’s what we have on deck for today…
Major lender drops $96M on cannabis company
Chicago Atlantic is betting big on cannabis, delivering a $96.5M financing package to Cansortium.
The deal combines $71.5M upfront to refinance existing debt with an additional $25M earmarked for strategic real estate acquisitions and construction projects.
This deal shows there's significant capital available for well-positioned cannabis companies. With debt payments extended to 2028, Cansortium has secured the flexibility to pursue expansion opportunities in high-potential markets like New York while strengthening their position in Florida, Pennsylvania, and Texas.
Delaware picks 15 winners from 529 license hopefuls
15 lucky operators just secured Delaware’s first adult-use dispensary licenses, beating out 514 other applicants.
Now the real work starts.
Winners have 18 months to check all the boxes — background checks, financial documentation, labor agreements, and local zoning compliance — or else their licenses get rescinded.
Two takeaways for operators:
With over 500 applications for just 15 spots, emerging markets are drawing massive interest from entrepreneurs
States are getting savvier about licensing — using strict timelines to ensure winners are ready to operate
Seth Rogen's Houseplant lands Total Wine deal
Total Wine & More is rolling out Houseplant's new THC-infused sparkling waters, marking a major milestone in cannabis beverage distribution.
The products pack a gentle 3mg THC punch and come in four flavors at $19.99 per four-pack. This retail partnership signals a shift in mainstream acceptance.
✔️ Celebrity name
✔️ Approachable dosing
✔️ Traditional retail placement
Houseplant's move could establish a blueprint for cannabis beverages to reach broader consumer segments.
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