Per our earlier article.. it’s all about New Jersey for the last quarter of 2020. The state may well explode in opportunities and business very quickly post referendum (and all the drama and disaster that goes with it!)
MJ Biz report on how much money Acreage were willing to repay as interest to secure the huge sums of money needed for a license.
How much is a New Jersey medical marijuana license worth, with the potential of leveraging that into an adult-use permit in the near future?
For New York-based marijuana multistate operator Acreage Holdings, it was worth paying $3 million in interest for four months.
Acreage said Monday it has paid about $18 million to retire a $15 million, 60%-interest rate loan taken out in June.
The company confirmed in a news release Monday that the debt proceeds were used to close the acquisition of a vertically integrated medical marijuana operation in New Jersey.