After receiving a $20 million loan from cannabis lending firm Chicago Atlantic, multistate operator Nova Farms plans to expand its presence in significant legalized markets, including New Jersey, Massachusetts and Connecticut.
In an April 8 statement announcing the new senior secured financing facility, Nova Farms Chief Executive Officer Derek Ross said it “marks a new chapter” for the 8-year-old Massachusetts-based company. “It’s an honor to have a financial partner who believes in our integrated approach working directly with our team to chart a roadmap for realizing our goals,” he said. “This collaboration not only accelerates Nova Farms’ strategic plans but also ensures its competitive edge as a leader in the cannabis market.”
Considered the Northeast’s largest privately owned, vertically integrated cannabis operator, Nova Farms operates five full-service dispensaries and seven retail brands.
