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Vireo Growth Inc. Completes Loan Refinancing and Upsize With a Bank Led Syndicate Arranged by CEO, John Mazarakis
Globenewswire· 2025-07-08 20:30
Core Viewpoint - Vireo Growth Inc. has successfully refinanced its existing senior secured debt and expanded its credit capacity, resulting in significant interest savings and a stronger financial position for the company [1][4][5]. Group 1: Refinancing Details - The company closed a $120 million self-syndicated first lien term loan with leading banks, which refinances all existing senior secured obligations and is secured by a first-priority lien on substantially all assets [2][4]. - The three-year facility has an interest rate of 8.3% (1-month SOFR + 4.0%) and allows for prepayment at any time without penalty [2][3]. - Additionally, a $33 million second lien term loan was closed, featuring a $50 million accordion to support future strategic initiatives, with an interest rate of prime + 5.5% [3][4]. Group 2: Financial Impact - The refinancing is expected to generate over $10 million in annual interest savings, thereby enhancing the company's financial position and long-term shareholder value [1][4]. - The combined financing of $153 million strengthens the company's balance sheet with over $100 million in cash [1][4]. Group 3: Strategic Context - The refinancing follows a series of mergers that expanded Vireo's operational footprint and market leadership, consolidating and optimizing debt across the platform [4][5]. - The initiative reflects disciplined capital planning and strong institutional demand, with the senior facility being significantly oversubscribed [5][6]. Group 4: Leadership and Confidence - Lenders expressed confidence in the company's operating model, financial strategy, and leadership continuity, particularly the ongoing role of CEO John Mazarakis [6][7]. - The strong response from lending partners indicates progress made by the company and confidence in its ability to execute its long-term strategy [7].
FLUENT Celebrates First Adult-Use Dispensary with the rebrand of the recently acquired Kingston Dispensary in New York
Globenewswire· 2025-07-08 16:10
Core Insights - FLUENT Corp. has rebranded its Kingston, New York dispensary, marking its first adult-use storefront in the state following the acquisition of RIV Capital [1][2] - The rebranding signifies FLUENT's strategic entry into New York's adult-use cannabis market, aiming for brand consistency and customer loyalty [3][4] Company Strategy - The rebranding of the Kingston location is part of a broader strategy to unify the FLUENT experience across its geographic footprint, with plans to rebrand three additional dispensaries in New York [3][4] - FLUENT's mission focuses on delivering a premium cannabis experience based on trust, quality, and education, ensuring customers know what to expect from the FLUENT brand [5] Product Offering - The Kingston dispensary now features FLUENT's premium in-house product lineup, including brands like MOODS, Knack, Wandr, Bag-O, and Hyer Kind [4][6] - The company operates across multiple states, including Florida, New York, Pennsylvania, and Texas, with a total of 42 active retail locations [6] Operational Excellence - FLUENT is committed to operational excellence in cultivation, production, distribution, and retail experience, employing 700 staff across 8 cultivation and manufacturing facilities [6]
MariMed Announces Second Quarter 2025 Earnings Date
Globenewswire· 2025-07-08 11:30
NORWOOD, Mass., July 08, 2025 (GLOBE NEWSWIRE) -- MariMed Inc. (“MariMed” or “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading cannabis consumer packaged goods company and retailer, announced today it will report second quarter 2025 financial results on August 6, 2025 after the markets close. Management will host a conference call on August 7, 2025 at 8:00 a.m. EDT to discuss financial results. A webcast will be available and can be accessed via MariMed’s Investor Relations website at MariMed Q2 2025 Earnings ...
Bob Quartermain's revival bet: Dakota Gold targets next major U.S. gold mine in South Dakota
KITCO· 2025-07-07 18:07
Core Insights - Jeremy Szafron has joined Kitco News as an anchor and producer, bringing a wealth of experience in journalism, particularly in finance and current affairs [1][5] Background and Career Development - Jeremy began his journalism career in 2006 at CTV, initially focusing on entertainment before transitioning to business reporting, particularly in mining and small-cap sectors [2] - He gained recognition for his macro-financial and market trends analysis, becoming a sought-after commentator on CTV Morning Live and CTV News Network [2] - A significant highlight of his career was covering the 2010 Vancouver Olympic Games, which led to the development of an online video news program for PressReader, a digital newsstand with 8,000 editions in 60 languages [3] Digital Media and Industry Engagement - In 2012, Jeremy launched The Green Scene Podcast, which quickly attracted over 400,000 subscribers, establishing him as a prominent voice in the cannabis industry [4] - Following this success, he created Investor Scene and Initiate Research, platforms that provide exclusive market insights and deal-flow opportunities in mining and Canadian small-cap markets [4] Professional Expertise - Jeremy has experience as a market strategist and investor relations consultant for various publicly traded companies across mining, energy, consumer packaged goods (CPG), and technology sectors [5] - He holds a BA in Journalism from Concordia University, which has supported his diverse career trajectory [5]
3 Marijuana Stocks For The Investor To Consider Before A Recovery
Marijuana Stocks | Cannabis Investments And News. Roots Of A Budding Industry.™· 2025-07-07 13:21
Industry Overview - The cannabis industry is experiencing a turbulent period characterized by intense pullbacks and ongoing federal uncertainty, but solid long-term trends may drive major returns for patient investors [1] - Ancillary industries such as cannabis real estate, biotech, and consumer wellness are expected to benefit from the broader ecosystem expansion, making marijuana stock investing appealing as it offers exposure to an emerging, recession-resistant industry with high growth potential [2] Investment Opportunities - Multistate operators (MSOs), cannabis ETFs, REITs, and ancillary marijuana companies are positioned to see significant upside despite the volatility expected in 2025 [3] - The long-term investment case for marijuana stocks remains strong, and investors are encouraged to plan and strategize while weighing risks and rewards [3] Company Highlights - **Village Farms International, Inc. (NASDAQ: VFF)**: Recently regained compliance with Nasdaq's minimum closing bid price requirement of US$1.00 per share [6] - **SNDL Inc. (NASDAQ: SNDL)**: Reported Q1 2025 earnings with net revenue of US$204.914 million, a 3.6% increase from 2024, and gross profit of US$56.641 million, a 12.4% increase [11] - **High Tide Inc. (NASDAQ: HITI)**: Expanded its retail presence with the opening of two new Canna Cabana locations, bringing its total to 202 locations across Canada [13]
