CHICAGO, January 03, 2022 (GLOBE NEWSWIRE) – Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic”), today announced that it is acting as Sole Lender on a New Credit Facility Senior secured credit for MEDfarms LLC (“MEDfarms”), a vertically integrated operator in Michigan.
“We are extremely excited to support Brandon and MEDfarms, provide accretive capital to strengthen MEDfarms’ balance sheet and increase the company’s market share in Michigan. MEDfarms has a proven track record as a premier operator in Michigan, with a superior branding, top-notch culture and loyal dispensaries in a competitive market, ”said Tom Miles, vice president of Chicago Atlantic . “MEDfarms has a strong leadership, brand and operations team and this capital will support the continued growth and expansion of the business in Michigan. “
Brandon Dabish, Founder of MEDfarms, said: “We are very pleased to continue our strategic growth plan through 2022 with Chicago Atlantic as our financial partner. With the help of Chicago Atlantic, MEDfarms will be able to open more locations, launch new products, establish new relationships with suppliers and customers, and expand our presence in other states. Obtaining key loan relationships in the cannabis industry can be very difficult, which is why we are excited to establish this new partnership with Chicago Atlantic by our side.
Based in central Michigan, MEDfarms has four dispensaries, two grow facilities, and two production facilities, making it one of Michigan’s most established vertically integrated players. The MEDfarms family of companies operates under the names of “Hashish Boys”, “Fire Creek” and “Dispo”. Award-winning MEDfarms brands include “HYMAN”, “Chill Medicated” and “Covert Cups”, among many others, which MEDfarms distributes through its network to hundreds of clinics across the state. MEDfarms specializes in the creation and distribution of brands and innovative products.
About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. is a commercial real estate finance company that trades on NASDAQ under the symbol REFI and manages a diverse portfolio of cannabis mortgage mortgage investments and actively invests throughout the value chain. The Company’s management team has over 100 years of combined experience in mortgage lending, direct lending, real estate acquisitions and development, investment advice, risk management and advisory. The Company’s website is available at https://investisseurs.refi.reit/.
This press release contains forward-looking statements and information relating to REFI which are based on the beliefs of management as well as on the assumptions made by management and on the information currently available to it. When used in this press release, words such as “may”, “will”, “should”, “could”, “intention”, “possible”, “continue”, “anticipate”, ” believe “,” estimate “,” expect “,” plan “,” target “,” predict “,” project “,” seek “and similar expressions in relation to the Company are intended to identify forward-looking statements. These statements reflect the current views of management with respect to future events, are not guarantees of future performance, and involve risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be correct. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements.
All forward-looking statements contained in this communication are based on assumptions which the Company considers to be reasonable as of that date. Except as required by law, the Company assumes no obligation to update these forward-looking statements or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Contact Information: For all Chicago Atlantic financing inquiries, please contact: Thomas Miles Vice President Chicago Atlantic Real Estate Finance, Inc. (847) 373-5804 [email protected]
For media and investor inquiries regarding Chicago Atlantic, please contact: Investor Relations Chicago Atlantic Real Estate Finance, Inc. [email protected] (312) 809-7002
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