Cannabis company Acreage repays 60%-interest loan
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.