The Cannabist Company Announces Closing on Sale of Florida Assets to MINT Cannabis and SHANGO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 07 2024
0mins
Source: Businesswire
Transaction Overview: The Cannabist Company has completed the sale of 14 Florida dispensaries and two cultivation facilities to MINT Cannabis and SHANGO for approximately $5 million, with $3 million paid in cash and a $2 million promissory note issued.
Strategic Shift: This sale is part of the company's strategy to streamline its portfolio and improve profitability by exiting the Florida market, allowing them to strengthen their balance sheet and focus on more sustainable business operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
