Vireo Health International, Inc. (OTC: VREOF)Harvest Health & Recreation Inc.
Harvest Health & Recreation Inc. is a vertically integrated cannabis company based in Arizona with a dominant footprint it continues to grow in the state. At the present time, the company operates 15 dispensaries in Arizona with a total of 38 stores nationwide. With Arizona launching the adult recreational cannabis market Harvest could see substantial revenue growth this year. In fact, analysts estimate cannabis sales in the state of Arizona could double in 2021 with the addition of recreational sales.
In its latest earnings report, Harvest Q4 and full-year 2020 total revenue were up 98% the $231.5 million versus $116.8 million in 2019. Additionally, its fourth-quarter revenue was $69.9 million increasing 85% from Q4 in 2019. Most important, Harvest also gave a 2021 revenue target of $380 million and the first quarter 2021 revenue target of $87 million. The company had a total adjusted EBITDA of $15.3 mil
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Harvest Health & Recreation Inc. (OTC: HRVSF)Cresco Labs Inc.
Cresco Labs Inc. is one of the largest U.S. cannabis multi-state operators with a consumer-packaged approach. At the present time, the company is one of the largest sellers of branded cannabis products in the states. Currently, Cresco operates 20 dispensaries in 9 states with 15 production facilities in the U.S. In February the company closed the acquisition of Verdant Creations with four dispensaries in Ohio. Specifically, the acquisition gives Cresco a license for five dispensaries in the state. Cresco has launched adult-use cannabis sales in Arizona adding to the possibility of future revenue growth in 2021.
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The amount relates to a new lease executed at IIP’s Los Angeles, California property, which provides for a tenant improvement allowance of up to $11.0 million.
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The tenant is expected to complete tenant improvements at the property, for which IIP agreed to provide reimbursement of up to approximately $10.8 million.
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The amounts relate to the acquisition of additional land adjacent to an existing property and a lease amendment which provided a tenant improvement allowance and resulted in a corresponding adjustment to the base rent for the lease at the property. The tenant is expected to complete construction of two new buildings at the property comprising approximately 180,000 square feet in the aggregate, for which IIP agreed to provide reimbursement of up to approximately $51.4 million.