NEWLAKE CAP PARTNERS INC - NLCP STOCK NEWS

NewLake Capital Partners (OTCQX: NLCP) announced that CEO Anthony Coniglio will participate in the KCSA Cannabis Virtual Investor Conference on October 27, 2022, at 11:30 a.m. ET. The company specializes in providing real estate capital to state-licensed cannabis operators through various financial structures, including sale-leaseback transactions and funding for build-to-suit projects. NewLake holds a portfolio of 31 cannabis facilities leased on a triple-net basis, further strengthening its position in the cannabis real estate market.

NewLake Capital Partners (OTCQX: NLCP) has declared a third-quarter 2022 cash dividend of $0.37 per share, translating to an annualized rate of $1.48. This marks the company's sixth consecutive quarterly dividend hike, reflecting a 5.7% increase from the previous quarter. The dividend will be payable on October 14, 2022, to stockholders on record as of September 30, 2022. NewLake specializes in providing real estate capital to state-licensed cannabis operators, owning 31 cultivation and dispensary facilities under triple-net lease agreements.

NewLake Capital Partners (OTCQX: NLCP) announced that its CEO, Anthony Coniglio, will speak at three cannabis conferences in September 2022. The events include the Alliant, CohnReznick & Duane Morris Cannabis Executives Conference on September 8, the Benzinga Cannabis Capital Conference on September 13, and the KCSA Cannabis Virtual Investor Conference on September 29. Interested parties can register for the conferences through the provided links. As a real estate investment trust, NewLake specializes in providing capital to state-licensed cannabis operators.

NewLake Capital Partners, a key player in real estate capital for state-licensed cannabis operators, announced that CEO Anthony Coniglio will attend the Wolfe Research Late Summer Virtual Consumer Conference from August 24 to August 25, 2022. Coniglio will participate in the Cannabis Cultivation & Capital Panel on August 24 at 9:15 a.m. ET. Investors interested in scheduling one-on-one meetings with management can contact Wolfe Research representatives or email KCSA Strategic Communications.

NewLake Capital Partners achieved Q2 2022 revenue of $10.5 million, marking a 59% year-over-year increase. The net income attributable to common stockholders was $3.8 million, though it declined from $5.0 million in Q1 2022 due to one-time severance costs of $1.6 million. The company successfully increased its credit facility from $30 million to $90 million, enabling continued investment in high-quality assets.

The projected dividend is $0.35 per share, up from $0.33 the previous quarter.

NewLake Capital Partners (OTCQX: NLCP) has significantly expanded its five-year revolving credit facility from $30 million to $90 million, adding two new lenders. The facility, which matures in May 2027, offers a fixed interest rate of 5.65% for the initial three years, transitioning to a floating rate afterward. CEO Anthony Coniglio emphasized that this increase in capital access represents a competitive advantage amid market challenges, supporting the company’s continued investment in cannabis real estate.

NewLake Capital Partners (OTCQX: NLCP) will host a conference call on August 10, 2022, to discuss its second quarter financial results ending June 30, 2022. Interested parties can access the call at 10:00 a.m. Eastern Time via U.S. Toll-Free number or through an international line. A replay of the call will be available until August 24, 2022. NewLake is a real estate investment trust providing capital to cannabis operators and currently manages a portfolio of 31 cultivation and dispensary facilities, with two loans totaling $35 million.

NewLake Capital Partners (OTCQX: NLCP) has fully committed $50 million from its IPO capital, acquiring two operational cannabis cultivation properties in Pennsylvania and Nevada and amending an existing lease for an expansion. The acquisitions include a 38,000 sq. ft. facility in Pennsylvania for $14.5 million and a 56,500 sq. ft. facility in Nevada for $13.6 million. Additionally, $21 million was invested to expand existing facilities. NewLake's CEO highlighted the strategic partnership with a new publicly-traded MSO and the potential for growth in the U.S. cannabis market.

NewLake Capital Partners (OTCQX: NLCP), a provider of real estate capital for state-licensed cannabis operators, announced that President Anthony Coniglio will speak at the Force Family Office Cannabis Symposium on June 29, 2022. The symposium will feature a panel discussion on Cannabis Real Estate Investing, moderated by Owen Bennett from Jefferies. NewLake operates a portfolio of 28 cultivation facilities and dispensaries, offering capital through sale-leaseback transactions and loans. For details on one-on-one meetings, contact KCSA Strategic Communications.