NEWLAKE CAP PARTNERS INC - NLCP STOCK NEWS

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.

NewLake Capital Partners (NLCP) announced a second quarter 2022 cash dividend of $0.35 per share, marking its fifth consecutive quarterly increase. This equates to an annual dividend of $1.40 per common share. The dividends will be distributed on July 15, 2022, to stockholders recorded by the close of business on June 30, 2022. NewLake Capital, a real estate investment trust, focuses on providing capital to state-licensed cannabis operators, owning 28 cultivation facilities and dispensaries under triple-net leases.

NewLake Capital Partners, a key provider of real estate capital for licensed cannabis operators, announced that its President, Anthony Coniglio, will participate in the Needham & Co. Debt Financing in the US Cannabis Industry webinar on June 16, 2022, at 10:30 a.m. ET. This event is hosted by Senior Cannabis Analyst Matt McGinley. After the webinar, interested parties can arrange one-on-one meetings with NewLake's management through a Needham representative or by contacting KCSA Strategic Communications.

NewLake owns 28 cultivation facilities and dispensaries, utilizing a triple-net lease model.

NewLake Capital Partners, Inc. (OTCQX: NLCP) announced the promotion of Anthony Coniglio to Chief Executive Officer, effective July 15, 2022. Coniglio, who has extensive experience in the cannabis real estate sector, was previously the President and Chief Investment Officer. This change aligns with a succession plan initiated during the Company's merger in March 2021. Current CEO David Weinstein will remain on the Board of Directors and Investment Committee, continuing to support the Company. The leadership transition aims to enhance growth in the dynamic cannabis industry.