SOL Global Jumps Into Michigan Cannabis Market with $20 Million Investment In Common C Holdings LP
SOL Global Investments Corp. (CSE: SOL, OTC: SOLCF) has invested USD$20 million in Common C Holdings LP, a Michigan-based firm providing support services to licensed cannabis operators. This investment, acquiring 1.4 million Class B Common Units, positions SOL Global to capitalize on the rapidly growing Michigan cannabis market, which achieved $170 million in July revenues, marking over 500% growth in 18 months. Expected revenues in the state are projected to exceed $1.5 billion in 2021, climbing to $4 billion in the next 3-5 years.
- Investment of USD$20 million in Common C Holdings increases SOL Global's exposure in the growing Michigan cannabis market.
- Michigan's cannabis revenues grew to over $170 million in July, indicating strong market demand.
- Common C Holdings has plans to scale operations significantly with the potential for further revenue growth.
- None.
Insights
Analyzing...
Common
-
In the month of July, Michigan’s cannabis revenues were over
$170m m, which represents over500% growth over the last 18 months.1 -
Expected revenue in the state in 2021 will be over
and is expected to grow to$1.5B in the next 3-5 years.2$4B
Some of the key client assets
- Over 170,000 square feet of cultivation in current production, producing over 60,000 pounds in annual production (scalable up to 1,200,000 square feet, subject to additional licensing requirement); and
- 5 Retail operations and scaling to over 12 stores by 2022.
Common
“We reviewed a number of
About
SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. The Company’s investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company’s six primary business segments include Retail (QSR & Hospitality), Agriculture (including Cannabis), Technology (with a focus on Clean-Tech and Electric Vehicles), Esports and Gaming, Cryptocurrency, and New
The Company’s head office is located at
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This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may," "will," "expect," "likely," "should," "would," "plan," "anticipate," "intend," "potential," "proposed," "estimate," "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained in this press release includes, without limitation, information relating to the expected growth of the cannabis market in the
Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.
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Other risk factors include: the risks resulting from investing in companies that provide services to the
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1 https://calgaryherald.com/cannabis-news/michigan-sets-cannabis-sales-record-in-july/wcm/c3d2b724-2c8c-48cb-b5d5-ad304f1cbb05/amp/
2 https://www.greenentrepreneur.com/article/375971
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