The Harvest Company, bringing its footprint to 55 locations nationwide.
The Denver-based chain of specialty hydroponic and organic garden centers opted to purchase the northern Californian company, which operates stores in Redding and Trinity County and serves growers based in California s Emerald Triangle, the largest cannabis-producing region in the U.S.
Darren Lampert, CEO of GrowGeneration, emphasized that the Emerald Triangle has tremendous market potential with more than 500 cultivation licenses in Trinity County alone.
He called California Grow Gen s critical market, highlighting that the company is expanding in Reeding as well, through a highly respected and leading hydroponics store such as Harvest Company.
GrowGeneration Corp. (NASDAQ: GRWG)Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a real estate company specifically focusing on leasing properties to licensed companies in the regulated U.S. cannabis industry. With its most recent expansion, IIP owns 68 properties across 18 states in the U.S. In April the company announced it entered into an agreement with a Jushi Holdings Inc. (OTC: JUSHF) subsidiary in Pennsylvania for a cannabis growing and processing facility. In detail, IIP is adding an additional $30 million in funding for the completion and buildout of the facility and has a total investment of approximately $45.8 million.
In February IIP released full-year 2020 financials that showed strong revenue growth. The company generated total revenues last year of approximately $116.9 million up 162% from 2019 but missed estimates by analysts. Another important part about IIP declared is its dividend to shareholders totaling $4.47 per share a 58% i