Marijuana multistate operator Curaleaf Holdings said it has secured a $40 million revolving line of credit from a “major commercial regional bank.”
Curaleaf will use the credit line from Needham Bank in Massachusetts for general corporate purposes and working capital, according to a news release.
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Boris Jordan, the New York-based MSO’s chair and CEO, said the credit line will provide flexibility traditionally not available to the cannabis sector and allows the company to continue growing in what continues to be a difficult capital-raising environment.
“In my first few months in my new role as CEO, I’ve been focused on cost-savings measures across every facet of the business with the intent of driving profitable growth,” he said in a statement.
“With our new revolving
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