{"id":471593,"date":"2021-04-06T08:03:53","date_gmt":"2021-04-06T12:03:53","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=471593"},"modified":"2021-04-06T08:03:53","modified_gmt":"2021-04-06T12:03:53","slug":"farmaceuticalrx-closes-up-to-21-0-million-in-debt-financing-from-afc-gamma-to-expand-medical-marijuana-operations-in-ohio","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/farmaceuticalrx-closes-up-to-21-0-million-in-debt-financing-from-afc-gamma-to-expand-medical-marijuana-operations-in-ohio\/","title":{"rendered":"FARMACEUTICALRX Closes Up To $21.0 Million In Debt Financing From AFC Gamma to Expand Medical Marijuana Operations in Ohio"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n PITTSBURGH<\/span>, April 6, 2021<\/span> \/PRNewswire\/ —\u00a0FARMACEUTICALRX<\/b>, the leading natural and organic multistate vertically integrated medical marijuana operator in the United States<\/span> (“FARMACEUTICALRX” or the “Company”), today announced that it has closed an up to $21 million<\/span> senior secured term loan (the “Senior Term Loan”) with AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC”). <\/p>\n

The Senior Term Loan proceeds will be used to fund construction of the Company’s processing and Level 1 cultivation facility in Ohio<\/span> and for general working capital purposes. Upon certification of operations at the new facility, FARMACEUTICALRX’s Ohio<\/span> operations will be vertically integrated. The Company will bring world-class cultivation and processing methods from the FARMACEUTICALRX of Pennsylvania<\/span> operations to the new 100,000 square foot facility in East Liverpool, Ohio<\/span>. The Company currently operates a highly rated dispensary in East Liverpool<\/span>.<\/p>\n

“We have secured funding to take advantage of the tremendous opportunity in Ohio<\/span> and to build on the momentum and market-leading position we developed in Pennsylvania<\/span>,” said Rebecca Myers<\/span>, CEO and Founder of FARMACEUTICALRX. “We continue to expand strategically.\u00a0Ohio is a very attractive limited license state and the right market for us. This financing with AFC reflects the confidence lenders have in the strong growth, cash flow generation and profitability that FARMACEUTICALRX has demonstrated. AFC understands our vision and the ability of our team to replicate its success in other markets and states. We are excited to partner with the AFC Team.\u00a0 We are continuing our commitment to innovation, to cultivating and producing premier high quality organic and craft medical marijuana products for our loyal customers, and to being disciplined stewards of capital for our shareholders,” stated Myers.<\/p>\n

\n ABOUT FARMACEUTICALRX.
<\/b>FARMACEUTICALRX is the leading natural and organic multistate vertically integrated medical marijuana operator in the United States<\/span>. FARMACEUTICALRX is focused on bringing research and development-based innovation to the medical marijuana sector.\u00a0FARMACEUTICALRX develops premier high-quality craft and innovative organic products under its existing FARMACEUTICALRX brand. The Company’s Burst of Wellness brand combines the quality that FARMACEUTICALRX is known for, at a lower price point, with the goal of expanding the Company’s reach to a broader demographic of patients.\u00a0The FARMACEUTICALRX affiliated companies are licensed to offer premier high quality medical marijuana products to more than 26 million patients in Ohio<\/span> and Pennsylvania.\u00a0FARMACEUTICALRX is led by a world-class team of scientists, healthcare, organic food and beverage and cannabis industry professionals who are driven by the discovery, development, and manufacturing of revolutionary, high quality natural and organic products through its vertically integrated platform. Our innovation is your future health.<\/b>\u00a0 Learn more at www.farmaceuticalrx.com<\/a>.<\/p>\n

\n Forward-Looking Statements
<\/b>This news release includes forward-looking information and statements, which may include, but \u200eare not limited to, information and statements regarding or inferring the future business, \u200eoperations, financial performance, prospects, and other plans, intentions, expectations, estimates, \u200eand beliefs of the Company. Words such as “expects”, \u200e\u200e”continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify \u200eforward-looking statements. These forward-looking statements are based on the Company’s \u200ecurrent projections and expectations about future events and financial trends that management \u200ebelieves might affect its financial condition, results of operations, business strategy and financial \u200eneeds, and on certain assumptions and analysis made by the Company in light of the experience \u200eand perception of historical trends, current conditions and expected future developments and \u200eother factors management believes are appropriate. Forward-looking information and statements \u200einvolve and are subject to assumptions and known and unknown risks, uncertainties, and other \u200efactors which may cause actual events, results, performance, or achievements of the Company \u200eto be materially different from future events, results, performance, and achievements expressed \u200eor implied by forward-looking information and statements herein. Although the Company \u200ebelieves that any forward-looking information and statements herein are reasonable, in light of \u200ethe use of assumptions and the significant risks and uncertainties inherent in such information \u200eand statements, there can be no assurance that any such forward-looking information and \u200estatements will prove to be accurate, and accordingly readers are advised to rely on their own \u200eevaluation of such risks and uncertainties and should not place undue reliance upon such \u200eforward-looking information and statements. Any forward-looking information and statements \u200eherein are made as of the date hereof, and except as required by applicable laws, the Company \u200eassumes no obligation and disclaims any intention to update or revise any forward-looking \u200einformation and statements herein or to update the reasons that actual events or results could or \u200edo differ from those projected in any forward looking information and statements herein, whether \u200eas a result of new information, future events or results, or otherwise, except as required by \u200eapplicable laws.\u200e<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/farmaceuticalrx-closes-up-to-21-0-million-in-debt-financing-from-afc-gamma-to-expand-medical-marijuana-operations-in-ohio-301262602.html<\/a><\/p>\n

SOURCE FARMACEUTICALRX<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire PITTSBURGH, April 6, 2021 \/PRNewswire\/ —\u00a0FARMACEUTICALRX, the leading natural and organic multistate vertically integrated medical marijuana operator in the United States (“FARMACEUTICALRX” or the “Company”), today announced that it has closed an up to $21 million senior secured term loan (the “Senior Term Loan”) with AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC”). The Senior Term Loan proceeds will be used to fund construction of the Company’s processing and Level 1 cultivation facility in Ohio and for general working capital purposes. Upon certification of operations at the new facility, FARMACEUTICALRX’s Ohio operations will be vertically integrated. The Company will bring world-class cultivation and processing methods from the FARMACEUTICALRX of Pennsylvania operations to the new 100,000 square foot facility in East … <\/p>\n

Continue reading “FARMACEUTICALRX Closes Up To $21.0 Million In Debt Financing From AFC Gamma to Expand Medical Marijuana Operations in Ohio”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-471593","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFARMACEUTICALRX Closes Up To $21.0 Million In Debt Financing From AFC Gamma to Expand Medical Marijuana Operations in Ohio - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/farmaceuticalrx-closes-up-to-21-0-million-in-debt-financing-from-afc-gamma-to-expand-medical-marijuana-operations-in-ohio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FARMACEUTICALRX Closes Up To $21.0 Million In Debt Financing From AFC Gamma to Expand Medical Marijuana Operations in Ohio - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire PITTSBURGH, April 6, 2021 \/PRNewswire\/ —\u00a0FARMACEUTICALRX, the leading natural and organic multistate vertically integrated medical marijuana operator in the United States (“FARMACEUTICALRX” or the “Company”), today announced that it has closed an up to $21 million senior secured term loan (the “Senior Term Loan”) with AFC Gamma, Inc. 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