Marlyand Cultivation Processing (MCP)/District Cannabis

When Ed Weidenfeld and I started District Cannabis in 2015, we committed to be a cultivation-driven company focused on producing the highest quality cannabis, at scale, and investing in state-of-the-art equipment and technology to reduce production costs. In Maryland, we built what we believe is among the most sophisticated, state-of-the-art cultivation facilities in the country and we appreciate that IIP recognized that in this transaction. Although we did not need to sell, we are a cannabis company, not a real estate company, and this sale/leaseback transaction allows us to repay 100% of our debt and return capital to our investors; in addition, our strong balance sheet and strong operating cash flow will allow us to take advantage of the growth opportunities we anticipate in the Maryland market.

Andras Kirschner, CEO and Co-Founder of MCP/District Cannabis.