Greenlight has executed definitive agreements to acquire an operating adult-use dispensary in Las Vegas, Nevada, and a cultivation facility in Buckhannon, West Virginia. Upon approval by the regulatory bodies, Greenlight will have 30 operating dispensaries and over 200,000 sq. ft. of cultivation and manufacturing space in 6 states.
Greenlight has also issued a third seven-figure dividend to its shareholders, following the first-ever issuance of a dividend by an MSO in April of this year. In 2023, Greenlight has returned consecutive dividends that amount to over 13% of the total invested capital in the company.
Greenlight continues its strategic growth and expands its footprint in limited license markets with the pending acquisition of an operating recreational and medical dispensary in Las Vegas, Nevada. In addition, the company has acquired a new cultivation facility in Buckhannon, West Virginia, vertically integrating Greenlight's operations in the state.
John Mueller, co-founder & CEO, Greenlight stated, "With more than 580 dedicated employees and exceeding $200 million in annualized revenue, we continue to focus on strategically growing as a debt-free and profitable organization. Our strategic approach and disciplined business model have allowed us to pursue our growth initiatives in the face of challenging regulatory and economic conditions affecting the broader cannabis industry. This significant milestone for Greenlight reflects our dedication to leading the industry through prudent financial management and strategic expansion."
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Photo by Ryan Lange on Unsplash
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