[PRESS RELEASE] – WEST PALM BEACH, Fla., April 2, 2025 – Advanced Flower Capital Inc. announced it had committed to providing a senior secured credit facility of $14 million to Standard Wellness Holdings. Standard Wellness Holdings is a private multi-state cannabis operator that operates cultivation, processing, and retailing facilities. At the close of business, $10.5 million was funded from the secured senior credit facility. Standard Wellness plans to use proceeds of the loan for the acquisition of a Missouri dispensary, relocation and consolidations debt facilities, as well as refinancing and consolidating various credit facilities.
Daniel Neville, CEO of AFC said: “Jared’s team and Standard Wellness have shown themselves to be savvy capital investors. We are thrilled to help them continue to grow and optimize their businesses.” Standard Wellness is a great candidate for our diversification strategy. It has a proven management team, a business that’s stable, and a limited-license state.
Standard Wellness’ CEO Jared Maloof commented, “Having completed several debt facilities within the cannabis sector, our team was very impressed by AFC’s understanding of the complexity of our industry.” The focus of AFC on completing the transaction within a short time frame and its efficient approach to due-diligence validated Standard Wellness’ decision to partner with them.
AFC will be the holder of all credit facilities, secured by first lien over Standard Wellness Utah operations as well as its dispensaries located in St. Louis, Cincinnati and Ohio and second lien over its Ohio cultivation facility. Collateral assets are owned property in Utah and Ohio, and value of cannabis licenses for these subsidiaries. AFC Agent LLC acted as agent in this transaction.
Gramercy Capital Group LLC through INTE Securities LLC acted as Standard Wellness’ financial advisor.