NEW YORK, Aug. 21, 2019 /PRNewswire/ -- GreenAcreage
Real Estate Corp. ("GreenAcreage"), a recently formed net-lease
REIT that intends to provide sale-leaseback and build-to-suit
transactions to the regulated cannabis industry, announced today
the completion of a private placement offering of 7,060,150 shares
of its common stock for aggregate gross proceeds of approximately
$141 million. GreenAcreage is an
independently managed REIT led by Chief Executive Officer
Katie Barthmaier, President
David Carroll, Chairman Gordon DuGan, Chief Operating Officer
Wilson Pringle, and Chief Investment
Officer Jeff Lefleur. Together our
senior management team combines decades of net lease and public
company REIT experience.
GreenAcreage benefits from a strategic relationship with Acreage
Holdings ("Acreage"), one of the largest multi-state operators in
the industry. Acreage has provided GreenAcreage with an initial
pipeline of properties for sale and leaseback and a right of first
offer until May 31, 2022 for future
real estate properties and development projects. GreenAcreage
intends to provide Acreage and other leading cannabis operators
with access to long-term capital to fund their growth and expansion
plans.
"We are pleased to have completed our initial capital raise and
excited to build a diversified portfolio of industrial and retail
cannabis real estate," said Katie
Barthmaier, "Our objective is to allow companies in the
medical and recreational industry to release capital tied up in
their fixed assets and redeploy it into their core business."
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American: LTS) acted as the
lead initial purchaser/placement agent for the offering, Revere
Securities acted as co-initial purchaser/placement agent.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the common stock or any other
securities, and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.
For more information about GreenAcreage visit
www.GreenAcreageREIT.com
Contact Information:
GreenAcreage Real Estate Corp.
300 Park Avenue
New York, NY 10014
IR@GreenAcreageMgmt.com
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words like "may," "will," "likely,"
"should," "expect," "anticipate," "future," "plan," "believe,"
"intend," "goal," "seek," "estimate," "project," "continue" and
similar expressions. Forward-looking statements are neither
historical facts nor assurances of future performance.
Instead, they are based only on our current beliefs, expectations
and assumptions regarding the future of our business, future plans
and strategies, projections, anticipated events and trends, the
economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of our
control. Our actual results and financial condition may
differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these
forward- looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, changes in the condition of the U.S. economy
and, in particular, the U.S. real estate market.
The forward-looking statements included in this press release
are made only as of the date of this release, and except as
otherwise required by federal securities law, we do not have any
obligation to publicly update or revise any forward-looking
statements to reflect subsequent events or circumstances.
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SOURCE GreenAcreage Real Estate Corp.