Chicago Atlantic Admin announced that it acted as administrative agent on the funding of a $30 million senior secured credit facility for Deep Roots Holdings, a vertically integrated operator in Nevada with five open dispensaries, one dispensary planned to open in December 2024 and a standalone cultivation and processing facility.
This capital provided by Chicago Atlantic, on behalf of its affiliated investment funds, will support Deep Roots Harvest’s expansion as it takes on additional retail and cultivation assets across Nevada. In October 2024, Deep Roots Harvest acquired most of the assets of Nevada cannabis operator, The Source Holdings, including four retail operations, two provisional retail licenses and one operating facility for cultivation.
This deal move positions Deep Roots to operate 12 total dispensaries and establishes them as the market share leader in Nevada.
KEY QUOTES:
“Deep Roots is a company to watch in 2025, and it’s our pleasure to take a front row seat and support their growing investment portfolio. Their team has shown operational expertise at every level, exceptional business acumen and a strong balance sheet – We couldn’t be more excited to partner with them.”
- David Kite, Managing Partner at Chicago Atlantic
“Chicago Atlantic has quickly proven themselves as a valuable partner as we continue to invest across our portfolio of businesses,” said Capurro. “With a larger balance sheet and meaningful additional borrowing capacity, we are well positioned to execute on our broader strategy.”
- Keith Capurro, CEO of Deep Roots Harvest
