Investor Presentaiton
ACHIEVEMENTS
WE LISTED IN JUNE 2021, WHAT HAVE WE ACCOMPLISHED SINCE?
Acquired the 165-acre SoCal Farm, with 5.5m sq ft of cultivation footprint spread amongst 6 state-of-the-art greenhouses.
✰ Secured $100m senior secured loan facility from Whitehawk to fund capex for the entire retrofit of the SoCal Farm,
immediately drawing down the initial $50m required for Phase I capex in December 2021.
SoCal Farm licenses acquired by March 2022, first harvest in late May, first sale in late June - all ahead of schedule
Acquired PLUS Gummies - a top five California edibles brand - in April 2022
Started with 3 Dispensaries, have 10 now.
Raised $31m in cash in 2H22 via our Series B and Series C Preferred Stock offerings.
In the 2nd Half of 2022, which were the first two quarters of SoCal Phase I commercial operation, Glass House's gross profit
from wholesale biomass sales was $11.7 million, exceeding the previous ten quarters of wholesale biomass combined.
In early March 2023, announced plans to expand existing capacity by more than 80% by retrofitting an additional one million
sq ft of greenhouse acreage capable of producing 250,000 pounds of high-quality sun grown cannabis annually with
commercial cultivation to begin by the end of 2023. 1,2
AS A RESULT OF THIS ACTIVITY, GLASS HOUSE ACHIEVED 31% REVENUE
GROWTH IN 2022 AND EXPECTS TO GROW 2023 REVENUES BY MORE THAN
75% YEAR OVER-YEAR TO $160 MILLION. WE ALSO ACHIEVED FREE CASH
FLOW POSITIVE OPERATIONS IN 1 Q2 3, ONE QUARTER AHEAD OF
GUIDANCE.
1. Assumes sufficient capital for conversion, the availability of additional licenses, and supporting market conditions.
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