Glass House Brands Expansion Strategy
ACHIEVEMENTS
WE LISTED IN JUNE 2021, WHAT HAVE WE ACCOMPLISHED SINCE?
Acquired the SoCal Farm for $93m in cash, a $25m discount from the originally agreed price, in September 2021. Total
consideration, including cash, share compensation and earnout contingencies was valued at $157 million at end Q3 2021
❖ Secured $100m in Financing from Whitehawk for SoCal Farm 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 7 now, aim to have 10 by year-end 2022
✰ Glass House's potential cultivation footprint is substantially larger than that of many top MSOs, and it is concentrated in
only 3 farms all located in the world's best growing climate
The California market may be tough, but like training at altitude produces championship performances, we believe the
national winners will come out of California
AS A RESULT OF THIS ACTIVITY, GLASS HOUSE IS POISED TO
ACHIEVE APPROXIMATELY 25% REVENUE GROWTH IN 2022, AND
TO
MORE THAN DOUBLE OUR REVENUES IN 2023 VERSUS 2021.
WE ARE ALSO ON A PATH TO ACHIEVE FREE CASH FLOW POSITIVE
OPERATIONS EX-CAMARILLO EXPANSION CAPEX BY Q3 2023.
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