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.
❖ Obtained and immediately drew down $50m senior secured loan from Whitehawk to fund capex for the Phase I retrofit of the
SoCal Farm in December 2021.
❖ SoCal Farm licenses acquired in 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.
Expanded from 3 Dispensaries to 10.
Raised $31m in cash in 2H22 via our Series B and Series C Preferred Stock offerings. In 2H23, have raised $12.8 million from
Series D Preferred Equity Fund Raise, expecting to close the round at $15 million soon.
Through the first 3 quarters of 2023, Glass House has produced cumulative Adjusted EBITDA of $20 million and operating
cash flow of $22 million.
We began retrofitting SoCal Farm Greenhouse 5 in July with cultivation expected to begin in Q1 2024 and first sale expected
in Q2 2024. When complete, it will expand annual capacity by 250,000 pounds, or more than 70%, to 600,000 pounds.1
GLASS HOUSE ACHIEVED 31 %
TO GROW 2023
REVENUE TO
THAN 75% GROWTH VERSUS
REVENUE GROWTH IN 2022 AND EXPECTS
$160 - $162
2022.
MILLION, WHICH IS MORE
1.
Assumes sufficient capital to complete the retrofit, the availability of additional licenses, and supporting market conditions.
3View entire presentation