Posted on February 28, 2022 / 194Listing ID: 355549APPLY FOR A BUSINESS LOAN
Cannabis & Hemp Insurance
Price : $1,200,000
Status : ACTIVE
Company Name : Green Life Business Group, Inc
Phone : (619) 433-5773

Great opportunity to acquire a turnkey operational cannabis Cultivation and Manufacturing business in the highly desired city of Providence, Rhode Island. This is a Rhode Island-licensed, full-service marijuana cannabis cultivation and manufacturing business that is currently generating revenue. The business is currently operating under a multi-phase expansion plan, which after completion shall meet the 5,000 sq. ft. “Class A” license cap. 

Adult-use cannabis is expected to be approved in Q3 2022 and the facility can be expanded up to 50,000 sq. ft. if needed. The State of Rhode Island stopped accepting new cultivation applications for licensing in 2017, making this particular license scarce. An increase in acquisition costs is expected once the approval of adult-use cannabis legislation takes place. 

This is a great opportunity for someone who is looking to target a major cannabis market in Rhode Island, a Multi-State Operator looking to expand their footprint in the industry, or someone who is looking to enter the industry. 

Cannabis Businesses were labeled as essential businesses in March of 2020, meaning that the Department of Public Health clarified that Cannabis has medical uses, allowing all cannabis businesses to remain open.

Details: 

  • State of Rhode Island Class A medical cannabis cultivation and manufacturing license 
  • Space: 5,000 sq. ft., of which approximately 2,500 is currently in use
  • Lease: Below market rent. Utilities only (no common charges, insurance or taxes)
  • Up to 50K sq. ft. Expansion Space Available
  • NO NEW LICENSES BEING ISSUED
  • No local licensing required
  • Adult-use to be approved in 2022
  • Assets included in sale: All FF&E and LHI in facility; brand identity; genetics
  • At current capacity, 1.5FT employees would be sufficient, not including contract labor for harvest. If fully expanded to 5k sq. ft., about 3 FT employees would be needed.

Licensing: 

Class A Medical Cannabis Cultivator (Includes Manufacturing): Class A cultivator licensees may not possess more than two hundred and fifty (250) mature marijuana plants and two hundred and fifty (250) seedlings which must be properly tagged and tracked in accordance with acceptable alternative tagging and tracking under Section 1.7(D). The size of the facility may not exceed 5,000 sq. ft. of “plant touching” floor area

Asking Price: $1,200,000.00 (Seller Open To Offers)

Must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released. This listing is Fully Exclusive only by Green Life Business Group, Inc.

If you have any questions Call Yesenia (619) 433-5773

Or Email : nationwide@glbgroupinc.com

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