Harborside Inc (OTCMKTS:HBORF) extended its lease agreement with the landlord for another six months. The Company applied with the California Bureau of Cannabis Control to convert its San Leandro dispensary to sell adult-use cannabis instead of medical-grade cannabis.
The six-month time allows Harborside to find a new location for its dispensary in San Leandro on favorable terms and improve visibility.
The new location allows the company to serve its existing patients and lower rent and boost profitability. It also allows catering to the needs of future consumers.
Harborside can save more than $2 million in operational expenses by moving to a new location with a 10-year lease and generate significant revenues.
Chairman of Harborside, Matt Hawkins, said the company carefully selects the new locations to improve its revenues and profitability by serving a large customer base. He is pleased to resolve the issues with the existing landlord and move forward to clinch opportunities in the new location.
GrowGeneration Corp (NASDAQ:GRWG) Enters A Partnership Deal With Belushi’s Farm
GrowGeneration Corp (NASDAQ:GRWG) signed a new partnership pact with Belushi’s Farm to equip its new greenhouse.
Jim Belushi incorporated Belushi’s Farm in 2015 in Oregon to grow recreational and medical cannabis. It uses cannabis to manufacture signature brands like The Blue Brothers, Belushi’s Secret Stash, and The Smell of SNL.
VP (Commercial Operations) at GrowGeneration, Jeremy Corrao, said its teams spent several weeks in Oregon working with Belushi’s Farm’s Jim and his team framing the plans and finding the top-grade supplies.
The professionals at GrowGeneration have expertise in cannabis grow techniques. It will use its exceptional services and supplies to support Jim’s vision.
Jim said the teams of GrowGeneration are joining hands with its groups in establishing a greenhouse that will double the yields. The teams of GrowGeneration have the skills and expertise to grow the plants with the necessary warm sun and light, crisp air, fresh soil, and water from Rogue River.
GrowGeneration operates over 53 stores that include two Oregon-based stores in the US. It is the fastest-growing cultivation retailer in the US. The Company’s 23 stores are situated in adjoining states like Washington, Nevada, and California.
GrowGeneration expects to generate revenues of up to $430 million in 2021.