LeafLink closes $250m credit facility in big deal for marijuana industry
New York-based LeafLink operates a marketplace for marijuana retailers to buy cannabis products
New York — LeafLink, a wholesale marketplace for cannabis, closed a $250m credit facility, marking one of the largest debt deals to date as the marijuana industry ventures into the world of credit.
Marijuana stocks rode highs from late 2017 to 2018, as investors sought to enter the budding business that was emerging from prohibition as states relaxed their laws. But the market tumbled over the past year as that optimism faded amid challenges that include a patchwork of state regulations and no access to traditional banking services. This has left the industry, which cannot sell bonds or tap bank loans, starved for access to liquidity...
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