WEST PALM BEACH, Fla., April  02, 2025  (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (NASDAQ:AFCG) (“AFC”) today announced that it has committed to a $14 million senior secured credit facility to various subsidiaries of Standard Wellness Holdings (“Standard Wellness”), a privately held multi-state operator of cannabis cultivation, processing, and retail facilities. $10.5 million of the senior secured credit facility was funded at close. Standard Wellness intends to use the proceeds from the loan to acquire a dispensary in Missouri, relocate a dispensary in Utah, and refinance and consolidate various debt facilities.

“Jared and the Standard Wellness team have proven to be astute capital allocators, and we are excited to support them as they continue to expand and optimize their business. As we continue to diversify our portfolio, Standard Wellness has many of the characteristics we are looking for in borrowers: a stable business in attractive limited license states, led by a battle-tested management team with a track-record of success,” said Daniel Neville, AFC’s Chief Executive Officer.

“Having closed on several debt facilities in the cannabis space, our team was extremely impressed with AFC’s working knowledge of the complexities of our industry. Their focus on meeting a tight timeframe to close and efficient approach to due diligence validated our decision to work with them and allowed us to cost effectively simplify our capital structure.” stated Jared Maloof, CEO of Standard Wellness.

AFC will hold the entire credit facility, which is secured by a first lien on all of Standard Wellness’s Utah operations and its dispensaries in St. Louis, MO and Cincinnati, OH, and a second lien on its Ohio cultivation facility. The collateral assets include owned real estate in Utah and Ohio and the value of those subsidiary’s cannabis licenses. AFC Agent LLC served as agent for this transaction.

In connection with the transaction, Gramercy Capital Group, LLC (through INTE Securities LLC) served as financial advisor to Standard Wellness.

About Advanced Flower Capital

Advanced Flower Capital Inc. (NASDAQ:AFCG) is a leading commercial mortgage REIT that provides institutional loans to state-law compliant cannabis operators in the U.S. Through the management team’s deep network and significant credit and cannabis expertise, AFC originates, structures, underwrites and manages loans ranging from $10 million to over $100 million, typically secured by quality real estate assets, license value and cash flows. It is based in West Palm Beach, Florida. For additional information regarding the company, please visit https://advancedflowercapital.com/.

About Standard Wellness

Founded in 2017 in Ohio, Standard Wellness is a vertically integrated cannabis company operating across Ohio, Missouri, and Utah, with cultivation, processing, and dispensary licenses in Maryland. The company operates five retail locations under The Forest brand and has been a pioneer in the industry, including making the first-ever legal marijuana sale in Ohio through its dispensary The Forest Sandusky and the first ever delivery to a Utah pharmacy in February 2020.

With approximately 350 employees, Standard Wellness is dedicated to improving quality of life by providing safe and legal access to cannabis for medical and adult use.

About INTE Securities, LLC:

INTE Securities LLC is a member of FINRA (www.finra.org) / SIPC (www.sipc.org). To view INTE Securities LLC, go to www.finra.org/brokercheck

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views and projections with respect to, among other things, market expansion and borrower activity and growth initiatives. All statements, other than historical facts, are forward-looking statements. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in AFC’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, could cause actual results and performance to differ materially from those projected in these forward-looking statements.

Investor Relations Contact

Advanced Flower Capital Inc.
Robyn Tannenbaum
561-510-2293 
[email protected]

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