AFC Gamma, Inc., known for its expertise in financing cannabis businesses compliant with state regulations, recently declared its provision of $34.0 million in senior secured loans to High End Holdings, LLC and Green Sentry Holdings, LLC, operating under the name Sunburn Cannabis. This private company, which operates solely in Florida and has been growing since 2022, will use this financial support to enhance its balance sheet and amplify its operations in Florida’s burgeoning medical cannabis sector.
Sunburn’s Rise to Prominence in Florida
Since its foray into the Florida market in 2022, Sunburn has climbed to the top 5 ranks of medical cannabis operators in the state, gauged by sales per dispensary. AFC Gamma’s CEO, Daniel Neville, highlights Sunburn’s strong positioning for continued market growth, aligning with the shift towards consumer packaged goods in the industry.
Brady Cobb, Sunburn’s CEO, has expressed his appreciation for finalizing the loan agreements with AFC Gamma. He emphasizes that this financial injection enables Sunburn to prudently expand its Florida operations while preparing for key developments that could further solidify its market position. The funds will aid in adapting to the ever-changing industry dynamics and assertively growing in the sector.
Financial backing from a seasoned lender like AFC Gamma is crucial for companies like Sunburn Cannabis to remain competitive in the fast-paced medical cannabis industry. This support allows Sunburn to further fortify its operations and meet the increasing consumer demand.
The Backstory of Sunburn Cannabis
Sunburn Cannabis, established by Brady Cobb and his late father, Clyde Walton Bill Cobb — a notorious cannabis smuggler in the 70s and 80s — aims to craft a distinguished southern cannabis brand imbued with America’s spirit of rock n’ roll rebellion. Its legacy is tied to “Operation Sunburn,” a series of DEA operations that culminated in Walton Bill Cobb’s arrest, with the brand reflecting a legacy of defiance and freedom in producing premium cannabis.
The Role of AFC Gamma’s Loans
AFC Gamma specializes in bridge loans and direct lending opportunities, typically in the range of $5 million to $100 million, across various real estate sectors. These financial arrangements position AFC Gamma as a pivotal ally in nurturing the growth and stability of established, state-law-abiding cannabis businesses, helping them thrive in a shifting market.
Navigating a Rapidly Evolving Industry
As the medical cannabis market rapidly evolves, it’s crucial for businesses to adapt swiftly to stay competitive. AFC Gamma’s funding is essential for firms like Sunburn to cement their position in this dynamic environment, allowing them to expand their operations and maintain their status as one of Florida’s leading medical cannabis operators.
Backed by robust support from AFC Gamma, Sunburn Cannabis is gearing up for an exciting phase of expansion. The company is set to continue its trajectory as a key player among Florida’s top medical cannabis operators, offering high-quality products to an expanding consumer base.
Rita Ferreira
Rita is a seasoned writer with over five years of experience, having worked with globally renowned platforms, including Forbes and Miister CBD. Her deep knowledge of hemp-related businesses and passion for delivering accurate and concise information distinguish her in the industry. Rita's contributions empower individuals and companies to navigate the complexities of the cannabis world, and her work remains a valuable resource for those seeking a deeper understanding of its potential.
