Under the radar cannabis companies watch out

When we built Cannabiz Media’s Cannabiz Intelligence ™ Based on business intelligence, we identified a number of cannabis companies that operate under the radar today but could offer great opportunities in the future. In other words, these are the companies to keep an eye on!

Four of those cannabis companies that are under the radar are (in alphabetical order) Etain Health, Ethos Cannabis, Finn Fettle Dispensaries, and Terrabis. Let’s take a closer look at each one.

Etain Health, LLC

Etain Health, both a women’s and a family business, was one of the first to obtain a cannabis business license in the vertically integrated medical marijuana market in New York. The company focuses on providing high quality, consistent cannabis products made from proprietary strains.

Today Etain Health operates five facilities in New York that are licensed to grow, manufacture, dispense and supply. The company also has a California office with licenses to manufacture and sell in the state.

You can see the breakdown of Cannabiz Media’s Cannabiz Intelligence base in the image below.

With adult cannabis coming to New York, Etain Health is actively investing in expanding its operations across the state. Hillary Peckham, Chief Operating Officer, told the Cannabis Business Times in April 2021, “Scaling requires access to capital and we are trying to find our next steps to make it happen. We need to build up additional cultivation space and invest in more equipment for various forms of products as there will be more acceptable forms such as edibles when used by adults that we do not currently have in the medical market. “

In 2020, the company began looking with its real estate development partner for access to capital to support cash flow needed to build a $ 7 million, 60,000 square foot greenhouse (42,000 square foot) and manufacturing (18,000 square foot) extension. is required . ft.) home to its medical cannabis cultivation and processing facility in Chestertown, NY. Upon completion, the investment would add $ 1 million in manufacturing facilities and nearly double the Etain Health workforce within two years of completion.

Etain Health funded the project with a $ 5.1 million bank loan it received from the National Bank of Coxsackie in the summer of 2020. The remainder of the project was funded by equity of $ 2 million and is expected to be completed by the end of 2021.

Ethos cannabis

Ethos Cannabis, a privately held multistate operator led by the former CEO and founder of Pharmacan (one of the largest vertically integrated cannabis companies in the United States), is expanding rapidly and now has facilities in three states in the northeast.

Nine of its facilities are in Pennsylvania, where the company holds cultivation, manufacturing, pharmacy and research licenses). In Massachusetts, Ethos Cannabis has four facilities and licenses to grow, manufacture, pharmacy, and retail. The company also has three Maryland facilities and three pharmacy licenses.

You can see the geographic breakdown in the graphic below of Cannabiz Media’s Cannabiz Intelligence base.

The company began growing aggressively in 2020 by acquiring new licenses and existing licenses in key strategic states with the aim of expanding its presence in the East Coast, Midwest and Mid-Atlantic states.

In early 2020, Ethos acquired cannabis from 4Front Ventures Corp. one operational pharmacy in Allentown, Pennsylvania; and four operational pharmacies in Maryland. This purchase not only allowed the company to enter the Maryland cannabis market, but it also immediately gave Ethos Cannabis the maximum number or pharmacy locations it could have under applicable Maryland laws. At the same time, the company quickly opened four pharmacies in Massachusetts within six months.

All of that growth requires capital that Ethos Cannabis raised by raising over $ 50 million in debt and equity to fund its acquisition of Maryland Pharmacies. The company has raised over $ 90 million in capital, most of which has come from investors in the Philadelphia area.

As David Clapper, Chief Financial Officer of Ethos Cannabis explains, “The company is now focused on operational execution – opening our pharmacies, growing our sales, increasing our EBITDA, and then considering additional strategic acquisitions, if available, or even additional licenses. “

Fine fettle pharmacies

Fine Fettle Dispensary Holdings LLC has expanded into Massachusetts and Connecticut in recent years, successfully gaining one of only six licenses to grow, manufacture, and sell low-THC cannabis in Georgia when it was first granted in July 2021 .

In particular, Fine Fettle Dispensary Holdings has three facilities in Massachusetts with retail, pharmacy, cultivation and manufacturing licenses. In Connecticut, the company has two facilities and two pharmacy licenses. Fine Fettle Dispensary Holdings has a cultivation and cultivation license in Rhode Island and a cultivation and manufacturing facility in Georgia.

You can see the breakdown by state and activity in the Cannabiz Intelligence Base table below.

In 2021, the company significantly expanded its Massachusetts presence with the acquisition of Patient Centric pharmacies in Martha’s Vineyard and West Tisbury. At the same time, Fine Fettle Dispensary Holdings is actively seeking permits from local communities to relocate its existing Connecticut medical dispensaries to hybrid locations that can sell both medical cannabis and adult cannabis if the state grants licenses for adult use (provided that Company can win these licenses).

Terrabis

Terrabis is a growing cannabis company with a total of 11 active and pending licensing and retailer licenses in three states. Specifically, the company has five active and one pending pharmacy licenses in Missouri, five approved and pending pharmacy licenses in West Virginia, and one approved and pending retailer license in Illinois.

You can see the breakdown of Terrabis’s licenses (both active and pending) in Cannabiz Media’s Cannabiz Intelligence Base table below.

Terrabis opened its first pharmacy in Missouri in May 2021 and expanded very quickly to open three more pharmacies in the state, with a fourth on the way. The company also plans to open a manufacturing facility in Kansas City, Missouri, where it will begin processing products by the end of 2021.

Key cannabis company insights under the radar

The cannabis industry is full of growth opportunities, and these four companies are some of the ones to watch out for. Each company has a slightly different strategy for scaling its operations, but with a common goal – to grow and gain a competitive advantage in the markets in which it operates.

All of that growth requires capital that offers opportunities for investments, mergers, acquisitions, and more.

You can keep track of cannabis license holders, identify key contacts, increase your sales, and more with the Cannabiz media license database. Subscribe for comprehensive financial research data, M&A targeting, and ratings Cannabiz Intelligence ™ – the business intelligence base for the cannabis and hemp industry. Schedule a demo to see it in action.