The Vertically Integrated Operator Stands to Double Its Nevada Dispensaries in 2025
CHICAGO--(BUSINESS WIRE)--Chicago Atlantic Admin, LLC ("Chicago Atlantic") announced that it acted as administrative agent on the funding of a $30 million senior secured credit facility for Deep Roots Holdings ("Deep Roots Harvest"), a vertically integrated operator in Nevada with five open dispensaries, one dispensary planned to open in December 2024 and a standalone cultivation and processing facility.
The capital provided by Chicago Atlantic, on behalf of its affiliated investment funds, will support Deep Roots Harvest's expansion as it takes on additional retail and cultivation assets across Nevada. In October 2024, Deep Roots Harvest acquired most of the assets of Nevada cannabis operator, The Source Holdings, LLC ("The Source"), including four retail operations, two provisional retail licenses and one operating facility for cultivation.
The successful move positions Deep Roots to operate 12 total dispensaries and establishes them as the market share leader in Nevada.
"Deep Roots is a company to watch in 2025, and it's our pleasure to take a front row seat and support their growing investment portfolio," said David Kite, Managing Partner at Chicago Atlantic. "Their team has shown operational expertise at every level, exceptional business acumen and a strong balance sheet – We couldn't be more excited to partner with them."
Keith Capurro, CEO of Deep Roots Harvest, said the company will continue its strategic growth in 2025 and beyond.
"Chicago Atlantic has quickly proven themselves as a valuable partner as we continue to invest across our portfolio of businesses," said Capurro. "With a larger balance sheet and meaningful additional borrowing capacity, we are well positioned to execute on our broader strategy."
About Chicago Atlantic
Chicago Atlantic is a private markets alternative investment manager focused on industries and companies where demand for capital exceeds traditional supply. The firm's investment strategies include opportunistic private credit and equity with focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth and technology finance. Chicago Atlantic has closed over $2.2 billion in credit facilities since inception. Chicago Atlantic's team of over 80 professionals has offices in Miami, Florida and Chicago, Illinois. For more information on Chicago Atlantic's investment opportunities and financing products, visit chicagoatlantic.com.
About Deep Roots Harvest
Founded in 2014, Deep Roots is a vertically integrated operator with multiple dispensaries and essential facilities across Nevada. The company produces Nevada grown cannabis for medical and adult use. Its Farm To Body cannabis program pledges to grow and cultivate the cleanest cannabis in the state, prioritizing customer health, safety and personalized experience. For more information, visit deeprootsharvest.com.
Contacts
Alise M. Edgcomb
Managing Director, Public Relations
(419) 202 – 3988
aedgcomb@chicagoatlantic.com
