Stinson Attorneys Advise Elevate Cannabis in Securing Multimillion-Dollar Funding for Missouri Market Expansion

05.10.2024

Stinson LLP successfully represented Elevate Cannabis, a multi-location, vertically integrated cannabis business operator, in a transaction involving a strategic partnership with a Chicago-based private market investment firm focused on multi-asset class investing.

The firm negotiated with investors and lenders to secure a $25 million senior secured credit facility for Elevate, which will enable the business to pursue strategic expansion plans within Missouri's rapidly growing cannabis market, which generated nearly $2 billion of revenue in its first year since legalization.

"We're proud to have played a role in securing this momentous funding for Elevate and to help facilitate their growth in the rapidly evolving cannabis landscape," Partner Christopher Frantze said. "This strategic deal allows Elevate to expand their presence through additional retail and cultivation assets and increase their focus on the community and the consumers they serve."

Stinson attorneys involved in this matter include Frantze and Partner Timothy Laycock.