GREY:CHALF - Post by User
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RiskyBiz928on Jul 26, 2021 9:44am
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Stole this from another board, but relevant
Stole this from another board, but relevant Cresco CEO expects better banking services once U.S. legalizes marijuana
Cresco Labs CEO Charlie Bachtell thinks draft legislation, which could legalize cannabis in the U.S., would allow American pot firms to access crucial financial services and to easily obtain much-needed capital. In an interview on BNN Bloomberg, Bachtell said that "Big B"-type of banking services, including access to more capital and debt, would finally be available for companies if cannabis is legalized in the U.S. "'Big B banking' is where you have access to capital, you have access to leverage, where you could get credit facilities that allow you to smooth out cash flow and really create scale in a way that you would think from a traditional industry can," Bachtell said. Legalization would lead to a wave of institutional investor interest into the U.S. cannabis market, Bachtell added. Institutional funds control about 4 per cent of all U.S. cannabis company shares, compared to 15 per cent for Canadian operators.