Chicago Atlantic Admin 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.”