What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2022-03-16 compared with 2021-03-23 · 54 added, 42 removed, 8 unchanged (92% of the section changed)

Company currently owns and leases the following properties throughout the United States.

Company owns a 45,070 square foot facility on 2.25 acres within a fenced-in business park which it purchased in September 2016

and developed into a cannabis cultivation, processing, and dispensary facility.

The property is secured under a mortgage with

the Bank of New England that matures in 2031.

The facility is leased to the Company’s cannabis licensee client under a 20-year

triple net lease expiring in 2035.

Company leases 4,000 square feet of retail space in a newly-built multi-use building.

This five-year lease with a five-year option

to extend the term commenced in October 2016.

The Company built out the space into a cannabis dispensary which is sub-leased to

the same licensed cannabis company occupying the Wilmington facility, under a five-year triple net lease with a five-year option

March 2019, the Company entered into a lease of a 100,000 square foot warehouse which the Company is developing into a cultivation

and processing facility.

The lease term is 10 years, with an option to extend the term for three additional five-year periods.

Construction estimated to be completed by August 2021.

Company owns a 3,400 square foot free-standing cannabis dispensary that is secured under a mortgage with DuQuoin State Bank maturing

in 2020, provided it is not annually renewed by the bank, which the bank has done every year of this mortgage (the “DSQ

Company owns a 3,400 free-standing cannabis dispensary, also secured under the DSQ Mortgage.

late 2020, the Company agreed to purchase a 14,000 square foot free-standing retail building and is currently seeking

a mortgage to close the transaction.

The Company intends to develop the property into a cannabis dispensary.

The Company owns a 45,070 square foot facility on

2.25 acres within a fenced-in business park which it purchased in September 2016 and developed into a cannabis cultivation, processing,

and dispensary facility.

The property is secured under a mortgage with the Bank of New England that matures in 2031.

The facility is

leased to the Company’s Delaware cannabis-licensed client under a 20-year lease expiring in 2035.

The Company leases 4,000 square feet of retail

space in a multi-use building.

This lease commenced in October 2016 and in 2021 the term was extended through April 2027.

built out the space into a cannabis dispensary which is subleased under a coterminous sublease to its Delaware cannabis-licensed client.

The Company leases a 100,000 square foot

warehouse which it developed into a 60,000 square foot cultivation facility, with plans to develop the remaining square

footage into a processing facility.

The lease term expires in March 2030, with an option to extend the term for three additional

five-year periods.

Construction of the processing facility was completed in February 2022.

The entire premises is subleased under

a coterminous sublease to the Company’s Delaware cannabis-licensed client.

Company owns and operates a 3,400 square foot free-standing cannabis dispensary that is secured under a mortgage with DuQuoin

State Bank maturing in 2020, provided it is not annually renewed by the bank, which the bank has done every year of this mortgage (the

“DSQ Mortgage”).

Company owns and operates a 3,400 free-standing cannabis dispensary, also secured under the DSQ Mortgage.

Vernon, Illinois

Company owns a 4,800 square foot free-standing cannabis dispensary that is secured under a mortgage with South Porte Bank that

matures on March 31, 2021.

Company owns a 180,000 square foot manufacturing facility that it has developed into cannabis cultivation and production facility.

The property secures a $3 million promissory note to an accredited investor which was paid down in March 2021.

This facility is

leased to the company’s cannabis licensed client under a 20 year triple net lease expiring in 2038.

October 2019, the Company purchased a free-standing 9,000 square foot industrial building which it is developing into a

medical marijuana dispensary.

The Company owns and operates a 4,800 square foot

free-standing cannabis dispensary that is secured under a mortgage with South Porte Bank that matures in June 2022.

late 2020, the Company entered into a lease agreement for a 14,000 square foot free-standing retail building.

developed the premises into a state-approved adult-use cannabis dispensary in early 2021, and selling operations

commenced in May 2021.

The premises were purchased by the Company in July 2021, secured under a second mortgage with DuQuoin State

Bank that matures in July 2041.

Company owns a 180,000 square foot manufacturing facility that it developed into cannabis cultivation and production facility.

property secures a $3 million promissory note which was paid down in March 2021.

This facility is leased to the company’s

cannabis licensed client under a 20-year triple net lease expiring in 2038.

The Company owns a free-standing

9,000 square foot industrial building which it is developing into a medical cannabis dispensary that is expected to open in

County, Nevada

Company leases approximately 10,000 square feet of an industrial building that was built into a cannabis cultivation facility.

This facility is subleased to the Company’s licensed cannabis client under a sub-lease which is coterminous with the Company’s

lease for 10 years expiring in 2024.

This facility

is subleased to the Company’s licensed cannabis client under a sub-lease which is coterminous with the Company’s lease for

10 years expiring in 2024.

Bedford, Massachusetts

Company owns 138,000 square foot industrial property located on 21.95 acres within the New Bedford Industrial Park.

secures a mortgage with the Bank of New England that matures in 2027.

Approximately half of the available square footage is leased

to a non-cannabis manufacturing company under a five-year lease.

The Company developed the other half of the building into a cannabis

cultivation and processing facility which was approved for operations in January 2020.

The Company owns 138,000 square foot industrial

property located on 21.95 acres within the New Bedford Industrial Park.

The property secures a mortgage with the Bank of New England

that matures in 2027.

The Company developed approximately half of the property into a cannabis cultivation and processing facility in

which it conducts wholesale operations.

The remaining portion of the property is leased to a non-cannabis manufacturing company who will

be vacating the premises in 2022.

Thereafter, the Company intends to expand its cannabis wholesale operations throughout the entire property.

Middleborough,

Massachusetts

Company owns a 22,700 square foot retail and warehouse building located on the main street of this municipality.

10,000 square

feet of the building has been developed into a retail dispensary, with the remaining square footage used as a warehouse.

Company owns and operates a 22,700 square foot retail and warehouse building located in a high-traffic area of this

municipality.

10,000 square feet of the building has been developed into a retail dispensary, with the remaining square footage used

as a warehouse.

Massachusetts

Company’s corporate offices are located in Norwood, Massachusetts.

This 10,000 square foot space is under a 10-year lease

with a related party that expires in 2028 and contains a 5-year extension option.

This 10,000 square foot space is under a 10-year lease with

a related party that expires in 2028 and includes a 5-year extension option.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties