Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. CANADIAN NATIONAL STOCK EXCHANGE
  5. Goodness Growth Holdings, Inc.
  6. News
  7. Summary
    GDNS   CA38238W1032

GOODNESS GROWTH HOLDINGS, INC.

(GDNS)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

GOODNESS GROWTH HOLDINGS, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

09/29/2021 | 04:27pm EST

Item 1.01 Entry into a Material Definitive Agreement

On September 1, 2021, a wholly-owned subsidiary of Goodness Growth Holdings, Inc. (the "Company") entered into a Purchase and Sale Agreement with IIP-NY 2 LLC ("IIP") pursuant to which the parties agreed that the Company would exercise its previously announced option to purchase 92.3 acres (the "Property") adjacent to its existing cannabis cultivation facility in Johnstown, New York and simultaneously enter into a sale-leaseback transaction for the Property (the "Sale-Leaseback") with IIP. On September 24, 2021 (the "Closing Date"), the parties closed the Sale-Leaseback. The purchase price for the Property was approximately $1.2 million, excluding transaction costs. In connection with the Sale-Leaseback, on the Closing Date the Company and IIP entered into an amendment of their existing lease agreement (the "Lease Amendment") for the Johnstown cultivation property to add the Property. Under the Lease Amendment, IIP agreed to provide tenant improvement reimbursement to the Company of approximately $55 million for the construction of a new 324,000 square foot cannabis cultivation, processing, and research and development facility on the Property, approximately $9 million of which was reimbursed on the Closing Date.

The initial annualized base rent for the Property is 10.5% of the tenant improvement budget plus the purchase price, for a term of twenty years. The Lease Amendment contains a rent escalation clause that is triggered in 18 months if the Company does not satisfy certain strategic benchmarks as specified in the Lease Amendment, which would increase the annualized base rent by 1.5% of the tenant improvement budget plus the purchase price. Base rent will be phased in incrementally over the course of a 16-month period, and will be subject to annual increases of 2.75%.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

The information set forth under Item 1.01 is incorporated herein by reference in this Item 2.03.

Item 7.01. Regulation FD Disclosure

On September 28, 2021, the Company issued a press release announcing the completion of the Sale-Leaseback, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit No. Description

99.1 Press Release of the Company, dated September 28, 2021 104 Cover Page Interactive Data File (embedded within the Inline XBRL

            document)

© Edgar Online, source Glimpses

All news about GOODNESS GROWTH HOLDINGS, INC.
11/10GOODNESS GROWTH HOLDINGS, INC. Management's Discussion and Analysis of Financial Condi..
AQ
11/10Goodness Growth Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine ..
CI
11/10Goodness Growth Holdings, Inc. Provides Earnings Guidance for the Fiscal Year 2022
CI
11/05GOODNESS GROWTH HOLDINGS, INC. : Entry into a Material Definitive Agreement, Regulation FD..
AQ
10/15Goodness Growth Holdings, Inc. Announces the Launch of Kings & QueensTM
CI
09/29GOODNESS GROWTH HOLDINGS, INC. : Entry into a Material Definitive Agreement, Creation of a..
AQ
09/13GOODNESS GROWTH : & Green Goods to Host Minnesota's First Cannabis Expungement Event at Mi..
AQ
08/25Goodness Growth Holdings, Inc. Retail Brand Green Goods« to Offer Medical Cannabis Prog..
CI
08/19Goodness Growth Holdings Opens Two Additional Green Goods« Cannabis Dispensaries in New..
CI
08/18GOODNESS GROWTH HOLDINGS, INC. : Change in Directors or Principal Officers, Financial Stat..
AQ
More news
Financials (USD)
Sales 2021 57,0 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 176 M 175 M -
Capi. / Sales 2021 3,09x
Capi. / Sales 2022 1,76x
Nbr of Employees 427
Free-Float 56,5%
Chart GOODNESS GROWTH HOLDINGS, INC.
Duration : Period :
Goodness Growth Holdings, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 1,85 CAD
Average target price 3,92 CAD
Spread / Average Target 112%
Managers and Directors
Kyle E. Kingsley Chairman & Chief Executive Officer
John Andrew Heller Chief Financial Officer
Eric Greenbaum Chief Scientific Officer
Stephen Dahmer Chief Medical Officer
Christian Gonzalez Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
GOODNESS GROWTH HOLDINGS, INC.-0.81%173
JOHNSON & JOHNSON1.16%420 557
ROCHE HOLDING AG15.70%334 662
PFIZER, INC.42.35%294 114
NOVO NORDISK A/S67.75%247 392
ELI LILLY AND COMPANY50.93%231 027