Grown Rogue said its affiliate Grown Rogue Management Associates entered definitive agreements with Sea Craft to operate a cannabis production facility in Dwight, Illinois that is owned by Innovative Industrial Properties. Sea Craft leased a fully constructed cultivation and processing facility totaling 66,000 square feet, including about 10,000 square feet of indoor flowering canopy. Grown Rogue Management Associates is acquiring a 49% interest in Sea Craft for USD 1 million via a seller’s note. Sea Craft’s existing USD 1 million cash balance and a USD 3 million preferred equity investment in Grown Rogue Management Associates are intended to provide about USD 4 million of project capital for the Illinois launch.

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