- California voters recently approved 12 local ballot measures in the 2022 midterm elections to either expand or create cannabis markets in a dozen municipalities
- These approvals, it is projected, will translate to over 70 new retail licenses and countless other business opportunities for plant-touching and ancillary companies that serve those retailers
- Having positioned itself as one of the first cannabis mortgage bankers in the United States, REZYFi’s management is confident that these approvals, coupled with the growing conversation around marijuana and its growing expansion into additional states, will significantly strengthen its brand recognition and equity
- The company looks to accumulate at least $285 million in retail origination in 2023, coupled with $250 million in wholesale origination for the same period
REZYFi, a growth mortgage origination and specialized financing company, is looking to capitalize on the recently approved cannabis ballot measures to expand retail within California and add to the growth of its market share. The recent approval by California voters of 12 local ballot measures in the 2022 midterm elections is projected to either expand or create retail cannabis markets in a dozen municipalities, mainly within San Diego and Los Angeles counties (https://ibn.fm/mmLgy). REZYFi is comfortable that these approvals will aid in growing its customer numbers and revenues.
REZYFi, through its two wholly owned subsidiaries- REZYFi Lending and ResMac Inc., has continued to carve out market share in the U.S. market, with operations growing for over 13 years. The company has closed over 20,000 loans for over 15,000 clients and now looks to accumulate at least $285 million in retail origination in 2023. It also aims to accumulate $250 million in wholesale origination for the same period.
The California cannabis ballot approvals is projected to translate to over 70 new retail licenses and countless other business opportunities for plant-touching and ancillary companies that serve those retailers. It is expected that by 2025, California will command a 20% share of the legal cannabis market, the largest in the United States (https://ibn.fm/xLsPm). This will be mainly influenced by the state’s progressive approach towards the sector and the supportive legislative framework that has aided its growth so far. Given that REZYFi targets owners of real estate who lease to cannabis companies and homeowners seeking a variety of real estate-related and additional mortgage-based financing and project-specific financings, the move by California voters offers a key growth opportunity for the company.
In a report issued by The National Association of Realtors, published in April 2021, it was noted that where prescription and recreational cannabis use was legal, over a third of surveyed agents reported a notable increase in demand for warehouses. In addition, 23% of those surveyed noted an increase in the demand for storefronts, with 28% observing an increased demand for land (https://ibn.fm/poGqv). With previous state legalizations of recreational marijuana reflecting an increased opportunity for REZYFi’s cannabis-focused initiatives, the company is optimistic that the recent developments in California will further contribute to the company’s growth in the coming months.
REZYFi is currently licensed in 34 states in the U.S. with plans to expand to the remaining states in the future. With more states pushing for the legalization of recreational marijuana, the company hopes its customer base will continue to grow, as will its revenue. REZYFi is aggressively pushing the marijuana conversation forward as it works to lay the foundation for those interested in venturing into this space.
The company is optimistic that, as the conversation around marijuana legalization continues to evolve, the reception for its products and services will continue to build. In addition, having positioned itself as one of the first cannabis mortgage bankers in the United States, its management is confident that its expansion into remaining states will significantly strengthen its brand recognition and bolster its brand equity.
For more information, visit the company’s website at www.REZYFi.com.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://ibn.fm/REZY
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