Poseidon Completes Two New Jersey Cannabis Dispensary Investments

News provided by

Dec 04, 2024, 12:00 ET

Supports Buildout and Launch of Two New Dispensaries in the Fast-Growing NJ Market

SAN FRANCISCO, Dec. 4, 2024 /PRNewswire/ -- Poseidon Investment Management ("Poseidon" or the "Company"), a leading investment firm in the cannabis industry, today announced the completion of two investments into two New Jersey dispensaries, BLKBRN (pronounced "Blackburn") and Dogwood Green.

Dogwood Green and BLKBRN are led by experienced cannabis professionals and uniquely positioned within New Jersey to reach patients and adult-use consumers when they open in 2025.

"With these two investments, we are allocating to retail in special situations, driving outsized sales with a focus on profitability, increasing the probability of success for founders, and generating faster returns for our investors," said Poseidon Managing Director, Patrick Rea.

"By offering thoughtfully curated cannabis products alongside the resources for education and empowerment, we're building more than just a dispensary—we're building a legacy of inclusivity and opportunity in West Orange," said Whitney Oldham, co-founder of Dogwood Green.

As New Jersey continues to solidify its position as one of the nation's fastest-growing cannabis markets, Poseidon is committed to identifying and securing investment opportunities that empower innovative cannabis businesses.

"Poseidon has proven themselves as a true partner throughout our launch," said Jeff Jacobson, BLKBRN Co-Founder. "In addition to their financial commitment, they bring a wealth of industry knowledge, well-healed connections, and an unrivaled sense of passion to the team. We look forward to working with Poseidon on future projects."

"Jeff is a leading operator in the cannabis industry and his partners bring local expertise and relationships that will help BLKBRN become a tremendous asset in Highland Park," said Poseidon Managing Director Patrick Rea. "Whitney and Danielle have shown how strong founders, with true grit and commitment, can deftly navigate the process of starting up in the cannabis industry and are a model for others who will follow them."

For more information about Poseidon Investment Management, please visit poseidonassetmanagement.com.

About Poseidon

Poseidon is a leading investor in the legal cannabis and hemp industries with over $100 million in assets under management. Poseidon and its affiliates have been active cannabis investors since 2013, deploying capital into nearly 200 businesses across various stages and verticals globally. The company has been actively involved in state and federal initiatives to drive reform in cannabis laws, including a recent judicial challenge to the Raich vs. Gonzalez SCOTUS case in partnership with Boies, Schiller, Flexner LLP. For more information, visit www.poseidon.partners.

About Dogwood Green

Dogwood Green is a purpose-driven licensed dispensary offering best-in-class service and high-quality products to the medical and legal adult-use markets of West Orange, New Jersey. For more information regarding Dogwood Green's operating hours, product selection, or personalized service, please visit www.dogwoodgreen.com.

About BLKBRN

BLKBRN (pronounced "Blackburn") is a licensed retail dispensary in Highland Park, New Jersey, providing affordable, premium cannabis products, wellness education, and individualized support to adult-use consumers. With more than 25 years of experience leading best-in-class dispensaries, the BLKBRN team offers a curated experience that emphasizes the importance of the plant and allows customers to make informed choices on their wellness journey. For more information regarding BLKBRN's operating hours and product selection, please visit www.blkbrndispensary.com.

CONTACT: [email protected]

SOURCE Poseidon