Florida Finance Firm and Colorado Cannabis Consultant Assist Oregon Native American Tribe Project
The Confederated Tribes of Warm Springs, which is moving forward with its vertically integrated cannabis project in Oregon that it had previously suggested could yield sales of $26mm, has partnered with a joint venture formed last May by Sentinel Capital Partners LLC, based in Florida, and Strainwise Consulting (OTC: STWC), based in Denver. The Sentinel-Strainwise JV, which was announced last May, will provide both capital and expertise to help the tribe develop the project, which includes a cultivation facility on tribal land and three dispensaries.
The project will employ 85 tribe members that will be trained by Strainwise. Construction of the greenhouse (designed by Nexus Greenhouse Systems) and offices is estimated to cost $4.3mm, while opening three dispensaries will require about $500K in renovations. The JV will lend $3mm to the tribe, which is investing $1.8mm, and provide a $2mm line of credit to support operations as well.