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REZYFi, Inc. Leverages Growth of California’s Cannabis Market as It Expands to Include Social Equity Provisions, More Opportunities for Business Owners

  • California retail stores sold almost $5.3 billion worth of cannabis products in 2021 and reported a total tax revenue of approximately $1.3 billion
  • California’s three licensing authorities issued 12,227 commercial cannabis licenses to businesses throughout the state during 2021
  • San Diego has approved a social-equity program, joining the ranks of other California cities and counties that have implemented them since 2018, utilizing tax revenues from the cannabis industry
  • REZYFi is the first cannabis mortgage company in the United States – a market where most traditional lenders are still reticent to enter

On November 8, 2016, California voters approved cannabis for recreational use. Since then, the market has continued to increase in revenue, and it is expected to make up 61.5% of the overall market, according to the University of California Agricultural Issues Center. In 2021, California retail stores sold almost $5.3 billion of cannabis products, indicating a 20% growth over 2020 and over 20% of legal sales in the United States. The total tax revenue reported by the cannabis industry was about $1,317.6 million in 2021, including approximately $680.4 million in excise tax.

As of December 2021, California’s three licensing authorities issued 12,227 commercial cannabis licenses to businesses throughout the state – including 8,504 cultivators, 915 manufacturers, 842 retailers, 362 delivery services, 1056 distributors, 308 microbusinesses, 152 transporters, 46 event organizers…

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NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://cnw.fm/REZY

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

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