 I'm Deborah Borchart, and this is your Marijuana Money Minute. I'm reporting from the 2019 MJ Biz Conference. This year, there are over 1,300 exhibitors and 36,000 attendees. This week, Teresend announced its intention to do a private placement offering. The company plans to offer approximately 10.77 million units of the company shares at a price of $2.45 cents in Canadian, which will generate gross proceeds of $20 million. The company is going to use that to speed up the completion of its New Jersey cultivation and processing facility, and to make a purchase price payment for its acquisition of Alara Healthcare. MedMen executed a term sheet for a non-brokered offering of subordinate voting shares for about $27 million at a price of $0.43 a share. Basically, Andrew Modlin is granting a limited proxy to Ben Rose, the executive chairman of the board, his class A super voting shares for a period of one year. The company also agreed to additional cost reductions, and they're amending the maturity date for a term loan a little bit further out. The company is also forecasting 2020 revenue in the range of $225 million to $245 million, and a 2021 range of revenue from $450 to $500 million. Can it be grossed name David Klein as the company's CEO effective January 14? The company said that Klein has served in a number of senior leadership positions over the past 14 years at Constellation Brands. Presco Labs completed its first harvest from its expanded cultivation facility in Lincoln, Illinois. The state will begin sales of legal adult use cannabis on January 1, and that is predicted to be a $2 to $4 billion market once it has matured. It's expected to be one of the largest cannabis markets in the country. The company also announced this week that it's going to shore up its balance sheet by selling off one of those properties in Illinois in Lincoln, Illinois to the Green Acres real estate company, and then they'll do a lease back. They sold it for $50 million. RecShares has launched the MJO. That is the first leverage exchange traded product in the US linked to the cannabis industry. MJO is an exchange traded note, and it is linked to the MSMJ, the index micro sectors North American Cannabis Index, it seeks to leverage two times the exposure to the index. And finally, Holistic Industries said it will make a $20 million investment in Madison Heights for its Michigan headquarters. And that's it for this week. I'm Deborah Borcher reporting from Las Vegas, Nevada at the MJBiz 2019 conference.