Feuerstein Kulick Advises Glass House Brands Inc. ("Glass House" or the "Company") (NEO: GLAS.A.U) (NEO: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF), one of the fastest- growing, vertically-integrated cannabis companies in the U.S., on a senior secured term loan agreement (the "Loan Agreement") with a U.S.-based private credit investment fund (the "Lender") for up to US$100 million (the "Loan"), with an initial draw of US$50 million (the "Initial Term Loan"). The Initial Term Loan has a variable interest rate currently set at 10% per annum, and in no event shall be more than 12% per annum. The gross proceeds of the Loan will be used to fund the phased retrofit of the Company's approximately 5.5 million square feet cultivation facility currently under renovation in Camarillo, California and for general corporate purposes.

The Initial Term Loan shall be repayable in monthly installments beginning on December 1, 2023, at an aggregate amount equal to 1.25% of the original principal amount of the Initial Term Loan. Two subsequent draws of US$25 million (the "Delayed Draw Term Loans") each will be available at future dates provided certain terms and conditions under the Loan Agreement have been met and shall be repayable in monthly installments beginning on December 1, 2023, at an aggregate amount equal to 1.25% of the original principal amount of the Delayed Draw Term Loans. The conditions of the Loan Agreement include the creation and issuance of 2,000,000 new Company warrants that will be freely tradable in Canada under the same CUSIP/ISIN as the Company's existing publicly traded warrants (NEO: GLAS.WT.U; OTCQX: GHBWF), and delivered to the Lender at closing, with each warrant exercisable at an exercise price of US$11.50 to acquire one subordinate voting share, restricted voting share or limited voting share, as applicable (NEO: GLAS.A.U) until June 26, 2026, subject to acceleration or redemption as set forth under the terms of the warrant agency agreement governing the warrants.

Samantha Gleit, Jason Cohen, and Dan Rich of Feuerstein Kulick LLP served as debt counsel to Glass House on the transaction. Feuerstein Kulick LLP is a boutique law firm that represents clients in all aspects of the legal cannabis space, including investors, funds, leading technology and ancillary companies, brands, license holders, and operators.

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