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Editorial illustration showing cannabis retail evolving from distressed storefronts to modern dispensaries, representing changing investor expectations and the maturation of cannabis capital.

Cannabis Capital Has Changed. Operators Need to Catch Up.

Cannabis investors and lenders have not disappeared, but their expectations have changed. Operators seeking capital now must demonstrate clean financials, positive cash flow, disciplined management, and a business model that works under current market and regulatory conditions — not one dependent on eventual federal reform.

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