Hartford Business Journal

4 HARTFORDBUSINESS.COM | JUNE 16, 2025 BIZ BRIE FS Are your clients concerned about their legacy? dime-bank.com • 860.859.4300 • Wealth Management, Comprehensive Trust, and Estate Services. Done Locally. Trust in Dime. Colchester | East Lyme | Glastonbury | Ledyard | Manchester | Montville New London | Norwich: Broadway, Corporate, Norwichtown Stonington Borough | Taftville | Vernon | Westerly, RI Not FDIC Insured I No Bank Guarantee I May Lose Value Not a Deposit I Not Insured by any Federal Government Agency New cannabis cultivation facility launches in Hartford The Goods THC, a minority woman- owned and family-led cannabis culti- vation company, said it has completed developing its facility in Hartford. The 32,000-square-foot micro-cultiva- tion facility is located at 275-287 Home- stead Ave., in the city's Upper Albany neighborhood, and expects to launch its first product in late-July or early August. The facility features 10,000 square feet of space to grow plants spread across seven climate-controlled flowering rooms — the maximum canopy permitted under the state's micro-cultivation license. The Goods THC, which is led by Hart- ford native Gloribel Diaz, is one of the first social equity applicants licensed by the Connecticut Social Equity Council. The company holds exclusive culti- vation rights in Connecticut for two nationally recognized brands: "Cookies" and Mike Tyson's Tyson 2.0. It also is negotiating with two addi - tional nationally recognized brands, it said. With hedge fund backing, CT cannabis company acquires three in-state dispensaries A West Hartford-based cannabis company is expanding by acquiring a larger marijuana retailer's three Connecticut locations. Budr Cannabis, which has five stores in Danbury, Stratford, Tolland, West Hartford, and Yonkers, New York, has bought The Botanist's dispensaries in Danbury, Montville and Vernon. Terms of the deal weren't disclosed. Poseidon Investment Management, a San Francisco-based hedge fund focused on the cannabis industry, said it's backing Budr's expansion. The Botanist has 11 other dispensaries in Massachusetts, New Jersey, New York and Ohio, according to its website. Carl Tirella Jr. and Derrick Gibbs co-founded Budr as an equity venture partnership with a team of social equity entrepreneurs and Chicago-based Green Thumb Industries. UConn AD: School to invest $18M a year in athletes, fundraise to reach $20.5M In the wake of a federal judge approving a settlement with the NCAA, UConn intends to share at least $18 million in revenue annually with its student-athletes, a school official said. In a letter posted on UConnHuskies. com and addressed to "UConn Nation," Director of Athletics David Bene- dict said the settlement agreement approved on June 6 in the House vs. NCAA lawsuit "will reshape college athletics through the introduction of revenue sharing with student-athletes starting on July 1." The approved settlement, he said, "permits athletic departments to share up to $20.5 million annually with their student-athletes." He said this year UConn intends to share $18 million, "with the near-term goal of being fully funded." He added that fully funding the allowed $20.5 million limit will happen "only with the support of our loyal fans." That will require raising money to cover the additional $2.5 million. Santiago steps down as CEO of West Hartford-based IT firm Well-known IT and cybersecurity executive Ari Santiago has stepped down as CEO of Connecticut-based CompassMSP LLC. Santiago has stepped back from his chief exec- utive role, but remains a significant investor and serves as a strategic adviser for the company. Compass has appointed industry veteran Michael Rapp to succeed Santiago, according to an announcement. The change comes after CompassMSP in December was acquired by a Missou- ri-based private equity firm, Agellus Capital. Agellus acquired Compass and combined it with another Seattle-based IT firm, BlackPoint IT Services, which it acquired earlier in 2024. Santiago was the CEO and founder of West Hartford-based IT Direct, before the company was acquired by Florida-based CompassMSP in 2021. As part of that deal, Compass chose to make Santiago its CEO and call West Hartford its new headquarters. CONTRIBUTED PHOTO The Goods THC, led by Gloribel Diaz, has opened its cannabis cultivation facility in Hartford. Ari Santiago

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