13. Leases

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The following table provides the components of lease cost recognized in the consolidated statements of operations and comprehensive loss:

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The following table provides the weighted average discount rates and weighted average remaining lease terms for the Company’s leases:

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As a result of the Taunton Facility Transactions, in May 2022, the Company derecognized an ROU asset balance of $3,940 and a lease liability balance of $4,454. See Note 12 — Massachusetts Lease Liability for additional information.

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On April 19, 2022, the Company entered into the Purchase and Sale Agreement between its subsidiary, White Haven RE, LLC, and an affiliate of IIP, contemplating the Pennsylvania Transaction in exchange for $15,000 cash. The Company received cash proceeds of $15,000 and recognized an ROU asset of $11,974 and an operating lease liability of $11,880 upon closing the transaction. The effective interest rate on the operating lease liability is 19.33%. The Company recorded a gain on the sale leaseback of $8,401, which is included in gain on sale of assets on the consolidated statements of operations and comprehensive loss. As of December 31, 2023, the balance of the operating lease liability associated with this transaction was $12,113.

In 2023, the Company refocused its Massachusetts retail operations on core assets, reducing the operating capacity of its CAC Cambridge facility, which triggered an impairment analysis for the Cambridge facility assets, including the ROU asset related to its Cambridge finance lease. As a result, the Company recognized an impairment loss of $1,206 to write the ROU asset down to its fair value.

Future minimum lease payments under the Company’s non-cancellable leases as of December 31, 2023 are as follows:

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