Multistate cannabis operator Ayr Wellness has entered into agreements to acquire two dispensaries in Illinois, as well as two cannabis companies in Nevada. Announced this week, the deals are valued at $30 million and $17 million, respectively.
Massachusetts-based Levia makes a line of cannabis-infused seltzers that contain 5 milligrams of THC and are available in three flavors — Raspberry Lime, Lemon Lime and Jam Berry. Packaged in 12 oz. slim cans, all three SKUs contain zero sugar and zero calories, and are positioned around different need states.
U.S. Senate Majority Leader Chuck Schumer (D-NY) finally unveiled his much anticipated plan to legalize cannabis at the federal level. Called the Cannabis Administration and Opportunity Act (CAOA), the proposal was co-authored by Sens. Ron Wyden (D-OR) and Cory Booker (D-NJ). A 163-page draft of the bill was released on Wednesday.
Cannabis real estate company New Lake Capital has struck a $20.5 million sale-leaseback agreement with Arizona-based multistate operator The Mint. Under the terms of the deal, NewLake has agreed to purchase land in Phoenix for $2.4 million and provide $18.1 million for the construction of a 130,757 sq. ft. cultivation and processing facility.
Florida’s Trulieve Cannabis has agreed to purchase Arizona-based Harvest Health & Recreation in an all-stock transaction worth approximately $2.1 billion. Under the terms of the deal, which Trulieve has called the largest in the U.S., Harvest shareholders will receive 0.1170 of a subordinate voting share of Trulieve for each Harvest subordinate voting share.
LifeAID is a functional beverage company that makes a range of drinks for fitness enthusiasts and those living an active lifestyle. The company’s “Hemp” SKU, first released in 2019, contains 20 milligrams of broad-spectrum hemp as well as rosemary and lemon balm adaptogens.
Earlier this year, extraction device manufacturer Magical Brands closed a multimillion-dollar revenue-based financing deal with Decathlon Capital. THCnet recently caught up with Magical Brands chief operating officer Craig Snyder to discuss the recent fundraising round, and the company’s plans for growth.
Greenlane Holdings and KushCo, two of the largest suppliers of cannabis accessories in the U.S., have agreed to merge in an all-stock transaction. Under the terms of the deal, announced on March 31, KushCo will become a wholly-owned subsidiary of Greenlane.
GrowGeneration (Nasdaq: GRWG) continued its acquisition streak Monday, announcing plans to purchase growing medium company Char Coir. Specific financial terms of the deal were not announced, but the Denver-based hydroponics retailer said Char Coir’s line of 100% biodegradable coconut coir will add $15 million to the company’s top line.