THCnet Staff

THCnet Staff




Posts by THCnet Staff


Red White & Bloom Brands to Buy PharmaCo of Michigan
Red White & Bloom Brands to Buy PharmaCo of Michigan

Less than a week after inking a $35 million agreement to purchase California-based cannabis company Platinum Vape, Toronto’s Red White & Bloom Brands (RWB) announced Monday plans to acquire Michigan’s PharmaCo Inc. In a news release, RWB said it had exercised its right to acquire 100% of PharmaCo via the company’s wholly owned MichiCann Medical Inc. subsidiary.

Innovative Industrial Properties Strikes Deals with Columbia Care and Curaleaf in New Jersey
Innovative Industrial Properties Strikes Deals with Columbia Care and Curaleaf in New Jersey

Innovative Industrial Properties (IIP), a real estate investment trust (REIT) focusing on the cannabis sector, has inked a pair of deals for a combined 165,000 sq. ft. of property in New Jersey.

Vireo Health Names New CFO
Vireo Health Names New CFO

Vireo Health has named John Heller, the outgoing chief financial officer of fitness company Lift Brands, as its new CFO. Heller, who supplants Shaun Nugent as CFO of the multistate cannabis firm, will take over on July 6, 2020, according to an announcement. He's Vireo’s second CFO in the last seven months. 

Illinois Dispensaries Sell a Record $44.3 Million Worth of Marijuana in May
Illinois Dispensaries Sell a Record $44.3 Million Worth of Marijuana in May

Sales of adult-use cannabis in Illinois hit a record high in May as the state’s recreational shops sold $44.3 million worth of legal marijuana products, state officials reported last week. According to the most recent data from the IDFPR, which oversees dispensary licensing and tracks sales, in-state residents purchased more than $34 worth of cannabis last month.

Hightimes Holding Corp. Revises Dispensary Purchase Agreement with Harvest Health & Recreation
Hightimes Holding Corp. Revises Dispensary Purchase Agreement with Harvest Health & Recreation

Hightimes Holding Corp. has amended a previously announced deal with Harvest Health & Recreation that includes the ownership transfer of several California cannabis dispensaries. Under the new agreement, Hightimes will acquire 10 operational and planned marijuana retail locations from the Arizona-based multi-state operator in a deal now valued at $67.5 million.

Aurora Cannabis Shares Soar After Canadian Firm Beats Revenue Expectations
Aurora Cannabis Shares Soar After Canadian Firm Beats Revenue Expectations

Aurora Cannabis Inc. yesterday announced its 2020 fiscal third quarter earnings, reporting higher than expected net revenue of more than C$78 million – an 18% improvement from the previous quarter. Aurora’s adult-use sales grew 24% versus last quarter, to C$41.5 million, driven by the launch of value brand Daily Special and a full three months of cannabis 2.0 sales.

Mark Dowley Resigns from iAnthus Capital Holdings' Board of Directors
Mark Dowley Resigns from iAnthus Capital Holdings' Board of Directors

Mark Dowley has resigned from iAnthus Capital Holdings’ board of directors, the company announced Friday. Dowley, and entrepreneur and marketer, joined the company’s board on December 5, 2019, as an independent director. 

Cresco Labs Reports 2019 Results, Cancels Acquisition of Tryke Companies
Cresco Labs Reports 2019 Results, Cancels Acquisition of Tryke Companies

Chicago-based Cresco Labs (CNSX: CL) grew revenue 197%, to $128.5 million, in 2019, but the record growth wasn’t enough to keep the multistate cannabis operator out of the red. The cannabis firm’s net losses exceeded $65 million in 2019. Cresco also announced it would terminate a planned $282 million purchase of Tryke Companies.

Politicians Use 420 to Push Cannabis Legalization Agendas
Politicians Use 420 to Push Cannabis Legalization Agendas

While many marijuana enthusiasts may have spent yesterday toking up in celebration of the cannabis community’s official-unofficial holiday, several 420-friendly politicians used their platforms to call for legalization and other pro-pot policies.

Charlotte Figi, Namesake of Charlotte’s Web CBD Brand, Dies at 13
Charlotte Figi, Namesake of Charlotte’s Web CBD Brand, Dies at 13

Charlotte Figi, the young Colorado girl whose debilitating condition led to the development of an eponymous cannabidiol (CBD) brand called Charlotte's Web, died on Tuesday at the age of 13. Figi suffered from a rare form of epilepsy called Dravet syndrome and used CBD oil to help treat frequent seizures.

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