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.
Colorado-based cannabis research firm has inked a licensing agreement with Canada’s Fire & Flower Holdings, which owns and operates dozens of cannabis retail stores. The partnership will allow clients of both companies to access data from their respective territories.
Canabix is a line of CBD-infused “wellness water” made by Pennsylvania-based Hemp Synergistics. Available in three flavors – Lemon Cucumber, Dragon Fruit, and Peach Tea – the Canabix formulation includes a blend of water (or brewed tea in the peach flavor), erythritol, sugar, probiotics, nano-emulsified hemp oil and natural flavors.
GKUA, the cannabis brand co-founded by rapper Lil Wayne, has partnered with The Last Prisoner Project, a nonprofit organization dedicated to cannabis-related criminal justice reform. GKUA said it would donate $1 to the Last Prisoner Project for every Instagram user who shares a photo of themselves enjoying cannabis on the social media platform.
Canada’s Canopy Growth Corporation has launched its CBD-infused beverage line, called Quatreau, in the U.S. Available in four flavors — Cucumber + Mint, Passion Fruit + Guava, Ginger + Lime, and Blueberry + Acai — the new drinks have 25 calories, contain 20 milligrams of CBD isolate derived from hemp, and are sugar free.
The latest cannabis industry jobs report from Leafly has arrived. According to the online cannabis information resource and e-commerce platform, which once again partnered with consulting firm Whitney Economics to produce its 2021 report, the U.S. marijuana industry added 77,300 jobs in 2020, up 32% versus 2019.