Cannabis e-commerce platform Jane Technologies has pulled in $100 million in Series C funding. Announced last week, the round was led by Honor Ventures with participation from Third Point Ventures, Gotham Green Partners, L2 Ventures, Delta Emerald Ventures and Artemis Growth Partners.
North American cannabis firm TerrAscend said Monday it would acquire Michigan’s Gage Cannabis Co. in an all-stock deal worth $545 million. Under the terms of the transaction, Gage shareholders will receive roughly one-third (0.3001) of a common share of TerrAscend for each equivalent Gage share held.
California-based online cannabis marketplace and delivery platform Eaze will acquire Green Dragon, a vertically integrated multistate operator (MSO) operating in Colorado and Florida. Terms of the deal were not disclosed.
California-based cannabis firm The Parent Company (TPCO), which owns Caliva and Left Coast Ventures, has named former Clorox Company executive Troy Datcher as its new CEO. Datcher is said to be the first Black CEO to lead a major publicly traded U.S. cannabis firm.
Leafly, a Seattle-based cannabis marketplace and content platform, confirmed Monday plans to go public on the Nasdaq in a SPAC deal with Merida Merger Corp. I worth $532 million. Under the proposed transaction — which is expected to provide Leafly with $161.5 million to expand — existing Leafly shareholders will own 72% of the combined company upon closing.
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.
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.
New York-based cannabis firm Acreage Holdings is teaming up with Medterra, one of the largest CBD companies in the U.S., to develop a line of full-spectrum CBD products.
Fresh off securing $217 million in debt financing, Chicago-based Green Thumb Industries announced Monday plans to enter the Virginia cannabis market via the acquisition of Dharma Pharmaceuticals. Specific financial details were not disclosed, however the deal is expected to close in the second half of 2021.
North American cannabis firm TerrAscend will double its dispensary footprint in Pennsylvania via the acquisition of KCR Holdings. The $63 million cash-and-stock transaction includes $36 million in stock, $20.25 million in cash and a $6.75 million note. It is expected to close in the second quarter of 2021.
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