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.
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.
On Wednesday, Democratic Governor Ralph Northam ceremonially signed legislation that legalizes adult-use cannabis in Virginia. The event came two weeks after the Virginia General Assembly passed a revised bill that included several amendments, including one making cannabis possession legal on July 1, 2021 instead of January 1, 2024.
One month after launching its CBD-infused beverage line Quatreau in the U.S., Canadian cannabis firm Canopy Growth Corporation announced that alcohol wholesaler Southern Glazer’s Wine & Spirits (SGWS) would distribute its CBD drinks throughout the U.S.
A new study conducted by market research firm YouGov found that one in four Americans over the age of 21 used cannabis over the last 12 months. Commissioned by Illinois-based cannabis company Cresco Labs, the study asked 5,000 Americans about their cannabis use and purchasing behaviors. 25% of respondents said they had tried cannabis in the past year.
One day after announcing plans to spend at least $100 million to acquire Nature’s Remedy in Massachusetts, Florida-based Jushi Holdings said it had signed a definitive agreement to purchase one of 34 licensed cannabis cultivators in Ohio. In a news release, Jushi said it would buy OhiGrow, LLC, which operates a 10,000 sq. ft. facility on 1.35 acres of land in Toledo.