New York-based cannabis firm Columbia Care has agreed to purchase California’s Project Cannabis in a deal valued at $69 million. In a news release, the multistate operator said it would trade as much as $57 million worth of stock and pay at least $12 million in cash to acquire the Los Angeles-based vertically integrated cannabis company.
At long last, Martha Stewart’s line of CBD products made in partnership with Canada’s Canopy Growth Corporation have arrived. In a news release, Ontario-based Canopy said the new line — which includes gummies, drop, softgels and forthcoming pet products — was “specially formulated by Martha Stewart, in collaboration with the cannabinoid scientists at Canopy Growth.”
It’s been seven months since Canada’s Aurora Cannabis (NYSE: ACB, TSK: ACB) began the search for a permanent chief executive officer. That search officially ended Tuesday when the firm named consumer packages goods veteran Miguel Martin as its next CEO.
Innovative Industrial Properties (IIP) has inked yet another deal. IIP, a publicly traded real estate investment trust (REIT) focusing on the cannabis sector, announced Tuesday the acquisition of a cannabis facility in Michigan.
Maryland-based investment management firm AdvisorShares Investments, LLC launched Tuesday its Pure US Cannabis ETF, an exchange-traded fund that concentrates entirely on U.S. cannabis firms, including plant-touching multistate operators (MSOs). It is listed on the NYSE Arca exchange under the ticker symbol MSOS.
The U.S. House of Representatives is set to make history next month when it finally votes on legalizing cannabis. In an email to members that was obtained by Politico cannabis reporter Natalie Fertig, Majority Whip James Clyburn (D-SC) said the House would consider the Marijuana Opportunity Reinvestment and Expungement (MORE) Act during a September work period.
At long last, cannabis companies in Florida will be allowed to sell THC-infused edibles. Four years after Sunshine State residents overwhelmingly voted in favor of legalizing medical marijuana, the Florida Department of Health has approved the production and sale of cannabis-infused offerings such as baked goods and chocolates, among other items.
Columbia Care’s planned acquisition of Colorado’s The Green Solution (TGS) is set to close on September 1, 2020, the cannabis firm announced Wednesday. In a news release, the New York-based multistate operator said the deal — which includes 23 dispensaries and six production facilities — will make Columbia Care the largest cannabis company in Colorado.
Pennsylvania is staring down a multibillion-dollar budget shortfall as a result of the coronavirus pandemic, and Gov. Tom Wolf wants the state legislature to legalize adult-use marijuana in an effort to help overcome the deficit.
A joint venture backed by Canadian cannabis firm Hexo Corp. and beer maker Molson Coors has announced the launch of several new cannabis-infused beverages across Canada. In a news release, the two companies said five CBD and THC-infused beverage brands have begun rolling out across Canada in hopes of appealing to canna-curious customers that don’t want to inhale.
On the heels of raising more than $68 million in new funding, Massachusetts-based cannabis firm Ascend Wellness Holdings (AWH) today announced plans to purchase two Modern Cannabis (MOCA) dispensaries in Chicago for an undisclosed sum. In a news release, AWH said its agreement to acquire the two stores would expand the company’s Illinois dispensary footprint to six licenses.
Green Thumb Industries is looking to raise as much as $150.6 million through the sale of 10 million subordinate voting shares on the over-the-counter (OTC) market, the cannabis firm revealed Friday. In a filing, the Chicago-based company said it intends to use the proceeds for “general corporate purposes, including working capital, operating expenses and capital expenditures.”