Magical Brands COO Discusses Recent Capital Raise, Future Growth Opportunities
Magical Brands COO Discusses Recent Capital Raise, Future Growth Opportunities

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.

Canopy Growth to Buy Supreme Cannabis in $346 Million Deal
Canopy Growth to Buy Supreme Cannabis in $346 Million Deal

Canopy Growth Corporation announced Thursday plans to acquire Toronto-based Supreme Cannabis Co. in a cash-and-stock deal valued at nearly $346 million (C$435). Under the terms of the deal, Supreme shareholders will receive 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each Supreme Cannabis share held.

Cannabis Freedom Alliance Brings Koch Brothers, Social Justice Advocates Together to End Federal Marijuana Prohibition
Cannabis Freedom Alliance Brings Koch Brothers, Social Justice Advocates Together to End Federal Marijuana Prohibition

A new advocacy group with ties to billionaire brothers David and Charles Koch has joined the fight to legalize cannabis. Announced Tuesday, the Cannabis Freedom Alliance (CFA) has a stated goal of ending the “prohibition and criminalization of cannabis in the United States.”

Illinois Cannabis Sales Could Reach $1.5 Billion in 2021
Illinois Cannabis Sales Could Reach $1.5 Billion in 2021

Illinois dispensaries are on pace to sell more than $1.5 billion worth of cannabis in 2021 after retailers across the state combined to sell nearly $145 million of adult-use and medical marijuana in March. According to data from the Illinois Department of Financial and Professional Regulation (IDFPR), adult-use cannabis dispensaries sold a record $109.1 million of recreational cannabis last month.

Curaleaf Completes EMMAC Acquisition, Sells Stake in New International Operation
Curaleaf Completes EMMAC Acquisition, Sells Stake in New International Operation

Curaleaf Holdings has completed its acquisition of Europe’s EMMAC Life Sciences and brought on a new minority partner in the process. In a news release, Curaleaf said it raised $130 million from an unnamed strategic institutional investor by selling a 31.5% equity stake in its newly established Curaleaf International Holdings business, which holds the EMMAC investment.

Trulieve Inks $60 Million Deal for Pennsylvania’s Keystone Shops
Trulieve Inks $60 Million Deal for Pennsylvania’s Keystone Shops

Florida-based Trulieve Cannabis Corp. announced Monday plans to purchase Pennsylvania dispensary chain Keystone Shops in a deal valued at $60 million. According to a news release, Trulieve will spend $20 million in cash and $40 million in subordinate voting shares to acquire three Keystone Shops from parent company Anna Holdings.

Greenlane and KushCo to Merge
Greenlane and KushCo to Merge

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.

M&A Frenzy: Parallel, Verano, and Ayr Wellness Strike Deals
M&A Frenzy: Parallel, Verano, and Ayr Wellness Strike Deals

It was a busy week of dealmaking, as several top cannabis firms announced major deals in notable markets like Chicago, Pennsylvania and New Jersey.

New Mexico Set to Legalize Adult-Use Cannabis
New Mexico Set to Legalize Adult-Use Cannabis

Hours after New York Gov. Andrew Cuomo signed an adult-use cannabis bill into law, lawmakers in New Mexico passed a bill that will legalize, regulate and tax marijuana for adults 21 and over. A separate bill which expunges arrest and conviction records for certain cannabis offenses also passed the New Mexico House and Senate on Wednesday. Both are headed to Gov. Michelle Lujan Grisham’s desk.

Green Thumb CEO Calls Chicago Tribune Story ‘Irresponsible Journalism,’ Demands Retraction
Green Thumb CEO Calls Chicago Tribune Story ‘Irresponsible Journalism,’ Demands Retraction

Does Green Thumb Industries (GTI) also grease palms in order to secure its highly coveted marijuana licenses? Not according to Ben Kovler, founder and CEO of the Chicago-headquartered company, which reported $556 million in revenue last year and ranks as the second largest cannabis firm in the U.S.

New York Gov. Andrew Cuomo Signs Adult-Use Cannabis Bill Into Law
New York Gov. Andrew Cuomo Signs Adult-Use Cannabis Bill Into Law

Start passing the joints. New York legalized cannabis today. Hours after the New York state legislature approved an amended version of the Marijuana Regulation and Taxation Act (MRTA), Gov. Andrew Cuomo signed the bill into law, paving the way for adult-use sales to begin sometime in 2022.

Chicago Tribune, Citing Unnamed Sources, Says Green Thumb is Under Federal Investigation
Chicago Tribune, Citing Unnamed Sources, Says Green Thumb is Under Federal Investigation

One of the country’s largest cannabis firms could be facing a federal investigation for engaging in so-called “pay-to-play” lobbying tactics, according to a stunning — albeit shaky — report from the Chicago Tribune.

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