AdvisorShares' US Cannabis ETF Has Surpassed $1 Billion in Assets Under Management
AdvisorShares' US Cannabis ETF Has Surpassed $1 Billion in Assets Under Management

Less than six months after launching on the NYSE Arca exchange, AdvisorShares’ Pure US Cannabis ETF has surpassed $1 billion in assets under management (AUM).

Acreage Holdings Names New CFO
Acreage Holdings Names New CFO

Acreage Holdings is adding another executive from Bespoke Capital. The New York-based cannabis firm announced Tuesday that Steve Goertz, a Canadian business executive who most recently served as partner and chief financial officer of the Bespoke SPAC, would supplant current Acreage CFO Glen Leibowitz.

Parallel to Go Public via SPAC in $1.8 Billion Deal
Parallel to Go Public via SPAC in $1.8 Billion Deal

Florida-headquartered cannabis firm Parallel will go public on Canada’s NEO Exchange in a SPAC deal valuing the firm at more than $1.8 billion.The multistate cannabis operator — led by William “Beau” Wrigley, the billionaire heir to the iconic namesake chewing gum enterprise — will merge with Ceres Acquisition Corp., a blank check company backed by music industry entrepreneur Scooter Braun.

Michigan Cannabis Sales Neared $1 Billion in 2020
Michigan Cannabis Sales Neared $1 Billion in 2020

Cannabis sales in Michigan approached $1 billion in 2020, state records show. According to data from the Michigan Marijuana Regulatory Agency (MRA), combined sales of medical marijuana and adult-use cannabis reached $984.7 million.

Former NBA Star Chris Webber Launches $100 Million Cannabis Fund with JW Asset Management
Former NBA Star Chris Webber Launches $100 Million Cannabis Fund with JW Asset Management

Former NBA All-Star Chris Webber has teamed up cannabis investor Jason Wild, who runs the New York based investment firm JW Asset Management, to launch a $100 million private equity fund for minority cannabis business owners. The fund will “level the playing field” for BIPOC entrepreneurs who want to break into the booming cannabis industry but lack the access to funding and resources.

Leafly Report: US Cannabis Industry Adds 77,300 Jobs in 2020
Leafly Report: US Cannabis Industry Adds 77,300 Jobs in 2020

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.

HEXO Corp. to Acquire Zenabis Global in Deal Valued at $235 Million
HEXO Corp. to Acquire Zenabis Global in Deal Valued at $235 Million

Canada’s HEXO Corp announced Tuesday plans to acquire competing cannabis firm Zenabis Global Inc. in an all-stock transaction valued at $235 million.

Green Thumb Raises $100 Million in First US Initial Public Offering
Green Thumb Raises $100 Million in First US Initial Public Offering

Chicago-based multistate operator Green Thumb Industries (GTI) has raised $100 million via the sale of 3.1 million registered subordinate voting shares to a single institutional investor at $32.03 per share.

Review: Bimble Hemp-Infused Sparkling Drinks
Review: Bimble Hemp-Infused Sparkling Drinks

New York-based Bimble Beverages makes a line of “chill sparkling drinks” infused with at least 25 milligrams of broad-spectrum hemp extract. Available in three flavors — Blueberry Lemon Ginger, Cucumber Melon Lime, and Grapefruit Basil Mint — Bimble’s bubbly beverages are made with a blend of clarified lemon juice concentrate, raw honey, and natural flavors.

New Lobbying Group Aims to Unite Cannabis Industry, End Federal Prohibition
New Lobbying Group Aims to Unite Cannabis Industry, End Federal Prohibition

A new nonprofit organization that “aims to advance social equity and racial justice and end federal cannabis prohibition" has been formed. Announced Monday, the U.S. Cannabis Council brings several North American cannabis industry stakeholders together in hopes of convincing policymakers in Washington D.C. to legalize marijuana.

Virginia Set to Legalize Adult-Use Cannabis
Virginia Set to Legalize Adult-Use Cannabis

Adult-use cannabis will soon be legal in Virginia. Both chambers of Virginia’s legislature passed separate bills on Friday that would legalize, regulate and tax cannabis for adults over the age of 21.

Eaze Shares 2020 Insights
Eaze Shares 2020 Insights

Eaze, and online cannabis marketplace, recently published its 2020 “State of Cannabis” report highlighting trends and insights from the country’s largest marijuana market: California. According to the company, 400,000 Californians purchased a cannabis product via the Eaze platform in 2020, many of them for the first time as coronavirus-induced shutdown orders forced customers online.

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