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.”
Cresco Labs announced Thursday its second quarter financial results, reporting record revenue of $94.3 million – a quarter-over-quarter increase of 42%. The multistate cannabis firm, which is headquartered in Chicago, said it experienced 30% or more revenue growth in all of its markets except Massachusetts, where adult-use dispensaries were ordered to close for two months at the beginning of the
Democratic presidential nominee Joe Biden and running mate Sen. Kamala Harris will sit down with ABC’s David Muir for their first joint television interview on Sunday evening. Cannabis industry professionals will no doubt be tuning in to see if Biden and Harris are questioned about marijuana. Can Harris push Biden to support federal adult-use cannabis legalization?
Curaleaf Holdings announced Monday its second quarter financial results, reporting record managed revenue of $121.4 million — a quarter-over-quarter increase of 16%. The Massachusetts-based marijuana firm, which last month became the country’s largest cannabis company after closing its acquisition of GR Companies (Grassroots), also said its first half revenue surpassed $226 million.
Dutchie, a leading e-commerce solution for the cannabis industry, has closed a $35 million Series B funding round. In a news release, Dutchie said several high profile investors — including rapper Snoop Dogg, NBA star Kevin Durant, and former Starbucks chairman and CEO Howard Schultz, participated in the round.
Leafly, an online cannabis information resource and commerce platform, has named general counsel Yoko Miyashita as its next chief executive. Effective Tuesday, Miyashita will supplant outgoing CEO Tim Leslie, a former Amazon executive who was tapped to lead the Seattle-based company in March 2019.
The Montana Secretary of State last week certified two complementary petitions — Initiative 190 and Constitutional Initiative 118 — that, if passed, would legalize and tax cannabis products for adults over the age of 21. Backed by New Approach Montana, the legalization measures aim to establish a regulated adult-use cannabis market in Big Sky Country.
Sales of cannabis soared to new highs in Colorado during the month of June as retailers sold a record $198 million worth marijuana products, according to the Department of Revenue’s Marijuana Enforcement Division.