iAnthus Capital Holdings Again Expects to Default on Interest Payments
iAnthus Capital Holdings Again Expects to Default on Interest Payments

New York-based cannabis firm iAnthus Capital Holdings will once again default on interest payments due on senior secured and unsecured debts totaling roughly $160 million. In a news release issued Thursday, the multistate operator said it does not anticipate being able to make payments on the debt obligations, which are due on June 30, 2020.

Hightimes Holding Corp. Revises Dispensary Purchase Agreement with Harvest Health & Recreation
Hightimes Holding Corp. Revises Dispensary Purchase Agreement with Harvest Health & Recreation

Hightimes Holding Corp. has amended a previously announced deal with Harvest Health & Recreation that includes the ownership transfer of several California cannabis dispensaries. Under the new agreement, Hightimes will acquire 10 operational and planned marijuana retail locations from the Arizona-based multi-state operator in a deal now valued at $67.5 million.

Hightimes Holding Corp. to Buy 2 California Dispensaries, License Name to Red, White & Bloom Brands
Hightimes Holding Corp. to Buy 2 California Dispensaries, License Name to Red, White & Bloom Brands

On Tuesday, Hightimes Holding Corp. said it would acquire two marijuana dispensaries in the Golden State for a combined $500,000 in cash and 15 million shares of Hightimes common stock. That announcement came just days after the company struck a nearly $26 million licensing arrangement with Toronto-based Red, White & Bloom Brands.

Cresco Labs Set to Name National Basketball Players Association Executive Director Michele Roberts to Board of Directors
Cresco Labs Set to Name National Basketball Players Association Executive Director Michele Roberts to Board of Directors

Cresco Labs is set to name National Basketball Players Association executive director Michele Roberts to its board of directors this month. The Chicago-based cannabis firm, which currently owns 29 retail licenses and operates in nine states, will ask shareholders to elect Roberts and nine other directors to its board at an annual shareholders meeting on June 29 2020, according to a public filing.

Denver's Schwazze Inks $118 Million Deal with Starbuds Group
Denver's Schwazze Inks $118 Million Deal with Starbuds Group

Denver, Colorado-based cannabis firm Schwazze, formerly known as Medicine Man Technologies, today announced plans to acquire 14 new locations throughout the Centennial state. The cash-and-stock deal, which is expected to close in the third quarter of 2020, is valued at approximately $118 million and includes 13 front-range dispensaries as well as one cultivation site owned by the Starbuds Group.

Cannabis Industry Compensation Packages Reviewed by Bedford Consulting Group
Cannabis Industry Compensation Packages Reviewed by Bedford Consulting Group

Do higher executive compensation packages lead to better performance amongst publicly traded cannabis companies? Not exactly. A recent review of 96 cannabis firms by Bedford Consulting Group, a Canada-based executive search firm, found that organizations with well-compensated executives actually unperformed against the Bloomberg Intelligence Global Cannabis Index, Bloomberg noted.

Acreage Holdings Raises $60 Million Amid Restructuring
Acreage Holdings Raises $60 Million Amid Restructuring

New York City-based multi-state cannabis firm Acreage Holdings has announced plans to raise $60 million, the majority of which will come via the sale of class A subordinate voting shares to an unnamed institutional investor.

Several US Cannabis Companies ‘Targeted’ During Nationwide Protests as Business Owners Lose Millions to Looters
Several US Cannabis Companies ‘Targeted’ During Nationwide Protests as Business Owners Lose Millions to Looters

Dozens of cannabis businesses across the U.S. sustained costly damages over the weekend when demonstrations over the death of Minneapolis man George Floyd turned violent and widespread vandalizing and looting in several major cities began.

Following C$1.3 Billion Net Loss in Fiscal Q4 2020, Canopy Growth CFO Admits 'We Missed Opportunities'
Following C$1.3 Billion Net Loss in Fiscal Q4 2020, Canopy Growth CFO Admits 'We Missed Opportunities'

Canopy Growth Corporation today announced its full year and fiscal 2020 fourth quarter financial results, reporting a net loss of C$1.3 billion ($946 million) for the three-month period ending March 31, 2020. A majority of the eye-popping losses stemmed from previously announced impairment and restructuring charges, which totaled C$743 million.

MedMen Reports Q3 Earnings Following Profiles by Politico and Patriot Act with Hasan Minhaj
MedMen Reports Q3 Earnings Following Profiles by Politico and Patriot Act with Hasan Minhaj

MedMen Enterprises yesterday announced its 2020 fiscal third quarter earnings, reporting just 4% revenue growth compared to the previous quarter. In a press release, the embattled Los Angeles-based cannabis firm said revenue totaled $45.9 million in Q3, representing growth of 41% year-over-year.

Cresco Labs to Acquire 4 Medical Marijuana Dispensaries in Ohio
Cresco Labs to Acquire 4 Medical Marijuana Dispensaries in Ohio

Chicago-based Cresco Labs has agreed to purchase four medical marijuana dispensaries in Ohio from Verdant Creations, LLC, the vertically integrated cannabis firm announced Tuesday. In a press release, Cresco said the acquisition would allow it to go deeper in a key market where it currently has just one retail shop. 

Pure Oasis, Boston’s First Cannabis Dispensary, Reopens for Business
Pure Oasis, Boston’s First Cannabis Dispensary, Reopens for Business

Earlier this year, Boston became the first major East Coast city to permit the opening of an adult-use cannabis dispensary. After years of planning, Pure Oasis opened its doors in early March, only to suddenly be forced to close after Massachusetts Governor Charlie Baker ordered all “non-essential” businesses to temporarily shutter in response to the global coronavirus pandemic.

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