California-based Indus Holdings Inc. is acquiring one of the most reputable names in the cannabis industry. The vertically integrated firm, headquartered in Salinas, Calif., announced Thursday plans to buy Los Angeles-based Lowell Herb Co. in a cash-and-stock transaction valued at $39 million.
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.
Cresco Labs co-founder and former president Joe Caltabiano is launching a $100 million SPAC (special purpose acquisition corporation) aimed at acquiring cannabis companies in the U.S., Canada or international markets. The so-called blank check company, Choice Consolidation Corp., today filed a 137-page preliminary prospectus with Canadian Securities Administrators.
Chicago-based cannabis firm Verano Holdings announced Wednesday plans to acquire Florida’s Alternative Medical Enterprises (AltMed) for an undisclosed sum. The merger of the two multistate operators (MSOs) will create one of the largest private cannabis companies in the U.S., a news release noted.
Marijuana industry stakeholders will join attorneys from Burns and Levinson’s cannabis practice on October 29 for a half day conference on the state of the industry. Hosted virtually due to the ongoing COVID-19 pandemic, Burns and Levinson’s fourth annual event will feature panel discussions and presentations with several prominent cannabis industry figures.
Denver-based GrowGeneration (NASDAQ: GRWG) announced Monday the acquisition of Phoenix’s largest indoor and outdoor garden center, Hydroponics Depot, for an undisclosed sum. The purchase adds to GrowGen’s expanding national footprint of Hydroponic gardening stores, which now includes 29 locations across 11 states.
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.
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.
Colorado cannabis firm Schwazze (OTCQX: SHWZ) has cancelled two planned acquisitions of in-state marijuana businesses, including one of the largest outdoor cannabis farms in North America.
High Times' crowdfunding efforts may have stalled, but its dealmaking capabilities are moving ahead expeditiously as the popular pot publication continues its pivot toward a plant-touching business model. The magazine's parent company, Hightimes Holding Corp., has inked a deal for Sacramento, California-based marijuana delivery service Mountain High Recreation, Inc.
Hightimes Holdings, owners of the popular pot publication High Times, inched one step closer to becoming a bonafide plant-touching cannabis business this week. The Los Angeles-based media company announced Tuesday the initial closing of a deal to acquire 10 operational and planned marijuana dispensaries from Arizona-based multistate operator Harvest Health and Recreation.
Canada’s Canopy Growth Corporation has modified the terms of an agreement to purchase New York-based cannabis firm Acreage Holdings that was inked last year. On Thursday, the two companies jointly announced several revisions to a landmark deal that was struck in April 2019 and previously valued at $3.4 billion.
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