Nick Thomas

Cannabis group Cansortium raises $56 million-plus ahead of IPO

Miami-based Cansortium, a vertically integrated cannabis operator, said it raised just over $56 million in funds ahead of its initial public offering (IPO). The company will use the net proceeds for continued expansion of its medical cannabis operations in Florida, Michigan, Pennsylvania, Texas, Puerto Rico, Canada and Colombia for repayment of debt and for general […]

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Cannabis financier Gotham Green Partners to invest up to $250 million in MedMen

MedMen, a California-based multistate marijuana operator, said it will receive an investment of up to $250 million from private equity fund Gotham Green Partners (GGP). The investment – a convertible credit facility – is believed to be the largest to date by a single investor in a publicly traded cannabis company with U.S. operations. The money […]

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Cannabis extraction company Nextleaf begins trading on CSE

Vancouver, British Columbia-based Nextleaf Solutions has begun trading on the Canadian Securities Exchange (CSE) under the ticker symbol OILS. The company uses its technology to extract and process cannabinoid distillate, which can be used for premium infused products. Nextleaf said it has completed the construction of an extraction and processing facility in the Vancouver area and […]

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Curaleaf signs distribution deal with CVS for hemp products

(For an analysis of this deal from an investment standpoint, sign up for our new premium subscription service Investor Intelligence.) Massachusetts-based Curaleaf has inked a deal with the CVS pharmacy chain to begin selling hemp products at 800 stores in 10 states. The distribution deal was announced during Curaleaf’s investor and analyst call to discuss its fourth-quarter and […]

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Canadian firm DionyMed to acquire L.A. cannabis campus, other assets for $19 million

Toronto-based DionyMed Brands, a multistate cannabis brands operator, said it will acquire the 1.8-acre Los Angeles campus of MM Esperanza 2, also known as MMAC, for $19 million. The campus includes a dispensary, distribution and manufacturing facilities and a customer-fulfillment center. In a news release, DionyMed said the deal improves the company’s brands distribution and […]

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US marijuana firm Vireo Health launches on Canadian exchange

Vireo Health, a Minnesota-based multistate operating cannabis company, started trading Wednesday on the Canadian Securities Exchange. Vireo has growing, dispensary and processing operations in six states. Vireo is trading under the ticker symbol VREO. More details can be found here.

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Amyris closes on potential $300M cannabinoid deal with biotech group Lavvan

Amyris, a California-based company focused on wellness products, said it has closed a deal potentially worth $300 million with biotech startup Lavvan to research and develop synthetic cannabinoids. The move follows that of Canada’s Cronos Group inking a $122 million deal with Boston-based Ginkgo Bioworks last September to produce lab-grown cannabinoids. Analysts at Toronto-based Paradigm Capital […]

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Illinois marijuana firm Grassroots closes $90 million raise to expand operations

Chicago-based Grassroots said it completed a $90 million capital raise designed to expand the company’s footprint and operations. Grassroots, a vertically integrated cannabis company that operates in 11 states, said in a news release it will use the funds to: Expand cultivation facilities in Illinois, Maryland and Pennsylvania. Build out newly secured dispensary licenses. Bankroll […]

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Marijuana company Curaleaf to buy Nevada’s Acres Cannabis for $70M

Massachusetts-based Curaleaf, a vertically integrated cannabis operator, agreed to buy Acres Cannabis for $70 million in a cash and stock deal. Acres Cannabis currently operates 269,000 square feet of cultivation facilities in Nevada with plans to expand that to more than 400,000 square feet. The company also has a flagship dispensary in Las Vegas and […]

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Cresco to enter FL medical marijuana market via $120M VidaCann purchase

Cresco Labs, a Chicago-based vertically integrated cannabis company, agreed to acquire Florida medical marijuana provider VidaCann in a $120 million cash and stock deal. The deal gives Cresco a presence in Florida for the first time, expanding its operations into eight states and giving the company a toehold in a major MMJ market. VidaCann plans […]

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Marijuana firm Tilray taps ex-Goldman Sachs managing director

Canadian marijuana cultivator Tilray said it is hiring former Goldman Sachs Managing Director Andrew Pucher as chief corporate development officer. Pucher – the latest Wall Street executive to enter the marijuana industry – most recently covered cannabis stocks for Goldman as part of his role as managing director and head of Canadian Diversified Investment Banking. At […]

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