Major free-standing shopping malls in Ontario, Canada, are throwing open their doors to cannabis stores, signaling the evolution of marijuana retail in the nation beyond more typical street-facing and strip-mall locations. The impending growth in cannabis store mall openings in Canada’s biggest provincial cannabis market could bring opportunities for those retailers to: Reach untapped customer […]
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Item 9 to acquire Colorado marijuana retailer for Unity Rd. franchise
Vertically integrated cannabis company Item 9 Labs signed a deal to buy an unspecified licensed marijuana store in a Denver suburb for an undisclosed sum. The location will become the first corporate-owned store under Item 9’s dispensary franchise brand Unity Rd. “and is anticipated to open within the next 4-6 months,” Item 9 said in […]
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Cannabis financier AFC Gamma to raise $100 million in new notes offering
Cannabis real estate lender AFC Gamma announced plans to raise $100 million through an upcoming debt offering. According to a Wednesday news release, net proceeds from AFC Gamma’s offering of senior unsecured notes will be used: “To fund loans related to unfunded commitments to its existing borrowers.” To originate new loans and for working capital […]
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Cannabis firm Agrify buys two Sinclair Scientific brands for at least $50 million
Ancillary cannabis business Agrify said it acquired two marijuana- and hemp-related equipment and services brands from Sinclair Scientific for at least $50 million. The acquired brands are: Precision Extraction Solutions, described as “the industry leader in cannabis and hemp extraction equipment, technology, lab design and site planning.” Cascade Sciences, which produces processing equipment such as […]
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Cannabis companies use social media, local news reports and email newsletters to reach customers
A cannabis store can be well-located, beautifully designed and staffed by experts selling the best products available, but without marketing and advertising to attract clientele, sales won’t reach their potential. “Marketing is the place where people engage with the company you’ve built,” said Thomas Winstanley, vice president of marketing with Theory Wellness, a vertically integrated […]
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Marijuana real estate lender Pelorus closes $42.3 million notes offering
Pelorus Equity Group, a commercial real estate lender to marijuana companies, closed a $42.3 million private placement of senior unsecured notes from its real estate investment trust, Pelorus Fund. The notes bear a 7% interest rate and are due in 2026. The Pelorus Fund will use net proceeds from the offering to offer “a new […]
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Lessons from 1,200-plus Canadian retailers: Q&A with Thrive Cannabis exec Bubba Nicholson
Bubba Nicholson is on an epic cannabis adventure across the world’s second-largest country, touring hundreds of licensed recreational marijuana stores in four Canadian provinces in a quest to build brand awareness and glean retail insights. Nicholson is vice president of business development and ethos at Thrive Cannabis, a privately held cannabis grower and concentrates manufacturer […]
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Canadian campaign seeks reduced cannabis excise taxes
A group of small- and medium-sized Canadian marijuana cultivators is calling on the federal government to reform its cannabis excise tax regime, seeking an end to a flat minimum per-gram tax and other tax adjustments based on a producer’s size. The Stand For Craft campaign, which launched Wednesday, says it represents “craft (licensed producers), processors, […]
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Marijuana Company of America borrowing $10 million to expand
Los Angeles-based cannabis holding company Marijuana Company of America (MCOA) raised $10 million via an equity line of credit agreement with White Lion Capital. The proceeds will be used “to drive growth,” MCOA said in a Tuesday news release. Specifically, the release noted, the funding will “facilitate MCOA’s strategic plan to expand its business by […]
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Nevada cannabis cultivator Flower One raises $5 million in private placement
Nevada cannabis cultivator Flower One Holdings raised $5 million in the first tranche of a nonbrokered private placement. Flower One has the option to increase the size of the private placement by an additional $10 million. Proceeds will be used “for implementing critical improvements to (Flower One’s) facilities and for general corporate and working capital […]
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Challenges abound in New Jersey’s hot cannabis real estate market
Cannabis businesses entering New Jersey are facing a sizzling market for retail and industrial cannabis real estate ahead of the launch of recreational sales, forcing them to search aggressively for appropriate sites in limited areas, and pay premiums to secure them.
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New Ohio SPAC raising $30.5 million for wellness acquisitions, including CBD
A new special purpose acquisition company (SPAC) started by Ohio marijuana industry players is raising money to acquire small wellness brands. Better For You Wellness has a term sheet with Williamsburg Venture Holdings for up to $30 million plus $500,000 from private placements, according to business publication Columbus Inno and a company news release. The […]
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