Flower One Holdings, the former Canadian parent company of Nevada cannabis company Flower One, closed a restructuring deal and implemented a plan of arrangement under the Companies’ Creditors Arrangement Act.
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Marijuana MSO Trulieve closes commercial loans worth $90.4 million
Florida-based marijuana multistate operator Trulieve Cannabis closed on two commercial loans in December worth gross proceeds of $90.4 million, including a five-year arrangement for $71.5 million and a 10-year loan worth $18.9 million.
Struggling cannabis companies turn to Canadian insolvency law
An unusual number of cannabis companies have used a Canadian corporate insolvency law called the Companies’ Creditors Arrangement Act (CCAA) in 2022, a trend that demonstrates both the marijuana industry’s financial challenges and one possible solution to keep businesses from slipping completely underwater.
MediPharm Labs to acquire Vivo Cannabis in all-stock Canadian deal
MediPharm Labs is acquiring Vivo Cannabis in an all-stock deal, marking the latest consolidation move in the Canadian marijuana industry.
Canada’s SNDL shifts retail strategy in deal with Nova Cannabis
Canadian company SNDL is reducing its direct exposure to marijuana retail in a multifaceted deal involving Nova Cannabis.
Cowen downgrades Columbia, Cresco over lack of marijuana banking reform
Investment bank Cowen has downgraded its outlooks for major cannabis multistate operators Columbia Care and Cresco Labs after U.S. lawmakers declined to include marijuana banking reform in an omnibus spending bill.
Canadian recreational cannabis sales decline in October
Monthly retail sales of regulated recreational cannabis in Canada declined by 0.8% from September to October, totaling 389.2 million Canadian dollars ($286 million).
Florida adult-use cannabis legalization petition gathers 50,000+ signatures
An attempt to put adult-use cannabis legalization directly to Florida voters in 2024 has gathered more than 50,000 valid signatures, but the petition still has a long way to go before it gets a place on the ballot.
Marijuana tech firm Agrify seeks gross proceeds of $8.7 million in share offering
Cannabis cultivation technology firm Agrify Corp. priced a public offering of shares and warrants to raise gross proceeds of roughly $8.7 million before expenses.
2 major Canadian cannabis wholesalers put brakes on delta-8 THC products
Cannabis wholesalers in Ontario and British Columbia – two major Canadian adult-use marijuana markets – are suspending orders of products containing delta-8 THC.
Cannabis company Hexo consolidates shares, posts CA$52.1M quarterly loss
Canadian cannabis company Hexo Corp. on Thursday announced a share consolidation and posted a 52.1 million Canadian dollar ($38.2 million) net loss for the first quarter of its 2023 fiscal year.
Cannabis retailer Fire & Flower posts CA$28.1 million quarterly net loss
Canadian cannabis retailer Fire & Flower reported a net loss of 28.1 million Canadian dollars ($20.7 million) for the third quarter of its 2022 fiscal year.
