Vertically integrated California cannabis company Glass House Brands is acquiring three retail locations in the state from Natural Healing Center (NHC) in a deal worth more than $22.6 million.
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Weedmaps parent launches digital marijuana retail payments in Canada
Marijuana technology company WM Technology is launching a new integrated digital payment service for cannabis retailers in Ontario, Canada’s largest adult-use market, with plans to launch in other provinces.
Cannabis MSO Curaleaf appoints Darin as new CEO, replacing Bayern
Major cannabis multistate operator Curaleaf Holdings appointed Matt Darin as its new chief executive officer, taking over from Joe Bayern.
Marijuana REIT NewLake Capital inks $30 million credit facility
Marijuana industry real estate investment trust NewLake Capital Partners announced it secured a five-year revolving credit facility worth $30 million, with the possibility of expansion to $100 million “as additional lenders are added.”
MSO MariMed buys Illinois cannabis licensee Green Growth Group
Multistate marijuana company MariMed completed the acquisition of Illinois cannabis company Green Growth Group, vertically integrating its business operations within the Midwestern state.
Ontario cannabis store count approaches 1,900 amid retail glut worries
New data from Ontario’s cannabis retail regulator show nearly 1,500 cannabis stores operating in Canada’s biggest adult-use marijuana market and hundreds more applications in the pipeline, reinforcing concerns that a glut of retailers could force many operators to shut their doors this year.
Scotts Miracle-Gro sees cannabis supply sales decline, buys nutrient brand
Lawn and garden products giant Scotts Miracle-Gro reported a 44% year-over-year quarterly sales decline in its cannabis-focused Hawthorne Gardening Co. division, as well as Hawthorne’s acquisition of Australian hydroponic nutrient brand Cyco for $34 million.
Marijuana lender AFC Gamma gets $60 million revolving loan from 2 banks
Marijuana industry lender AFC Gamma has announced a revolving credit facility worth at least $60 million from two federally insured banks.
Marijuana REIT IIP provides $45 million in funding to PharmaCann in New York
Marijuana real estate investment trust Innovative Industrial Properties announced $45 million worth of funding to privately held multistate cannabis operator PharmaCann to expand its New York facility.
Canadian cannabis producer Hexo appoints new CEO, CFO yet again
Major Canadian cannabis company Hexo Corp. appointed its third chief executive in less than a year and its sixth chief financial officer since 2019.
Michigan cannabis company Fluresh arranges $48M in new debt, refinancing
Vertically integrated Michigan cannabis operator Fluresh announced $25 million in new debt from an unspecified “federally regulated commercial bank headquartered in southeast Michigan,” alongside a $23 million debt refinancing from the same lender.
Georgia company files lawsuit over medical cannabis licensing process
Medical marijuana business Cumberland Curative filed a lawsuit against the Georgia Access to Medical Cannabis Commission (GMCC) over the agency’s handling of the application process for MMJ licenses.
