Marijuana Sales, Funding & Banking News

Columbia Care reports higher marijuana revenue, bigger losses

Columbia Care, a New York-based multistate cannabis operator, reported revenue of $19.3 million for the second quarter ended June 30, up from $9.6 million in the same period last year. Net loss for the period was $33.7 million, compared with a loss of $4.2 million in the second quarter of 2018. The company said the […]

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Recreational marijuana sales and business licenses trending upward in Colorado

Adult-use cannabis sales account for an increasing portion of overall legal marijuana commerce in Colorado, according to new state data, with the number of adult-use MJ business licenses also on the rise. Based on an annual update from the Colorado Marijuana Enforcement Division, 66% of the total pounds of marijuana flower and 86% of the total […]

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Canada’s TerrAscend looks to snap up US marijuana firm Ilera for up to $225 million

TerrAscend, an Ontario, Canada-based vertically integrated cannabis company, agreed to acquire Ilera Healthcare, a Pennsylvania-based marijuana cultivator, processor and dispensary operator for up to $225 million (CA$297 million). The total cost of the transaction will depend on Ilera reaching certain revenue and profitability targets. For now, TerrAscend is set to pay $25 million in cash and […]

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Marijuana firm CannTrust faces probe by Ontario regulators, police

Cannabis cultivator CannTrust Holdings disclosed the company is under investigation by securities regulators and the police, the latest blow to hit the embattled Ontario firm. The company said in a news release that the Ontario Securities Commission (OSC) has opened an investigation “into matters and parties related to CannTrust.” The agency assigned the case to […]

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Cannex, 4Front complete cannabis merger; trading starts next week

An almost $500 million merger of a Canadian and a U.S. marijuana company closed, months later than originally planned. Vancouver, British Columbia-based Cannex Capital Holdings, a cannabis company with a cultivation and manufacturing presence in Washington state, and Phoenix-based multistate retail operator 4Front Holdings, begin trading next week as 4Front Ventures Corp. Starting Tuesday, 4Front […]

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Deal Watch: Hemp, infused products and devices see notable gains in M&A activity

While overall merger and acquisition investment in the North American cannabis industry has been far outpacing that of 2018, several sectors have posted notable increases so far this year.

Three sectors – hemp, infused products and extracts, and consumption devices – have seen M&A activity values at $1.42 billion this year.

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Harvest Health secures $225 million loan to boost marijuana expansion

Harvest Health & Recreation, a Phoenix-based multistate cannabis operator, secured up to a $225 million loan to help accelerate growth. The loan, to be structured in three $75 million tranches, is backed by Miami-based Torian Capital Partners. Harvest said the proceeds will be used for:  Working capital.  Strategic acquisitions.  General corporate purposes. The loan will […]

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Antitrust issues weigh on US cannabis stocks, but is it enough to unravel deals?

The U.S. cannabis industry has seen billions of dollars of acquisitions in recent months, attracting scrutiny from federal trustbusters examining whether planned purchases could quash competition in the emerging marijuana industry. The U.S. Department of Justice’s review of the deals – including those involving Chicago-based Cresco Labs (CSE: CL; OTC: CRLBF) and Arizona-based Harvest Health & Recreation (CSE: HARV; OTC: […]

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Chart: Cannabis investors shift from loan financing to equity investment

Cannabis investors are changing their investment strategy in a bid to capture higher returns, shifting away from extending loans to companies in favor of investing in their shares. As the perceived risk of investing in the cannabis industry recedes, investors see more upside from investing in cannabis companies’ stock and are less interested in loan […]

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Equity analysts join MJBizDaily to cover marijuana industry

Marijuana Business Daily hired two equity research analysts to expand its coverage for investors in the cannabis space. Craig Behnke and Mike Regan will develop and oversee content for MJBizDaily‘s Investor Intelligence product. Both analysts have extensive backgrounds in financial and investment analysis as well as modeling that will enhance the breadth and depth of coverage […]

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