Marijuana Sales, Funding & Banking News

Reports: Canopy Growth to buy Acreage Holdings, creating North American cannabis giant

Get more in-depth analysis of this deal – and others in the cannabis industry – with an Investor Intelligence subscription. Canada’s Canopy Growth is close to a deal to acquire New York-based marijuana multistate operator Acreage Holdings, multiple sources, including CNBC and Bloomberg, reported Wednesday. If true, it would be the first cross-border deal involving a Canadian marijuana licensed […]

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Canada’s adult-use cannabis market boosts Organigram’s Q2 results

Higher plant yields helped New Brunswick-based Organigram slash its “all-in” cost of cultivation to 85 Canadian cents per gram (63 cents) – among the lowest in the industry – on gross revenues of CA$33.4 million in its second fiscal quarter results. The results for the period December to February take into account the company’s first […]

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Marijuana Business This Week: German medical cannabis contracts, CBD self-regulation, MMJ group’s bank account closed & more

Here are some notable stories and events to watch for in the coming days: MAKING IT OFFICIAL: Contracts between Germany’s Federal Institute for Drugs and Medical Devices and the three companies it tentatively selected to cultivate and distribute its medical cannabis could be formalized as early as Wednesday after a mandatory 10-day appeals process expires. […]

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PharmaCann gets extension on Ohio cannabis grow facility key to MedMen deal

PharmaCann, which is due to merge with MedMen via a $682 million stock deal, received a state extension until October to complete the development of a cultivation facility in Buckeye Lake, Ohio. The $20 million cultivation center must be operational before California-based MedMen can complete the acquisition of PharmaCann, according to Columbus Business First. That’s because […]

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Marijuana giant Canopy Growth to join S&P/TSX 60 index

The S&P/TSX 60 index will add Canopy Growth, an Ontario-based cannabis company, on April 18. Canopy is believed to be the first cannabis company included in the Canadian Large-Cap Index. To be considered for the exclusive index, companies must meet certain market capitalization, liquidity and domicile requirements. Canopy, based in Smiths Falls, trades on the […]

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Webcast: Behind marijuana firm Harvest Health’s acquisition strategy

Arizona-based Harvest Health & Recreation has dominated recent headlines, primarily a result of its active acquisition strategy to grow into new markets. Last month, Harvest announced a record-breaking purchase of Verano Holdings and, this week, followed with a plan to acquire CannaPharmacy, a vertically integrated marijuana company operating in four Northeastern states. What’s driving Harvest’s […]

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Marijuana firm Trulieve posts massive Q4 net income and revenue gains

Trulieve Cannabis Corp. posted massive fourth-quarter revenue for 2018 and net income gains fueled by the multistate operator’s market-leading position in Florida, the company said in an earnings release. Trulieve reported fourth-quarter revenue of $35.9 million, up from $28.3 million for the same quarter in 2017. Full-year revenues grew to $102.8 million – an increase […]

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Harvest Health to buy CannaPharmacy, expand cannabis operations

Phoenix-based Harvest Health & Recreation agreed to acquire CannaPharmacy, a vertically integrated marijuana company operating in four Northeastern states. Terms were not disclosed, and a Harvest spokesman confirmed the deal was not material to the company. CannaPharmacy has cultivation, manufacturing and retail operations in Delaware, Maryland, New Jersey and Pennsylvania. “There is tremendous value in […]

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Marijuana packaging group KushCo to restate financial results, report fiscal Q2 2019

KushCo Holdings, a California-based cannabis packaging company, said it is restating its results from both fiscal 2018 and 2017 to reflect accounting errors stemming from previous acquisitions. The result is an increased net loss in fiscal 2018 from $10.2 million to $24.3 million while net income in fiscal 2018 is to rise from $100,000 to […]

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Green Thumb Q4 sales climb 237% amid expanding marijuana operations

Green Thumb Industries, a Chicago-based multistate cannabis company, reported revenue of $20.8 million for the fourth quarter ending Dec. 31, 2018, up 237% from the same period a year before thanks to GTI’s expansion into additional states and the opening of more stores. The net loss for the quarter was $3.1 million compared with a […]

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