Washington state regulators lengthened the contract for Leaf Data Systems, the seed-to-sale tracking program offered by Denver-based MJ Freeway, requiring the company to focus on stabilizing and fixing the system after the software experienced challenges during a July release. The Washington State Liquor and Cannabis Board (LCB) amended the contract with MJ Freeway, extending it from […]
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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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MJBizDaily partners with Lift & Co. for Canadian, US cannabis events
Marijuana Business Daily and Toronto-based Lift and Co., a publicly traded cannabis technology company, on Tuesday announced they will collaborate on MJ conferences in the United States and Canada. The partnership will kick off Sept. 4-6 at MJBizConINTL in Toronto. The companies’ first combined effort, at the Metro Toronto Convention Centre, will focus on the international […]
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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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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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American public pension funds invest in cannabis through California-based REIT
More than a dozen public pension funds are investing in marijuana through a California real estate investment trust (REIT), a sign that institutional investors wielding billions of dollars in state funds are comfortable pumping money into the cannabis industry. The public pension funds for government employees represent a broad range of states – from California, […]
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Ionic Brands buys Zoots cannabis edibles firm for $11 million
Ionic Brands paid $11 million for longtime marijuana edibles maker Natural Extractions, which does business as Zoots Premium Cannabis Infused Edibles. As part of the stock and cash deal involving two Washington state companies, Zoots’ owners receive $855,000 in cash and more than 9.6 million shares in Ionic Brands, according to a news release. Ionic, with […]
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Ex-Canopy Growth CEO Bruce Linton sounds off on global marijuana trends
Former Canopy Growth co-CEO Bruce Linton, presenting the keynote address at the National Cannabis Industry Association’s Cannabis Business Summit, made light of his recent firing by the board of directors at Canopy Growth.
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Ello Capital launches as marijuana-focused US investment bank
Los Angeles-based Ello Capital plans “one-stop” shopping as a marijuana-focused investment bank serving cannabis companies in the United States. The company said it is filling a need for an underserved clientele with few, if any, other cannabis-focused investment banks currently operating in the U.S. It’s more common for investment banking firms, such as U.S.-based Cowen […]
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October Issue
With the rise of adult use cannabis, experts see medical marijuana dominated by two distinct markets.Read the Issue