Marijuana Business Magazine May-June 2019

Marijuana Business Magazine | May-June 2019 18 Recent deals, acquisitions and other announcements from North American cannabis companies By Omar Sacirbey Company News | U.S. & Canada Pharmacy Giants CVS, Walgreens and Rite Aid Join CBD Retailing Massachusetts-based Curaleaf , a vertically integrated cannabis operator, inked a deal with the CVS pharmacy chain to sell hemp lotions and transdermal patches in 800 stores. Rhode Island-based CVS has more than 9,800 U.S. stores. Rite Aid began selling CBD creams, lotions and other topicals in more than 200 stores in Oregon andWash- ington state in April. The Camp Hill, Pennsylvania-based retailer has more than 2,400 stores in 19 states. The Walgreens pharmacy chain will sell CBD creams, sprays and transdermal patches in 1,500 stores in nine states. Walgreens didn’t disclose what brands it planned to carry. Amyris Closes on Potential $300M Deal With Biotech Group Lavvan Amyris , a California-based company focused on wellness products, said it has closed a deal potentially worth $300 million with biotech startup Lavvan to research and develop synthetic cannabinoids. Lavvan is a privately held startup with executives from the pharmaceutical, financial and cannabis industries. Under the agreement, Lavvan will be responsible for the global manufacture and commercialization of the cannabinoids.  Cresco Labs Inks $823M Acquisition of Origin House; Makes Florida Purchase Cresco Labs agreed to acquire Origin House —a Canadian firm with a massive portfolio of brands and major California presence—in a deal valued at $823 million. The all-stock deal marks the largest acquisition in the United States of a publicly traded cannabis firm, topping iAnthus’ $625 million, all-stock deal announced in October for MPX Bioceutical. Origin House, which changed its name from Canna- Royalty last year, trades on the Canadian Securities Exchange (CSE) under the ticker symbol OH. Cresco, a Chicago-based vertically integrated can- nabis company, trades on the Canadian Securities Exchange as CL and on the over-the-counter market as CRLBF. The acquisition will boost Cresco’s footprint in California, where Origin House is a top cannabis distributor, delivering more than 50 brands to 500-plus dispensaries across the state. All told, the combined company will boast licenses for up to 51 retail locations and more than 1.5 million square feet of cultivation across 11 states, Cresco said. Separately, Cresco agreed to acquire Florida medical marijuana provider VidaCann in a $120 million cash-and-stock deal. VidaCann has seven dispensaries and plans to have 20 operating by the end of 2019. The company also has a 70,000-square-foot cultivation and production facility. Curaleaf Acquires Nevada Grower for $70 Million Curaleaf , a vertically integrated cannabis operator, agreed to buy Acres Cannabis for $70 million in a cash-and-stock deal. Acres Cannabis currently operates 269,000 square feet of cultivation facilities in Nevada with plans to expand that to more than 400,000 square feet. The company also has a flagship dispensary in Las Vegas and is looking for a second dispensary there. Massachusetts- based Curaleaf has 42 dispensaries, 12 cultivation sites and 10 processing facilities. Wana Partners for New Nano Delivery Method Nanotechnology continues to infuse the marijuana industry. Wana Brands , the Boulder, Colorado, edibles giant, partnered with Quicksilver Scientific , a Lafayette, Colorado, developer of liposomal delivery systems, to develop a rapid-onset tincture product. Wana hopes to harness Quicksilver’s nanotechnology expertise to develop Wana Brands’ Nano Technology Tincture, which takes effect in five minutes and lasts for up to two hours. Wana said the tincture was scheduled to launch in the second quarter of 2019. Wana is also continuing its partnership with ultra- marathon runner Flavie Dokken . Dokken will run as a Wana ambassador in 2019 events that include the Collegiate Peaks Trail Run (May 4 in Buena Vista, Colorado), Speedgoat 50K (July 20 in Alta, Utah), Run the Rut 50K (Sept. 1 in Big Sky, Montana) and Mad Moose Sage Burner Trail Race 28K (Oct. 26 in Gunnison, Colorado). U.S. DEVELOPMENTS