M&A, capital raises, share prices, major expansions and financial analysis
New Brunswick cannabis producer Organigram’s loss narrowed to 1.3 million Canadian dollars ($1 million) as adult-use sales soared over 70% compared to the comparable year-ago period, according to the company’s first-quarter financial results released Tuesday.
Marijuana producer Tilray Brands acquired two California craft beer brands in late 2021, Alpine and Green Flash, in a cash and stock deal worth $5.1 million (6.4 million Canadian dollars), according to a new regulatory disclosure.
Colorado Democrat Ed Perlmutter, a champion in the U.S. House of Representatives for cannabis reform, announced Monday he won’t run for reelection in 2022.
The world’s leading brewer, AB InBev, and Canada’s leading cannabis producer by market share, Tilray, have ended their partnership, the New York-based cannabis company quietly acknowledged in a regulatory filing early Monday.
Tilray reported net revenue of $155. 1 million (196 million Canadian dollars) in the quarter ended Nov. 30, considerably lower than consensus expectations of $170 million in cannabis sales, citing coronavirus-related headwinds, supply-chain issues and a lower share of the key Canadian market.
Ascend Wellness Holdings says MedMen Enterprises’ attempt to terminate a New York acquisition deal is “essentially challenging (New York) regulators’ authority and ignoring the regulations of the state’s medical program.”
While capital has become more accessible for many marijuana firms, sometimes the decision to extend funds is more about protecting a position than actually supporting a cannabis operator’s trajectory.
