acreage holdings

Canadian cannabis producers speed entry into US via high-stakes wagers

October 1, 2021

Canadian cannabis companies have picked up the pace to position themselves in the fast-growing markets south of the border – with a number of the deals essentially a wager that the United States will soon legalize marijuana. The recent deals add up to hundreds of millions of dollars and include: Options to acquire equity in […]

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Completion of Acreage’s NJ marijuana grow delayed by hurricane damage

September 8, 2021

Acreage Holdings’ under-construction cultivation facility in Sewell, New Jersey, suffered “extensive damage” from Hurricane Ida, the New York-based multistate marijuana company said. The facility “was nearing the completion of its construction,” according to a Tuesday night news release. “The damage will significantly delay the opening of the Sewell cultivation center,” Acreage Chief Financial Officer Steve […]

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Judge shoots down Maine’s medical marijuana residency rule

August 13, 2021

Maine’s largest medical marijuana operator prevailed in its challenge of the state’s residency requirement. A federal judge this week ruled that it’s unconstitutional for Maine regulators to exclude out-of-state companies from operating medical cannabis dispensaries in the state. Wellness Connection of Maine, which operates four of the eight dispensaries in the state, and its parent […]

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Marijuana firm Canopy Growth posts CA$136M in net revenue for fiscal Q1

August 6, 2021 · Updated August 9, 2021

Canadian marijuana producer Canopy Growth Corp. reported net revenue of 136.2 million Canadian dollars ($108.4 million) for the first quarter of its 2022 fiscal year, an 8.2% decline from the CA$148.4 million reported in the fourth quarter of 2021. However, the latest quarterly net revenue total is up 23.4% growth versus the same quarter last […]

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Acreage selling Florida marijuana arm to Red White & Bloom for $60 million

February 25, 2021

Multistate marijuana operator Acreage Holdings said it has a definitive agreement to sell its medical cannabis operation in Florida to Red White & Bloom Brands for $60 million in cash and stock. The deal reflects a further retrenchment by New York-based Acreage as it refocuses on a few core markets. Toronto-based Red White & Bloom […]

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Maine medical marijuana operator sues over MMJ residency requirement

December 21, 2020 · Updated March 23, 2021

Maine’s leading medical marijuana operator is challenging the state’s MMJ residency requirement, seven months after suing and getting the state to back off a similar provision for adult use. Wellness Connection of Maine on Dec. 17 filed a lawsuit in U.S. District Court in Maine claiming that the residency requirement for MMJ dispensaries violates the […]

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Cannabis MSO Acreage inks $12 million loan to expand Illinois operation

December 2, 2020

Multistate cannabis operator Acreage Holdings said Wednesday it has agreed to a $12 million construction loan to complete the expansion of its cultivation and processing facility in the fast-growing Illinois market. The financing is from The Pelorus Fund, a cannabis-focused real estate investment trust, and carries an annual interest rate of 16% over a term […]

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Asset sales, market growth might boost cannabis multistate operator finances

October 7, 2020 · Updated October 26, 2020

Publicly traded multistate marijuana operators appear to be in better financial health than they were at the beginning of the year, but many have shed operations in potentially lucrative markets to bolster their balance sheets. MSOs are benefiting from growing marijuana markets, strong sales during the coronavirus pandemic and some easing in the capital markets […]

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