Cannabis Deals News

In the first quarter of 2024, the cannabis sector faces a mixed economic landscape with a notable sequential decline in sales across several states.
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02:18pm ET04/22/2024
Cannabis giant Curaleaf Holdings is closing its previously announced acquisition of Northern Green Canada, a vertically integrated Canadian licensed cannabis producer focused primarily on expanding in the international market through its EU-GMP certification. Terms of the acquisition of NGC include an initial payment at closing of the company's subordinate voting shares valued at approximately $16 million, subject to a typical post-closing adjustment. In addition, an earnout may also be paid in 2025 based upon the 2024 performance of NGC's operations, up to 50% of which will be cash and the rest paid in additional subordinate voting shares.
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06:27pm ET04/20/2024
In the spotlight of Viridian Capital Advisors' latest Weekly Valuation Report are 16 Tier 2 and 3 U.S. cultivation and retail cannabis companies, each boasting market capitalizations between $10 million and $200 million.
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05:28pm ET04/19/2024
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) said that in connection with the creation of the company's non-voting and non-participating exchangeable shares, on Thursday, April 18, Greenstar Canada Investment Limited Partnership and CBG Holdings LLC, each a wholly-owned subsidiary of Constellation Brands Inc (NYSE: STZ) exchanged all 17,149,925 common shares in the capital of the company they collectively held for 17,149,925 exchangeable shares for no consideration. The CBG Group no longer holds any common shares of Canopy, as a result, the company said on Thursday. In connection with the termination of the investor rights agreement between CBG, Greenstar and Canopy Growth, the parties entered earlier and following the note exchange, Garth Hankinson, Judy Schmeling and James Sabia each provided notice to the company of his or her decision to resign from the board.
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02:39pm ET04/19/2024
Cannabis is a "competitive industry," and those looking to build their business in the space, should "embrace it." That's according to Kevin Hart, the founder and CEO of Green Check Verified, a leader in banking solutions for the cannabis industry. To get the much-needed capital, all you need to do is not be afraid of the competitive environment, he told those gathered at the Benzinga Cannabis Capital Conference in Florida on Tuesday. "There's access to financial and business services at your fingertips," Hart said, adding "you just have to be prepared to share some information." For Adam Stettner, the founder and CEO of FundCanna, who joined Hart and two other industry experts - Ryan Himmel, vice president and head of strategic partnerships at LeafLink and Sahar Ayinehsazian, a partner in Vicente LLP's Los Angeles office - on the stage at The Diplomat Beach Resort in Hollywood in a panel moderated by Jeanne M. Sullivan, chief investment officer at Arcview Ventures, that information is how the money will be used."
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08:37pm ET04/17/2024
"Not trying to always be the next unicorn is okay… it's actually great." That's according to Morgan Paxhia, a co-founder and managing director at Poseidon Investment Management. He told those gathered at the Benzinga Cannabis Capital Conference in Florida on Wednesday that selling a cannabis business and then building a new one from scratch is not a bad idea. "We need to see good investments being made, entrepreneurs being realistic about the valuations and building good companies… and not being afraid to hit the bit," Paxhia said. That, actually is a great way to attract investors' attention, he added. Paxhia joined three other experts, John Darwin, a managing partner of Luminous Capital, Brett Finkelstein, a managing partner of Skyvest Partners LP and Meris Kott, CEO of Shiny Health & Wellness Corp., on the stage at The Diplomat Beach Resort in Hollywood in a panel discussion moderated by Tom Zuber, a founder and the managing partner of Zuber Lawler, on what makes a company investable in the cannabis industry.
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Flora Growth Corp. has entered into a definitive agreement to acquire all of the issued and outstanding shares of Hamburg, Germany-based TruHC Pharma GmbH. The company's latest move to further cement its global footprint comes on the heels of a new German cannabis law that went into effect on April 1, which partially legalized cannabis. The new law allows adults over 18 in Germany to legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home.As previously announced, Flora agreed to purchase TruHC Pharma GmbH in an all-stock deal in exchange for 2,770,562 of its common shares, valued at $6.4 million.
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