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On Monday,
Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) announced it s purchasing
Harvest Health & Recreation Inc. (CSE:HARV) (OTCQX:HRVSF) for roughly $2.1 billion in stock. Harvest shareholders will own roughly 26.7% of Trulieve s issued and outstanding pro forma shares on a fully diluted basis.
Commenting on the deal, Debra Borchardt, CEO of Green Market Report, told Benzinga, “The acquisition is likely to come with its fair share of headaches. Harvest Health has a mountain of debt and lots of lawsuits over various deals. Still Trulieve is certainly on a quest to become a nationwide company and this will certainly help pave the way.”
Welcome to Insider Cannabis, where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar cannabis boom.
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Marijuana legalization has achieved such enormous strides, many people are starting to take access to weed for granted. The historical context of the War on Drugs is being forgotten.
The lifting of restrictions against cannabis remains a social, political and economic revolution and as such, the “green rush” still represents the investment opportunity of a lifetime.
For a quick refresher course in marijuana history, I bring you Henry J. Anslinger.
Anslinger served as the first commissioner of the Federal Bureau of Narcotics during the presidencies of Hoover, Roosevelt, Truman, Eisenhower, and Kennedy. The bureau was the precursor of the modern-day Drug Enforcement Administration. Anslinger played the key role in the introduction and passage of the Marijuana Tax Act of 1937, which outlawed possessing or selling pot. Anslinger once told the nation: