A Nevada Cultivator Learns Hard Lessons from the Pandemic Covid-19 hit Nevada hard in every sector. Flower One hopes to reverse that.
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With New York s recent legalization of adult-use of cannabis and New Mexico and Virginia legalization around the corner, the U.S. is well on its way to having 18 states with legal adult-use cannabis by the end of the year. On top of that, Senate Majority Leader Chuck Schumer is gearing up to introduce some significant federal cannabis reform measures to speed up legalization on the national level. Together, with vaccine rollouts and the promise of reopening, these tailwinds create a situation where tourism and cannabis may have a solid second half of the year.
Mar 12, 2021 09:10 pm
By Chloe Aiello
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U.S. cannabis company Curaleaf agreed to acquire London-based Emmac Life Sciences in a $286 million deal that represents the company’s first step into the burgeoning European cannabis market.
“We think, although the market is just emerging, it s the addressable opportunity in Europe could actually be bigger than the addressable opportunity in the U.S., and this gives us an unparalleled platform to be able to build on,” Curaleaf CEO Joe Bayern told Cheddar.
The cash and stock transaction is expected to close early in the second quarter of 2021.
Cannabis multistate operator Curaleaf already has a substantial presence across the U.S. market. Following its $830 million acquisition of Grassroots Cannabis, which closed in July, the company has a footprint across 23 U.S. states including Arizona and New Jersey, where voters recently approved adult-use legalization. The Emmac acquisition grants Curaleaf access to the expanding Euro
This week, cannabis stocks experienced quite a bit of volatility amid a slew of big news items.
On Monday, New Jersey Gov. Phil Murphy signed a trio of adult-use cannabis reform bills, making recreational marijuana legal and regulated for adults 21 years and older, while also decriminalizing the possession among all inhabitants of the state.
Following the news, Cantor Fitzgerald analyst Pablo Zuanic recommended investors to keep an eye on three companies with a large presence in the Garden State
Curaleaf Holdings Inc. (OTCQX: CURLF),
Green Thumb Industries Inc. (OTCQX:GTBIF) and
Columbia Care Inc. (OTCQX:CCHWF).
Also this week,
Parallel CEO and chewing gum billionaire William “Beau” Wrigley Jr. confirmed the company will go public via a $1.9 billion merger with
Tom Schuba/Sun-Times
Employees of a Weed Street dispensary slammed their “corporate overlords” on Wednesday for allegedly pushing back against their unionization push though it’s unclear who’s currently running the pot shop in Goose Island.
During a news conference Wednesday outside Windy City Cannabis, 923 W. Weed St., two workers said they’re organizing to fight for better wages and bonuses, added job security and considerations to keep workers safe amid the pandemic.
“We’re in the middle of a terrible recession and workers are always the people who are going to face the brunt of it,” Jake Lytle, a product specialist, told reporters. “So we need to make sure that we can keep ourselves protected.”
Koach Capital has launched a new $100 million fund, Benzinga has learned.
The Michigan-based sale-leaseback provider, focused on retail locations for the cannabis industry, will leverage the success of its first fund to continue to pursue transactions of this nature, building on the more than $40 million it has already invested via its first fund.
“Fund II will allow us to continue providing sale-leasebacks at even more attractive rates,” said founding partner Sandy Kronenberg. “Koach has always prided itself on being the best in the business at understanding cannabis property valuations and underwriting. Mitch’s cannabis and real estate expertise will allow us to further hone our offerings.”