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Monster R650 Million SA Cannabis Deal

That almost R650 million figure is a drop in the ocean compared to South Africa's cannabis industry as a whole, which is estimated to be worth around R28 billion.

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The Week In Cannabis: Amazon, Canopy s Earnings, Africa s Largest Co , Drake, Ashley Benson And More

Another busy week in cannabis saw the stock market post generalized losses, as Amazon.com Inc. (NASDAQ:AMZN) came out in support of the federal legalization of marijuana, announcing it will drop marijuana testing requirements for some of its workers. Dave Clark, CEO of Amazon’s worldwide consumer division, said in a blog post that the e-commerce giant will actively support the Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act), which would decriminalize marijuana at the federal level. The bill was reintroduced in Congress last Friday. Canopy Growth Corporation (TSX:WEED) (NASDAQ: CGC) reported its fourth quarter and fiscal year 2021 earnings with a net loss for the year amounting to CA$1.7 billion ($1.41 billion), representing a CA$283 million wider loss versus FY 2020.

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South African CBD company nets big deal in anticipation of cannabis-industry boom

South African CBD company nets big deal in anticipation of cannabis-industry boom 3 Jun 2021 High time: The global medical cannabis industry is expected to generate $82.9-billion by 2027 and the International Monetary Fund has said cannabis is the 59th-largest economy in the world. “It’s time now,” says Warren Schewitz, the founder and chief executive of CBD wellness brand Goodleaf. He is referring to long-awaited plans to commercialise South Africa’s largely unregulated cannabis industry. “It is exceptionally challenging and frustrating when you have all the pieces, but you don’t have a framework. And I think the government is missing an opportunity. That said, government departments are coming together,” Schewitz said.

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In yet another huge dagga deal, major SA cannabis companies ink a R650 million merger

In yet another huge dagga deal, major SA cannabis companies ink a R650 million merger Jun 03, 2021, 02:39 PM facebook (Getty) Goodleaf, which opened South Africa s first legal commercial cannabis store in 2019, is merging with a Lesotho-based grower. The deal, said to be worth around R650 million, is aimed at expanding Goodleaf s export market. This latest deal follows a flurry of developments in South Africa s cannabis sector, with government readying a master plan and a JSE-listed firm investing in plants and smokables . For more stories go to www.BusinessInsider.co.za. One of South Africa s first commercial cannabis brands, Goodleaf, has merged with Highlands Investments in a deal they value at approximately R650 million. The newly-announced partnership follows several high-profile developments in South Africa s cannabis industry, with neighbouring Lesotho playing a vital role.

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Goodleaf fusionne avec Highlands Investments, anciennement Canopy Growth Africa

Goodleaf fusionne avec Highlands Investments, anciennement Canopy Growth Africa
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