A shortened week came with no shortage of news.
In New York, Gov. Andrew Cuomo signed recreational marijuana into law on Wednesday, making the Empire State the 15th in the U.S. to legalize cannabis.
The legislation allows adults 21 and older to possess up to 3 ounces of cannabis or 24 grams of. Read More.
Santa Barbara-based cannabis company going public, says its creating 1,000 more local jobs
SANTA BARBARA, Calif. The Farmacy was the first cannabis store in Santa Barbara when it opened August 24, 2019. The parent company for The Farmacy is Glass House Group.
Last week, Glass House Group merged with the special acquisition company (SPAC) Mercer Park Brand Acquisition Corp. The deal will allow Glass House Group to be traded on the Canadian stock market, the NEO Exchange.
Companies often merge with SPACs in what’s referred to as a reverse acquisition. The SPAC acquires the company, then the company takes over the business. These deals happen to allow a company to forego initial public offerings and go public more easily.
Santa Barbara-based cannabis company going public, says its creating 1,000 more local jobs
SANTA BARBARA, Calif. The Farmacy was the first cannabis store in Santa Barbara when it opened August 24, 2019. The parent company for The Farmacy is Glass House Group.
Last week, Glass House Group merged with the special acquisition company (SPAC) Mercer Park Brand Acquisition Corp. The deal will allow Glass House Group to be traded on the Canadian stock market, the NEO Exchange.
Companies often merge with SPACs in what’s referred to as a reverse acquisition. The SPAC acquires the company, then the company takes over the business. These deals happen to allow a company to forego initial public offerings and go public more easily.
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Presented by REAL SOLUTIONS®, a community safety program of the firearm industry.
With Daniel Lippman
PECK MADIGAN JONES REBRANDS: Peck Madigan Jones, one of the top lobbying firms on K Street, announced today that it will drop the name and rebrand as
Special purpose acquisition company Glass House Group for $567 million.
The deal implies a $1.024-billion equity valuation and an approximate enterprise valuation of $691 million.
Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF) purchased European operator EMMAC Life Sciences. The U.S.-based company agreed to pay $50 million in cash and 17.5 million in stock worth roughly $260 million.
In addition, Curaleaf teamed up with an institutional investor to secure $130 million in financing for further expansion of Curaleaf International.
Meanwhile,
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced it will buy
The Supreme Cannabis Company, Inc. (TSX:FIRE) (OTCQX:SPRWF) for about CA$435 million ($345.7 million).