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Petalfast currently views itself as the #3 cannabis distributor in CA, with the goal of becoming the #1 or #2 distributor by year end. The company has…
Dai Truong
Avextra closes €17M Convertible Note. Lowell Farms divests Brands and IP. Cresco Labs Q4 Rev. of $200M, down (8%) Y/Y. TerrAscend Q4 2022 Rev. of…
Dai Truong
62% voted "No" to legalizing in Oklahoma. Skymint sued over $127M+ owed to Tropics LP (SNDL). TerrAscend applies to list on TSX. Q4 Earnings: Trulieve…
Dai Truong
New York to double number of retail cannabis dispensary licenses. GTI Q4'22: $259M Rev., up 6% Y/Y, down (1%) Q/Q. Marimed Q4'22: $35.8M Rev. (44% GM…
Dai Truong
Tracking dispensary closures and the reasons why.
Dai Truong

February 2023

NJOY has ~3% market share of U.S. e-cig sales. Revenue estimates puts it at $150M in 2022 (15% decline Y/Y). The company sells a battery, refillable…
Dai Truong
TPCO + Gold Flora. CA 2022 sales of $5.3B, down 8.6% from 2021. VA’s adult-use cannabis market stalled indefinitely. Green Check Verified raises $6M…
Dai Truong
TPCO merges with Glora Flora rather than go at it alone. A standalone TPCO with its cash balance was thought to have a huge competitive advantage in the…
Dai Truong
Twitter to allow cannabis advertising (but can't promote or offer to sale). MariMed acquires third dispensary in MA. Schwazze acquires two Smokey's…
Dai Truong
Hirsh's background in law, management consulting, and Government Affairs at Airbnb, Caliva and MedMen provides him a unique perspective to help clients…
Dai Truong
Alleaves acquires BioTrack from Forian ($30M). Bloomwell Group (Germany) raises funding from Artemis and Measure 8. Ayr Wellness appoints David Goubert…
Dai Truong
Net revenue of $101M declined 28% Y/Y, (2%) GM, ($88M) Adjusted EBITDA. $140-$160M cost reduction next 12 months, impacting 800 jobs.
Dai Truong
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