Dai Truong's Cannabis Newsletter - Issue #12
Overpoliced, Underrepresented: Racial Inequality and Cannabis Capitalism
With more than 80 percent of legal cannabis companies under white ownership, black and brown Americans are struggling to break in. And while the exclusion and underrepresentation of people of color are certainly characteristic of the American economy more broadly, marijuana’s historical significance makes this inequality particularly troublesome.
Q&A: Cresco's CEO on Cannabis and Equity in Illinois
Charlie Bachtell talks to Cannabis Wire about his role on the governor’s transition team, and how the cannabis community in Illinois is ready to help the state succeed where others have struggled on equity.
Organigram to invest $15M for infused chocolate innovation
Anticipating the legalization of adult-use cannabis edibles, and ready to demonstrate a leadership position in the edibles market, Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF), a leading licensed producer of cannabis, is pleased to announce a $15M investment commitment in a high-speed, high-capacity, fully-automated production line with ability to produce an estimated 4M kilograms of exceptional chocolate cannabis edibles per year. Organigram expects to take delivery of the line in the fall.
iAnthus Unveils Rollout of National Retail Brand, Be.
Neil Calvesbert, iAnthus’ Chief Marketing Officer, said, “Be. was created to align with what we see as the need for a cannabis retail experience where consumers can simply "Be. You”. Be. is a place to empower self-expression and being a better version of yourself. Be. is a place where you will smile again.“ The Company also updated its investor presentation.
How a little-known tax auditing firm became ‘kingmakers’ of California cannabis
Since expanding into marijuana consulting in 2015, HdL has quietly but steadily grown into arguably the most influential player in shaping the Golden State’s marijuana market, the biggest in the world. HdL counts 61 local governments as cannabis consulting clients, 41 for which it’s completed projects and another 23 that are in the contract-negotiation stage, for a total of 125 clients.
An Interview with Nidhi Lucky Handa: Founder and CEO of Cannabis Brand, Leune
The founder and CEO of Leune, Nidhi Lucky Handa, talks about her company, her inspiration, her family, and her vision of weed’s future.
Former NFL players look to invest in marijuana businesses, push policy
Retired football players, who use marijuana to help with injuries suffered on the field, are becoming vocal advocates for legal weed.
Canopy-Acreage Deal Too Risky to Be Replicated
The structure doesn’t appeal because it limits the target’s potential stock gains, said Hadley Ford, CEO of New York-based cannabis firm iAnthus Capital Holdings Inc. “There’s no new capital associated with that and I think it puts a limit on what your upside might be,” Ford said in an interview at a Canaccord Genuity Group Inc. pot conference in New York.
How Berner Built a Cannabis Brand Empire
The rapper got his start checking IDs at a pot shop. Now his Cookies brand is baking up a fortune.
Edie Parker Flower Opens Headshop With Luxury Pot Accessories
Edie Parker’s cannabis accessories line Flower is now front and center at the handbag maker’s Manhattan boutique.
Terra Tech Launches Cannabis Delivery Service in Orange County
Terra Tech, a vertically integrated cannabis-focused agriculture company announced that it has launched a legal cannabis delivery service, operating from its state licensed Blüm dispensary in Santa Ana, CA. Through its Blüm Santa Ana dispensary, Terra Tech is now a major supplier of medical and adult-use cannabis to Santa Ana and the surrounding cities, such as Irvine, Laguna Beach and Newport Beach.
Originally published in Banana Magazine, Geraldine Mae Cueva interviews fellow Asian and Asian American entreprenuers in the cannabis space.
SLANG CEO Peter Miller Interview With CNBC's Tim Seymour
CNBC’s Tim Seymour interviews Slang Worldwide CEO Peter Miller at the Green Market Report Summit in Chicago on May 7. Miller talks about the early days of cannabis legalization in Canada, the fast growth of SLANG and new products being launched by Firefly.
Fire & Flower Selected for Manitoba Cannabis Store License and Intends to Launch e-Commerce Sales
Fire & Flower Holdings Corp. (the “Company”) (TSXV: FAF) today announces that its wholly-owned subsidiary, Fire & Flower Inc. (“Fire & Flower”) has been selected by the province of Manitoba to open a cannabis retail location in Swan River, Manitoba. Other winners can be found here.
SOL Global Adds CA to its MSO Portfolio with Acquisition of Northern Emeralds and One Plant
SOL Global (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is announced that it has entered into letters of intent to acquire ECD, Inc., which operates as Northern Emeralds, an industry leading cannabis cultivation, processing and distribution company headquartered in Humboldt County, California, as well as six (6) licensed dispensary companies in California that will subsequently operate under the nationally recognized “One Plant” brand. SOL Global intends to open One Plant-branded dispensaries throughout California (a total of 20 operating and licensed dispensary companies), Florida, and Michigan.
Natura Life + Science Secures $91M to Build California’s Largest Vertically Integrated Cannabis Campus
Natura Life + Science (Natura), a contract manufacturing company, today announced the completion of a $91 million round of private financing and the construction of what will be the largest vertically integrated cannabis campus in California. Natura’s first planned facility spans 265,000 square feet, and when fully operational, will provide a full-service offering through its own in-house capabilities including cultivation, manufacturing and extraction, wholesale packaging and distribution, a delivery-only dispensary, and branding and marketing services. Natura is scheduled to begin manufacturing, distribution and delivery in the third quarter of 2019, and expects to begin cultivation in early 2020.
Green Growth Brands Complete $45.5M Financing
Green Growth Brands, Inc. (CSE: GGB) (OTCQB: GGBXF) (“GGB” or the “Company”) is announced it has raised gross proceeds of US$45.5M pursuant to a private placement of convertible debt, in the form of 15% secured convertible debentures at a price of US$1,000 per Debenture and with a conversion price equivalent to C$7.00 per common share. The net proceeds of the Debenture Financing will be used for general corporate and working capital purposes.
Zola Acquired by Caliva
Plant-based beverage maker Zola was acquired last week from investment group KarpReilly by California-based cannabis company Caliva for an undisclosed sum, the company announced today. The acquisition will help Caliva to broaden its vertically-integrated cannabis business — which produces flower, vape, and oil products — into beverage through its access to Zola’s research and development team and established retail distribution network.
Supreme Cannabis to Acquire Premium Wellness Cannabis Company Blissco
Blissco to complement Supreme Cannabis growing brand portfolio and accelerate its growth as a premium wellness-focused cannabis company. The acquisition is valued at ~CAD$48M.
Trulieve to Acquire CT-based Dispensary The Healing Corner
Trulieve (CSE: TRUL) announced that the Company has entered into an agreement to acquire Healing Corner, a medical marijuana dispensary located in Bristol, Connecticut.
Body and Mind Completes CAD$10M Financing
Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ), with assets in Nevada, California, Ohio and Arkansas, announced it has closed its previously announced private placement offering with M Partners, as lead agent.
Tinley Raises $8.9M after Closing the Second Tranche
The Tinley Beverage Company announced that it has closed a second tranche of its recently announced private placement, raising total gross proceeds of $8.9M in both tranches. The Company intends to use the net proceeds for general working capital including the completion and commissioning of its Phase 3 facility in Long Beach, California, financing production to fulfill its existing $200,000 backorders and anticipated new orders, conducting robust marketing programs in major markets throughout California, pursuing co-packing deals and expanding into additional territories.
Indus Expands Operations Into NV And OR
Indus Holdings, Inc. (“Indus”) (CSE: INDS), announced that it has signed a definitive agreement to acquire the assets of W The Brand (“W Vapes”), a multi-state manufacturer and distributor of cannabis concentrates, cartridges and disposable pens, in a cash and stock transaction. The transaction solidifies Indus’ position as a market leader and dominant force in the cannabis industry through expansion of its operations beyond California into the cannabis-friendly states of Nevada and Oregon.
Nextleaf Solutions Closes $4.2M Financing
Nextleaf Solutions Ltd. (CSE: OILS) is an extraction technology company that has developed a portfolio of issued and pending patents pertaining to the company’s unique, industrial-scale process of producing purified cannabinoid distillate, a tasteless, odourless cannabis concentrate best suited for infusing premium value-added products.
Heritage to Acquire 30% of LA-Based Endocanna Health
Endocanna has developed the Endocannabinoid DNA (“EndoDNA”) test which uses a home-based saliva collection kit to identify clinically relevant genetic variants related to cannabinoid receptors and metabolism for an individual. This information is provided with information on terpene variations and cannabinoid ratios which may work best for their specific genetic results. This process, supported by scientific research, was developed to help people to participate in their own health choices, and to assist individuals in making informed decisions on formulations and dosing of cannabinoids
Aphria announces Executive Appointments and Transition
Aphria (TSX:APHA and NYSE:APHA), a leading global cannabis company today announced several new executive appointments including James Meiers as COO, Aphria Leamington, Tim Purdie as CIO & CISO, and Maureen Berry as VP, Corporate Human Resources.
Neptune adds Martin Landry as Chief of Corporate Development & Strategy
Martin Landry, CPA, CA has accumulated 20 years of experience in capital markets and accounting. Since 2013, Martin was at the forefront of the Canadian cannabis industry and witnessed its evolution firsthand. In his last position as Managing Director Equity Research at GMP Securities, he developed an extensive network in the cannabis industry.