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Dai Truong's Cannabis Newsletter - Issue #22
Big Alcohol is pouring billions into the drinkable marijuana market — but is that how anybody wants to get high?
Greek billionaire Alkiviades David has announced the launch of The Swissx Bank of Cannabis which aims to help legal cannabis transactions.
Arizona Attorney General Mark Brnovich approved a trial program allowing digital payments to medical marijuana dispensaries through the startup Alta.
The opportunity aﬀorded by this situation of “hurry up and wait” isn’t lost on cannabis companies. The market has adapted for cannabis cultivation and production enterprises that can flourish within the confines of a system with fluctuating laws, which is a model built on adaptability that will only become more critical as industry and federal standards become more seamless.
One such company that is prospering through this transitional period is Nabis Holdings Inc. (CSE: NAB). Over the last five years, the Canadian-based investment firm has been assembling an impressive portfolio of vertically integrated multi-state cannabis operations across the United States.
Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), unveiled Sunnyside*, a new dispensary brand created to accelerate industry growth and shift people’s expectations and perceptions around shopping for cannabis from intimidation and doubt to curiosity and acceptance through a new retail and marketing approach.
Trulieve Cannabis Corp. (CSE: TRUL & OTC: TCNNF) opened the doors of a new Fernandina Beach location on Wednesday, July 31st . The new storefront marks the company’s 30th location, a record for Florida’s dispensaries and a first for residents of Nassau County.
Idaho customers gave a new marijuana dispensary just across the Oregon-Idaho state line a booming first day in business. When the store called Weedology opened Friday, customers from Idaho had been waiting in line for more than three hours, the Idaho Statesman reported .
Planet 13 Announces New Edible Brands: HaHa Gummies™ and Dreamland Chocolates™ and Provides Update on Phase II Expansion
Planet 13 in-house brands currently represent approximately 15% of all products sold at the SuperStore. With the opening of the new production facility, Planet 13 intends to continue to grow the in-house brand penetration with a long-term, sustainable target of approximately 50%. Planet 13 also plans to leverage its current SuperStore supplier relationships to gain rapid access for its in-house brands, to premium shelf space in third-party Nevada dispensaries.
Sundial Growers Inc. announced the pricing of its upsized initial public offering of 11,000,000 common shares at a price of US$13.00 per share. In addition, the underwriters have been granted a 30-day over-allotment option to purchase up to 1,650,000 additional common shares
Harvest Health & Recreation, Inc. Announces $225 Million Asset-Backed Financing Plan
CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) announced that it has divested its 5.1% equity interest in Alternative Medical Enterprises LLC (AltMed) for total consideration of $6M. As Cresco is prohibited under state law from acquiring additional positions in the Florida market, this divestment was a pre-closing condition to the Company’s previously announced plan of arrangement pursuant to which Cresco has agreed to acquire all of the issued and outstanding shares of Origin House. Divestment of AltMed represents ~156% return on investment for Origin House shareholders.
The merger combines Cannex’s large-scale cultivation and manufacturing capabilities, as demonstrated by its portfolio of successful product brands, with 4Front’s existing strategic asset base and its long-standing retail, regulatory, and growth capabilities. The result is a cannabis company built for the long haul.
Sunniva (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, announces the closing of its previously announced non-brokered private placement of CAD $5,772,879 for a total of 5,772,879 units of the Company. Proceeds of the Offering will be used to provide short term working capital for operations in California, capital costs at the Sunniva California Campus and general corporate purposes. Each Unit consists of a principal amount of unsecured promissory notes of the Company and common share purchase warrants of the Company.