Calgary, Alberta-based marijuana retailer High Tide is spending $8 million to acquire Smoke Cartel, a U.S. e-commerce website that sells cannabis accessories and CBD products. Under terms of the deal, High Tide will pay $2 million in cash and $6 millio…
Author: Omar Sacirbey
Recreational marijuana sales kick off in Arizona less than three months after voters pass ballot measure
Arizona approved 73 dispensaries to start selling recreational marijuana on Friday, launching the state’s adult-use cannabis program with sales beginning less than three months after voters approved the new market. The state’s recreational …
Pyxus International divesting Canadian cannabis subsidiaries
U.S. tobacco firm Pyxus International is divesting its Canadian cannabis subsidiaries, with plans to sell off the companies and “focus on its more profitable tobacco and e-liquid businesses.” The three subsidiaries – Figr Brands, Cana…
Latest Canadian cannabis recalls include melting vape pens, moldy bud
Canadian cannabis products recalled in January include defective all-in-one vape pens from Hexo Corp. as well as moldy marijuana from Saskatchewan processor AgroGreens Natural Products and mislabeled bud from Manitoba’s Delta 9 Bio-Tech. HexoR…
Cannabis MSO Verano announces $100M subscription receipt financing
Multistate cannabis operator Verano Holdings raised $100 million in subscription receipt financing in connection with a reverse-takeover deal that will see the company go public on the Canadian Securities Exchange. The Chicago-based firm, which current…
Cannabis firm CannTrust reaches agreement to settle shareholder claims
Embattled Canadian cannabis producer CannTrust Holdings on Wednesday announced a restructuring support agreement that will pave the way for the company to settle shareholder lawsuits as it restructures. Under the agreement, shareholders’ litigati…
Maine recreational cannabis store faces fine over mermaid logo
A South Portland, Maine, recreational cannabis retailer has run afoul of the state’s marijuana regulator over its logo, which depicts a mermaid holding a shell. SeaWeed Co. owner Scott Howard faces a $10,000 fine over the “willful use of a …
Cannabis MSO Cresco prices Canadian share offering to raise $125 million
Chicago-based multistate cannabis operator Cresco Labs priced an overnight marketed share offering, designed to raise roughly $125 million, at 16 Canadian dollars ($12.56) per share. The offering of Cresco’s Canadian subordinate voting shares was…
Ontario cannabis stores can still offer pickup, delivery during lockdown
Brick-and-mortar cannabis stores in Canada’s largest recreational marijuana market are still permitted to offer home delivery and curbside pickup during a government stay-at-home order, although their operating hours have been restricted and cons…
Aphria grows Q2 revenue, reports CA$120.6M net loss
Canadian cannabis company Aphria reported increased quarterly revenue on Thursday for the quarter ended Nov. 30, with a net loss of 120.6 million Canadian dollars ($95.3 million). The Ontario-based firm posted net revenue of CA$160.5 million, a 10% inc…