Cannabis Acquisition

Organigram Wants To Become Canada's Largest Cannabis Company By Market Share Via $71M Acquisition Deal
Canopy Growth Set To Complete Acreage Acquisition, Leaving Some Shareholders Potentially Open To Losses
Canopy USA's Acquisition Of Acreage Could Mean Staggering Losses For Some Shareholders
Canopy Growth Set To Complete Acreage Acquisition, Leaving Some Shareholders Potentially Open To Losses
Canopy USA's Acquisition Of Acreage Could Mean Staggering Losses For Some Shareholders
Hemp-Focused CV Sciences Expands Via New Cannabis Acquisition, Here's What Investors Need To Know
Nova Cannabis Shareholders Approve SNDL Acquisition: What This Means For Investors

Cannabis Acquisition Recent News

Tobacco Giant Invests $30.8M In Cannabis Company: BAT Private Placement Second Of Three Tranches
Cannabis producer Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has closed the second of three tranches of the previously announced CA$124,559,674 ($92.3 million) follow-on strategic equity investment by BT DE Investments Inc., a wholly owned subsidiary of British American Tobacco plc, (NYSE: BTI) on Tuesday. Under the second tranche closing, the investor acquired Organigram's 4,429,740 common shares and 8,463,435 Class A preferred shares at CA$3.2203 per share, for gross proceeds of $30.8 million. The company said on Tuesday that the remaining 12,893,175 shares subscribed for are due to be issued at the per-share price in the final tranche on or around February 28, 2025.
SNDL Wins Bid For Indiva, Secures Major Deal To Boost Cannabis Edibles Market Share In Canada
SNDL Inc. (NASDAQ: SNDL) announced on Thursday today that its stalking horse bid was chosen as the most successful bid for acquiring the Indiva Limited's (TSXV: NDVA) (OTCQX: NDVAF) business and assets. That's in the context of proceedings under Indiva's filing under the Companies' Creditors Arrangement Act and the sales and investment solicitation process. The transaction is subject to approval by the Ontario Superior Court of Justice overseeing the CCAA proceedings.
Lifeist's U-Turn On Plan To Move Away From Cannabis Industry As It Buys Vaporizer Technology
SNDL Will Buy Remaining Nova Cannabis Shares For $29M, Here's What's Happening And When
SNDL Inc. (NASDAQ: SNDL) and Nova Cannabis Inc. (TSX: NOVC) announced on Tuesday that they have entered into an arrangement agreement under which SNDL will acquire all of the issued and outstanding common shares in the capital of Nova not already owned by SNDL, representing roughly 34.8% of Nova shares, for approximately CA$40 million ($29.1 million). "We are committed to building a consumer-centric model at scale, supported by SNDL's robust shared service model, access to capital, and a well-developed cannabis retail pipeline," Zach George, SNDL's CEO, said. "These factors are integral to the achievement of sustained profitable growth." Under the terms of the agreement, Nova's shareholders will receive $1.75 in cash for each Nova share, representing a premium of 41.2% to the 20-day VWAP of Nova Shares on the Toronto Stock Exchange (TSX) as of market close on Aug. 12, 2024.
Cannabis Giant SNDL Is Taking Care Of Other Companies' Debts, Expects To Acquire Shares Of Canadian Cannabis Edibles Producer
SNDL Inc. (NASDAQ: SNDL) said on Friday that it has entered into a purchase agreement with cannabis edibles producer Indiva Limited (OTC: NDVAF) and its subsidiaries.Under the deal SNDL offered to purchase all of the issued and outstanding shares of Indiva and the business and assets of the Indiva Group.Simultaneously, SNDL reported on Friday that it has wrapped up the acquisition of the principal indebtedness of Delta 9 Cannabis Inc. (OTC: DLTNF) from Connect First and Servus Credit Union Ltd.
Simply Solventless To Acquire CannMart As It Seeks To Expand Into Hydrocarbon Cannabis Concentrates
Simply Solventless Concentrates Ltd. (TSXV: HASH) is acquiring Lifeist Wellness Inc.'s (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) subsidiary CannMart Inc.The Calgary, Alberta-based company said on Wednesday that it has entered into a services agreement regarding the operations of CannMart and a share purchase agreement with Lifeist Wellness Inc. to acquire all of the shares of CannMart.
Organigram Supports Cannabis In Germany With $15M Initial Investment In This Berlin Marijuana Co.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) announced on Tuesday a strategic investment aimed at expanding its presence within the burgeoning European cannabis market. The Toronto-based company will utilize proceeds from its Jupiter strategic investment pool and invest €14 million ($15 million) initially. The sum includes €11.5 million via an unsecured convertible note and €2.5 million to purchase equity interests from existing Sanity Group founders and shareholders providing Organigram with a minority stake in Berlin-based cannabis company Sanity Group GmbH. Concurrent with the investment, Organigram and Sanity Group have entered into a new supply agreement to include significantly higher volumes and the intention to work together on the commercialization of Organigram's brands and intellectual property in Germany.
Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQ: FLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,
Craft Cannabis Co. Grown Rogue Expands In This Booming East Cost Weed Market Via New Acquisition
Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) has obtained licensing approval with the New Jersey Cannabis Regulatory Commission and closed its first option to acquire 44% of ABCO Garden State, LLC on Friday, May 31.Obie Strickler, the company's CEO, said "All regulatory approvals from the CRC have been received and we exercised and closed our option to acquire 44% of ABCO."Under the deal, Grown Rogue has an option to acquire 70% of ABCO through two options, including Option 1 and Option 2, for 44% and 26%, respectively.
Canopy Growth Doubles Down On Its USA Strategy, Announces Exercise of Acreage Options
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced on Tuesday today that the option to acquire all of the issued and outstanding Class E subordinate voting shares of Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), has been exercised.The latest move is by the terms of the arrangement agreement dated April 18, 2019, as amended, between Canopy Growth and Acreage.In connection with the arrangement agreement dated October 24, 2022, by and among Canopy Growth, Canopy USA, LLC and Acreage, as amended, in respect of the Class D subordinate voting shares of Acreage, on closing, Canopy USA will acquire all of the fixed shares and floating shares and Acreage will become a wholly-owned subsidiary of Canopy USA.
Las Vegas Cannabis Powerhouse Planet 13 To Close $49M Florida Expansion Deal After Achieving Another Milestone
Planet 13 closed its previously announced sale of Planet 13 Florida, Inc. on Monday, following the previously announced approval from the Florida Office of Medical Marijuana Use in April. The Las Vegas-based vertically-integrated multi-state company sold 100% of the equity interests of Planet 13 Florida, which owns a medical marijuana treatment center license issued by the Florida Department of Health to SGW FL Enterprises, LLC, in exchange for $9 million.The wrapping up of the sale is a condition to the closing of Planet 13's pending acquisition of VidaCann, LLC.
Las Vegas Cannabis Powerhouse Planet 13 On Verge Of Major Florida Expansion Via $49M Deal
Las Vegas-based cannabis giant Planet 13 Holdings Inc. is a step closer to a major expansion in Florida.The Florida Office of Medical Marijuana Use (OMMU) gave the green light to Planet 13 for the proposed sale of Planet 13 Florida, Inc. and the acquisition of VidaCann, LLC. The sale of Planet 13 Florida, which owns a medical marijuana treatment center license issued by the Florida Department of Health to SGW FL Enterprises, LLC, was a closing condition to the company's proposed acquisition of VidaCann. Planet 13 first announced that it had entered into a membership interest purchase agreement to acquire all of the ownership interests of VidaCann in August for $48.9 million.
Grown Rogue Boosts Ownership Of Michigan Cannabis Operations
Grown Rogue International Inc. has increased ownership in its Michigan operations from 52.2% to 80% via two transactions valued at $2.8 million. The purchase price included $200,000 paid in cash and $2.6 million paid by way of four-year sellers' notes, the company said on Thursday. Grown Rogue boosted its ownership in Golden Harvests, LLC, the entity that controls its Michigan operations, operating out of an 80,000 sq ft facility containing roughly 15,000 sq ft of flowering bench space.
Another Cannabis Pioneer Expands In Germany Via Acquisition As Experts Say 'There's No Stepping Back' From Legalization Wave
Flora Growth Corp. has entered into a definitive agreement to acquire all of the issued and outstanding shares of Hamburg, Germany-based TruHC Pharma GmbH. The company's latest move to further cement its global footprint comes on the heels of a new German cannabis law that went into effect on April 1, which partially legalized cannabis. The new law allows adults over 18 in Germany to legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home.As previously announced, Flora agreed to purchase TruHC Pharma GmbH in an all-stock deal in exchange for 2,770,562 of its common shares, valued at $6.4 million.
MariMed Is On A Roll: Partners With Two Iconic Music Venues In Boston, Acquires Another Illinois Cannabis Dispensary
Multi-state marijuana operator MariMed has closed the acquisition of Allgreens Dispensary, LLC on Tuesday, April 9, its fifth dispensary in Illinois. The Massachusetts-based company said the green light from the Illinois Department of Financial & Professional Regulation for the license transfer and subsequent closing of the acquisition, allows MariMed to fully consolidate the financial results of the company's Thrive-branded dispensary in Casey, Illinois. Previously, the dispensary has been operated under a managed services agreement. The move comes on the heels of MariMed's last week's acquisition of the operating assets of Our Community Wellness & Compassionate Care Center in Prince George's County in Maryland. Jon Levine, MariMed's CEO and one of the speakers at the Benzinga Cannabis Capital Conference next week, said "maximizing our footprint there [in Maryland] has long been one of our top strategic priorities."
This Latin American Cannabis Co. Plans To Expand In Thailand Amid Significant Shifts In Weed Regulation Landscape
PharmaCielo revealed its plans to acquire cannabis operations in Thailand.On Wednesday, the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., said it has signed a binding letter of intent to enter a proposed transaction to acquire 100% of the issued and outstanding shares of Siam Ventures Corporation in exchange for common shares of PharmaCielo equaling to CA$3 million ($2.2 million).PharmaCielo also revealed it's undertaking a non-brokered private placement of 9,090,909 units at CA$0.2 per unit. Under the deal, the sum will be payable on closing by way of the issuance of 13,636,363 PharmaCielo Shares to the Siam Ventures' shareholders on a pro-rata basis.
Canadian Cannabis Co. C21 To Buy Nevada's Deep Roots In $3.5M Deal
C21 Investments Inc. announced on Friday that its wholly-owned Nevada subsidiary, Silver State Relief, LLC, is buying Deep Roots Harvest, Inc. in a $3.5 million deal. Simultaneously, the company announced a non-brokered private placement of a principal amount of CA$1,000 ($740.939) secured convertible debenture units of the company for aggregate gross proceeds of up to CA$4 million. The proceeds will fund the deal to acquire the Nevada-based dispensary.
Aurora Touts 41% YoY Increase In International Medical Cannabis Q3 Revenue, Expands In Australia Via New Acquisition
Canadian medical cannabis company Aurora Cannabis reported its financial and operational results for Q3 2024. Net revenue increased to CAD64.4m ($42m), up from CAD61.1m in the same quarter the previous year. Medical cannabis net revenue rose by 16% to CAD45.1m, representing 70% of Aurora's consolidated net revenue. Gross profit reached CAD19.8m, up from CAD3.7m in Q3 2022, with adjusted gross profit before fair value adjustments increasing to CAD32.4m from CAD28m. The company recorded a CAD25.5m net loss compared to CAD67.2m in the same quarter in the previous year. Adjusted EBITDA came in at CAD4.3m, up from CAD3m. Miguel Martin, CEO of Aurora, said the company's international medical net revenue had seen year-on-year growth of 41%.
Canopy Growth Sells Skincare & Wellness Brand For $11.7M, Streamlines Focus To Cannabis
Cannabis firm Canopy Growth sold its skincare and wellness brand, opting to focus on "a simplified, asset-light, cannabis-focused business."
Ontario's Cannabis Market Heats Up: Shiny Health Buys 10 Stash & Co. Weed Stores, Adding $7.5M To Top Line
Shiny Health & Wellness Corp. has signed an asset purchase agreement with Karan S. Holla for his chain of 10 adult-use cannabis retail stores, Stash & Co. in Ontario. The agreement was signed on December 14, following a previously announced letter of intent in October. The Stash & Co. brand and dispensaries will retain their name and remain unchanged. Shiny Health plans to add the Stash & Co. brand to its existing cannabis consumer program to expand its reach to nearly 100,000 loyal customers. Meris Kott, CEO of Shiny Health & Wellness, expressed excitement about the acquisition and the potential for increased revenue and consumer reach. Shiny Health will continue to conduct final due diligence and finalize lease assignments as part of the transaction, which has a total consideration of CAD 1 million ($750,000), including cash and common shares. The completion of the transaction is subject to approval by the TSXV.
Canadian Home Of Cookies, Sherbinskis And Wyld Cannabis Brands: BZAM Expands Empire With New Acquisition
Canadian cannabis producer BZAM Ltd. (CSE: BZAM) (US-OTC: BZAMF) has entered into a definitive share exchange agreement on Tuesday to acquire Final Bell Canada Inc. from Final Bell Holdings International Ltd.
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