The Canadian retail market saw some interesting movement as one giant cannabis company announced a new target, and two companies revealed they are set to join forces.

Alongside those retail developments, this past week a cannabis producer and a drink maker announced the launch of their cannabis drinks in the Canadian market through a partnership.


Keep reading to find out more cannabis highlights from this week.

 

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Canadian cannabis retailers make moves

Canopy Growth (NYSE:CGC,TSX:WEED) told investors its retail efforts will expand into Alberta, arguably one of the most developed retail provincial markets in Canada.

The cannabis giant announced its Tokyo Smoke and Tweed retail brands will combine for 10 brand-new locations across the province, with seven stores going to Calgary right out of the gate.

“We’ve seen the value brick-and-mortar retail brings to our consumers,” Grant Caton, general manager for Canada with Canopy Growth, said in a statement.

Meanwhile, High Tide (CSE:HITI,OTCQB:HITIF) and Meta Growth (TSXV:META), two separate cannabis retailers, announced a plan to combine their operations.

Under the deal, High Tide will acquire all the issued and outstanding shares of Meta Growth at an implied price of C$0.133 each. All Meta Growth shareholders will receive 0.824 of a High Tide common share per Meta Growth share that they hold, resulting in a 14 percent premium for the transaction.

The executive leaders of both operations praised the deal and pointed to the resulting company’s potential to produce C$133 million in annualized revenue thanks to 613 retail locations across Canada.

“Both companies have complementary retail footprints and similar proven operational efficiency models,” Mark Goliger, CEO of Meta Growth, said. “We can immediately leverage synergies, increase margins and have double the scale for the combined company’s owned IP and private label initiatives.”

The two companies also confirmed that after the transaction is completed the resulting entity will apply for a TSX Venture Exchange listing.

 

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Cannabis drinks market sees competition bubble up

Truss Beverages is the resulting company from a partnership between cannabis producer HEXO (NYSE:HEXO,TSX:HEXO) and Molson Coors Beverage Company (NYSE:TAP,TSX:TPX). The joint venture is designed to capitalize on the projected growth attached to cannabis drinks in the Canadian market.

On Tuesday (August 25), the company announced the official launch of its beverage lineup, which includes five branded products: Little Victory, House of Terpenes, Mollo, Veryvell and XMG.

These products will combine CBD and THC product offerings for consumers with different doses within the Health Canada regulation framework for beverages.

“This data shows just how ready Canadians are for a new cannabis experience that better fits their preferences and lifestyles,” Lori Hatcher, head of marketing with Truss Beverage, said. “Quite frankly, it shows how game changing cannabis beverages can be for consumers.”

Cannabis company news

  • Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) intends to start selling edible cannabis products for medical purposes in Florida once it receives approval from the Florida Department of Health. In preparation for this approval, the company built a testing kitchen facility to develop products and has partnerships in place with Binske, Bhang, District Edibles and Love’s Oven to offer edible items.
  • The Green Organic Dutchman Holdings (TSX:TGOD,OTCQX:TGODF) gave investors a top-down update on some of its most recent developments, including international export efforts and the growth of its product portfolio with a new gummy line.
  • iAnthus Capital Holdings (CSE:IAN,OTCQX:ITHUF) issued a statement in the lead up to an investor vote on a recapitalization transaction. The company’s comments were issued to respond and refute statements by a group of shareholders.
  • Planet 13 Holdings (CSE:PLTH,OTCQB:PLNHF) confirmed the upsize of its bought deal public offering. The company will now offer 5.4 million units at a price of C$3.70, resulting in gross proceeds of just over C$20 million.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

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As cannabis products continue to gain a presence in consumers’ minds, retail operations are watching the progress of branded items firsthand.

Retailers can directly see the impact of consumer awareness and are up to date with the latest trends in the market for cannabis products. With that in mind, the Investing News Network (INN) gathered two top-line cannabis retail executives to share their experiences and understanding of the market.

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Spyder Cannabis Inc. (“Spyder” or the “Company”) (TSXV: SPDR), an established Canadian cannabis and vape retailer, is pleased to announce that its wholly-owned subsidiary, Spyder Cannabis Subco Inc. (“Spyder Subco”), has received final approval from the Alcohol and Gaming Commission of Ontario (the “AGCO”) to open its cannabis dispensary located at 776 Liverpool Rd., Unit 4, Pickering, Ontario, L1W 1S2.

Spyder Subco has successfully completed its Pre-Store Opening Inspection with the ACGO and has now been granted permission to begin operating its second cannabis dispensary in Ontario under the SPDR Cannabis brand selling recreational cannabis products and consumption accessories.

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  • Company launches first Zerenia™ medical cannabis clinic outside of Colombia , exporting proven clinic model via strategic partnership with Lima -based Clinica Montesur
  • Clinica Montesur is a specialized medical clinic with over 90 doctors covering 19 specialties and 11,000 patient transactions annually; its clinic is centrally located in Lima, Peru , a city of 10 million people or a third of the country’s total population
  • Partnership combines Khiron’s unique medical cannabis expertise, including the Company’s real-world evidence, medical education, best practices and systems, with Clinica Montesur’s patient base, clinical infrastructure and medical staff
  • In Q1 2021, Khiron’s medical cannabis sales in Peru increased by over 175% compared to total sales in 2020
  • Zerenia™ is the category leader in medical cannabis sales in Colombia , with over 20,000 filled prescriptions and over 8,000 individual patients to date, 50% patient retention, and average 90% gross margins
  • The new Zerenia location brings Khiron’s total clinic count to 11 across Latin America

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN) (OTCQX: KHRNF) ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe today announces the launch of its first Zerenia TM clinic outside of Colombia in Lima, Peru . Following the success of the Company’s clinic strategy in Colombia the new clinic has been established as a strategic partnership between Khiron and Clinica Montesur, a specialized medical provider in Lima with over 90 physicians and more than 11,000 patient transactions annually.

Alvaro Torres , CEO and Director comments, “I am pleased to announce the first expansion of our Zerenia brand beyond Colombia . Knowing that prescription rates at our Zerenia clinics are 14 times higher than those of our external clinic partners, we are excited to bring a proven marketing, sales, and distribution model to a market of over ten million people. To date, our Zerenia clinics have played a vital role in not only introducing patients to Khiron products, but also in developing an exceptional patient experience and growing base of returning patients. As we continue to develop our unique, service-oriented platform, we are proud to introduce  Zerenia to the Peruvian market, where initial reception to our products has been strong since sales began late last year.”

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A first-of-its-kind product in Florida

TALLAHASSEE, Fla. , June 10, 2021 /CNW/ – Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve”), a leading and top-performing cannabis company based in the United States , announced Refined Crème, a new high-end cannabis concentrate that blends cannabis-derived terpenes to offer patients a unique, elevated level of relief.

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HempFusion Wellness Inc. (TSX:CBD.U) (US:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness Company offering premium probiotic supplements and products containing CBD, is pleased to announce the launch of key products through its wholly owned subsidiary, Probulin Probiotics, LLC (“Probulin”), in Boots Ireland, the country’s leading pharmacy-led health and beauty retailer.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210610005311/en/

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