A Canadian cannabis company is celebrating a decision that will allow it to take full control of a third-party producer.

Also in the market this week, two companies confirmed their merger and told shareholders the details about the new resulting company.


Keep reading to find out more cannabis highlights from the past five days.

 

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LP ownership showdown comes to an end

Village Farms International (NASDAQ:VFF,TSX:VFF) confirmed that Emerald Health Therapeutics (TSXV:EMH,OTCQX:EMHTF) shareholders have decided to allow Emerald to sell its stake in Pure Sunfarms, a licensed producer (LP) of cannabis.

On Thursday (October 29), both publicly traded companies announced the decision. Emerald CEO Riaz Bandali thanked investors for the decision as the company undergoes a rebalancing period. According to Emerald, a 98.65 percent majority of shareholders approved the transaction.

While the two companies originally joined forces to launch and oversee Pure Sunfarms, conflict ensued between Village Farms and Emerald as the two first disputed a wholesale agreement stipulation.

While the issue was later solved, contention over Emerald’s majority ownership stake in Pure Sunfarms remained in the spotlight.

In September, the two companies finally came together to settle the ownership dispute, and it was agreed Village Farms would acquire the 41.3 percent stake in Pure Sunfarms owned by Emerald.

Two US cannabis companies close merger plan

Also on Thursday, Dixie Brands (CSE:DIXI.U,OTCQX:DXBRF) told the market its planned reverse takeover deal with BR Brands will complete at the end of October. The new company will be called BellRock Brands and will trade under the ticker symbol “BRCK.”

“Under BellRock management, the platform is poised for exponential growth, through both M&A and organic R&D, and is purposely built to cater to all of the industry’s fastest growing segments,” Andrew Schweibold, chairman of BellRock, said in a statement.

In terms of management, Dixie CEO Chuck Smith will retain the top position. “Our mission is to build the first national cannabis house of brands,” he said.

Cannabis company news

  • IntelGenx (TSXV:IGX,OTCQB:IGXT) announced a planned supply agreement deal with Heritage Cannabis Holdings (CSE:CANN,OTCQX:HERTF) to provide filmstrip products with CBD, with distribution planned for the Canadian and Australian markets.
  • Curaleaf Holdings (CSE:CURA,OTCQX:CURLF) expanded the presence of its Select-branded stores to the Illinois state market. The company’s branded stores are now available in 15 states.
  • Inner Spirit Holdings (CSE:ISH) added six new stores in October to its portfolio across Canada. The new stores are located in Ontario, Alberta and Newfoundland and Labrador.
  • Liberty Health Sciences (CSE:LHS,OTCQX:LHSIF) reported its financial results for its second fiscal quarter of 2021. The company highlighted its 26 dispensaries in the Florida market and reported net sales of C$18 million for the period.

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.

Editorial Disclosure: Heritage Cannabis Holdings is a client of the Investing News Network. This article is not paid-for content.

 

Cannabis - Will The Fortune 500 Join The Party?

 
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Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer products in cannabis, today announced Boris Jordan Curaleaf Executive Chairman, will participate in Cantor Fitzgerald’s cannabis focused “Weednesday Series” investor fireside chat on June 30, 2021 at 11:00 am ET .

The event will be hosted by Pablo Zuanic , Managing Director, U.S. Consumer and Cannabis Equity Analyst at Cantor Fitzgerald and will be webcast live. To access the fireside chat webcast, please visit the investor relations section of the Curaleaf website, under the events tab, at https://ir.curaleaf.com/events .

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Code Investment Love Hemp Announces Major Deal that Will See Anthony Joshua as Brand Ambassador and Collaborator on Licensed Range of CBD Products for Athletes

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company’s investment, Love Hemp Group Plc. has signed a major endorsement agreement with World Heavyweight Champion, Anthony Joshua, (https:twitter.comanthonyjoshua

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Canbud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“Canbud” or the “Corporation”) is pleased to announce that its subsidiary Empathy Plant Co. has joined Plant-Based Foods of Canada (PBFC).

PBFC was founded in 2018 and has since acted as the collective voice of plant-based food companies. As a division of Food, Health & Consumer Products of Canada (FHCP), they work to keep consumers, governments and industry participants informed about the benefits of plant-based foods. The goal of PBFC is to move regulations forward to support innovation, growth and make plant-based eating more available to the masses.

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 Trulieve Cannabis Corp. (” Trulieve ” or the ” Company “) (CSE: TRUL) (OTC: TCNNF) and Harvest Health & Recreation Inc. (” Harvest “) (CSE: HARV) (OTCQX: HRVSF) today  announced the expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) in connection with the previously announced proposed acquisition (the “Transaction”).

Trulieve CEO Kim Rivers commented, “Completion of the HSR milestone is exciting and we will continue to work toward closing this strategic transaction. Upon closing, we expect to leverage the expertise and resources of the combined companies to realize meaningful scale and expansion for years to come.”

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Little Green Pharma Ltd (ASX: LGP) has acquired a world-class, fully-operational, GMP medicinal cannabis cultivation and manufacturing facility in Denmark from Canopy Growth Corporation (TSX:WEED, NASDAQ: CGC).

The facility, located in Northern Odense , has the capacity to produce in excess of 12 tonnes per annum of finished flower and provides LGP with much-needed product supply from its current inventory of ~1 tonne of medicinal cannabis flower products.

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