Canopy Growth Corporation (NYSE:CGC,TSX:WEED) announced a deal to acquire KeyLeaf Life Sciences, a bio-product extractor in Saskatoon, Saskatchewan.

As quoted in the press release:


Canopy Growth has been working closely with KeyLeaf – formerly known as POS Bio-Sciences – as a trusted partner building out extraction processes and technology for the past year as it refines its scale extraction model for Canadian and global markets. As previously disclosed, Canopy Growth assumed control of KeyLeaf for accounting purposes in November 2018. As such, KeyLeaf’s financial results were consolidated in the Company’s fiscal 2019 financial statements. Through the transaction the Company is acquiring a large-scale Canadian extraction facility as well as an extraction-related facility in the United States to support the Company’s US CBD expansion.

KeyLeaf has been working closely with Canopy Growth over the past year to retrofit its Saskatchewan facility to advance technology development and commercialization, in order to process hemp and cannabis biomass, and to conduct pre- and post-extraction processes.  It is anticipated the facility, which is currently in the Health Canada licensing process, will be able to process up to 5,000 kilograms of input materials daily when operational.

“The KeyLeaf operations and team deliver instant scale at a pivotal stage in our growth, with brand new products coming to market later this year requiring sophisticated extraction capabilities at scale,” said Bruce Linton, Chairman & co-CEO, Canopy Growth Corporation.

Click here to read the full press release.

Cannabis research firm New Frontier Data has released a new report in which it projects that the value of the total cannabis industry will reach US$51 billion by the year 2025.

Also this week, a few cannabis companies announced new international ventures. This side of the space is full of potential, but is relatively new compared to markets like the US and Canada.

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TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“the Company”) today announced that it has officially launched its new cold storage services for 3rd party manufacturers with the onboarding of its first client, Kase Manufacturing (‘Kase’).

Kase will rent portions of TransCanna‘s 4,400 square foot, state-of-the-art cold storage cannabis freezer for specialized storage of Kase’s fresh-frozen cannabis biomass. The sub-40 degree Fahrenheit cannabis freezer, roughly the size of a five bedroom house, is the largest of its kind in Northern California.

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Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder” or the “Company”), an established Canadian cannabis and vape retailer, is pleased to announce that further to its press release dated August 26, 2021, all of its issued and outstanding common shares (the “Common Shares”) will begin trading on a post-consolidation basis on September 17, 2021 at the commencement of trading on the TSX Venture Exchange (“TSXV”).

On August 26, 2021, the Company announced that the Common Shares would be consolidated on the basis of one (1) post-consolidation Common Share for each five (5) pre-consolidation Common Shares (the “Share Consolidation“).

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 TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it has received pre-qualification approval for cultivation, processing and retail licenses from the state of Michigan’s Marijuana Regulatory Agency pursuant to the Medical Marihuana Facilities Licensing Act. The pre-qualification approval represents TerrAscend’s successful completion of the most comprehensive portion of the State’s licensing and regulatory approval process. The pre-qualification approval is a key closing condition for TerrAscend’s previously announced acquisition of Gage Growth Corp.(“Gage”) (the “Transaction”). The Transaction will close as soon as possible after receipt of the applicable shareholder, court and other regulatory approvals and satisfaction or waiver of all other conditions in the definitive arrangement agreement (the “Arrangement Agreement”).

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX: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 it has increased the size of its previously announced non-brokered private placement from USD $2,000,000 to over USD $2,500,000 (the “Private Placement”). This increase is designed to accommodate additional demand that the Company has received in the financing.

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