Cresco Labs Gets Vertically Integrated License in New York

Cresco Labs (CSE:CL,OTCQX:CRLBF) announced that it has received approval for its acquisition of Gloucester Street Capital, the parent entity of Valley Agriceuticals.

As quoted in the press release:

Valley Ag holds one of the 10 vertically integrated cannabis business licenses granted in the State of New York by the New York State Department of Health. Each license gives the operator the right to operate one cultivation facility and four dispensaries in New York. Valley Ag’s license was recently renewed for a two-year period. The acquisition is expected to close by the end of August.

Valley Ag’s assets include four licensed dispensaries with operating locations in Bardonia and New Hartford along with new dispensaries scheduled to open in Williamsburg, Brooklyn and Huntington, Long Island within the next 14 days.

“We are very pleased to take the next step in building the most strategic and valuable geographic footprint in the cannabis industry,” said Charles Bachtell, CEO and Co-founder of Cresco Labs. “As the holder of one of only 10 vertically integrated businesses licenses in New York, we believe that Cresco Labs will make a significant impact in this large and influential market that is projected to grow to $500 million by 2022, according to Arcview/BDS Analytics. In virtually all consumer-related sectors and industries, New York is viewed as the most important market in the world, which made it a critical component of our strategic geographic expansion plan. Having the opportunity to establish Cresco Labs in New York will significantly advance our goal to build the first national brand in the cannabis industry.”

Click here to read the full press release.

Cannabis Free Report Cover

Find out what experts say about profiting from the cannabis market in 2021!

  
Read our FREE 2021 cannabis outlook report!
 

Aurora Cannabis Closes Previously Announced Bought Deal Financing

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000. The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the Offering at an exercise price of US$12.60 per Warrant Share, subject to adjustment in certain events.

Keep reading... Show less

/R E P E A T — AMP German Cannabis Group and Aphria’s subsidiary CC Pharma GmbH enter into Strategic Co-Promotion Agreement for the Sale of Medical Cannabis in Germany/

AMP German Cannabis Group Inc. (” AMP “) (CSE: XCX ), ( Frankfurt : C4T ) (ISIN: CA00176G1028) and Aphria Inc.’s (” Aphria “) (TSX: APHA ) (NASDAQ: APHA) wholly-owned German subsidiary, CC Pharma GmbH (” CC Pharma “), have entered into a strategic agreement (the ” Co-Promotion Agreement “) covering joint marketing of sales for Aphria brand medical cannabis products for the German market.

The Co-Promotion Agreement is a collaboration contract between AMP and CC Pharma to sell the Aphria medical cannabis brand in Germany . In addition, AMP will organize with the support of CC Pharma, “information events” in Germany to market Aphria branded products to doctors and pharmacists.

Keep reading... Show less

HempFusion Announces Inclusion in Leading Cannabis ETFs

HempFusion Wellness Inc. ( TSX:CBD.U ) ( FWB:8OO ) (“ HempFusion ” or the “ Company ”) is pleased to announce that it has been included in two leading cannabis & hemp-derived CBD focused exchange-traded funds (“ ETFs ”), AdvisorShares Pure US Cannabis ETF ( NYSE:MSOS ) and AdvisorShares Pure Cannabis ETF ( NYSE:YOLO ).

AdvisorShares is a leading sponsor of actively managed ETFs. Pure US Cannabis ETF (MSOS) is the only US-listed ETF dedicated solely to US cannabis exposure, with over US$616,000,000 in assets under management (“ AUM ”). Pure Cannabis ETF (YOLO) was the first US-based actively managed ETF focused on the global cannabis industry. YOLO and MSOS endeavor to achieve long-term capital growth by investing in some of the largest foreign and domestic cannabis and hemp-derived CBD companies. The two AdvisorShares ETFs have a combined AUM of over US$880,000,000 as of January 22, 2021.

Keep reading... Show less

Canopy Animal Health, Martha Stewart, and Marquee Brands Launch a New Line of CBD Products for Pets

Martha Stewart’s CBD for Pet line features science-backed, gourmet-flavored CBD soft-chews and oil drops for dogs and carries the NASC Quality Seal

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and vaporization device company, announced today the launch of Martha Stewart CBD for Pet a new line of scientifically-backed CBD wellness solutions for canines developed by Martha Stewart with her own beloved dogs in mind.

Keep reading... Show less