PRESS RELEASE Deal Strengthens Curaleaf’s Balance Sheet and Liquidity WAKEFIELD, Mass., Jan. 15, 2020 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today announced the upsizing and closing of a Senior Secured Term Loan Facility (the “Facility”) from a syndicate of lenders totaling US$300 […]
Banking, Finance & Real Estate
Innovative Industrial Properties Acquires Virginia Property and Enters Into Long-Term Lease with Green Leaf Medical
PRESS RELEASE Leading REIT for the Medical-Use Cannabis Industry Expands Portfolio to 47 Properties Comprising Approximately 3.1 Million Square Feet in 15 States SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that […]
What the Cannabis Industry Can Learn from 2019
For anyone outside our industry who was paying close attention toward the end of 2019, the news about layoffs at several cannabis companies may have seemed overly dire. Multiple companies reported a pulling back of their workforce including CannaCroft, Flow Kana, Ease, Emerald Triangle, and WeedMaps. While these weren’t positive headlines for our still booming […]
Missouri’s New Medical Marijuana Industry Puts Banks In A Tough Spot
Robbie Guard sees a green opportunity in Missouri’s newest industry — medical marijuana. He runs the Cape Girardeau office for MRV Banks. The 13-year-old institution has just three locations along the Missouri side of the Mississippi River. As a relatively young bank with a small footprint, it struggles to bring in new accounts. Guard hopes […]
Risky Business: Cannabis Security Interests and Secured Transactions
By Hilary Bricken, Co-Founder Harris Bricken As a corporate and transactional attorney focused mostly on cannabis, I see my fair share of financing documents and transactions involving cannabis operators. It’s no secret many cannabis businesses can’t get bank accounts or loans or lines of credit from financial institutions because of the Bank Secrecy Act and […]
Aurora Cannabis stock slammed by executive departure and insiders selling
Jefferies downgrades Aurora stock to hold from buy and says path to profitability is further away than expected Aurora Cannabis Inc.’s U.S.-listed shares slid 8% Monday, after the company announced the exit of a key executive, amid insiders selling stakes, dilutive financing moves and questions about the company’s path to profitability. The Canadian company, which […]
Marijuana Giant Curaleaf Snags Syndicated Loan in Rare Feat
Marijuana company Curaleaf Holdings Inc. has secured $275 million in financing, one of the first syndicated deals for the cannabis industry. The senior secured term loan comes as traditional banks have steered clear of pot-linked debt amid regulatory concerns. Curaleaf’s deal, mostly provided by a slate of U.S. institutional buyers including hedge funds and loan-only […]
Crapo delivers crushing blow to pot banking
WASHINGTON — Senate Banking Committee Chairman Mike Crapo delivered a significant blow Wednesday to legislation enabling banks and credit unions to serve the cannabis industry, announcing his opposition to a bill designed to help marijuana businesses in the more than 30 states that have legalized the substance. “I have significant concerns that the SAFE Banking […]
Akerna Announces Acquisition of Ample Organics
PRESS RELEASE Transaction Solidifies Akerna as a Global Technology Leader Serving Enterprise Clients DENVER and TORONTO, Dec. 18, 2019 (GLOBE NEWSWIRE) — Akerna Corp. (Nasdaq: KERN), a leading cannabis compliance technology provider, and developer of the industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), has entered into a definitive agreement to acquire […]
Hemp Industry Is Cleared to Do Business With Banks
United States regulators say hemp businesses should not be treated with any more suspicion than other bank customers. The number of banks in the United States willing to lend to hemp producers can be counted on one hand. That is about to change. Federal and state bank regulators announced Tuesday that they were scrapping a […]
Wave of European Cannabis Firms to List in 2020, Analyst Says
LONDON — Up to five companies active in the cannabis industry could go public in 2020 in Europe, a continent whose stock markets have largely missed out on the North-American “pot stocks” frenzy, a leading industry analyst said on Thursday. The legalization of cannabis, including for recreational use in Canada and a number of U.S. […]
Halo Announces Planned Purchase of Mendo Distribution and Transportation, An Operating Northern California Cannabis Distributor
PRESS RELEASE Enables Edibles and Finished Goods Manufacturing Not for Distribution to U.S. Newswire Servicers or For Dissemination in the United States All figures USD unless stated otherwise TORONTO–(BUSINESS WIRE)–Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce it has executed on an Agreement and Plan of […]
The Pot Stock Bubble Has Burst. Here’s Why
Wall Street’s exuberance over legal weed has quickly curdled into sober reality. In a matter of months, white-hot cannabis companies have flamed out in spectacular fashion. Many have lost two-thirds or more of their value. Widespread legalization has been thwarted. Bank financing has dried up. Deep-pocketed institutional investors remain on the sidelines and old-fashioned black-market […]
MedMen Announces Layoffs and Overall Plan to Achieve Positive EBITDA
PRESS RELEASE LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced a strategic plan (the “Plan”) to achieve its target of positive EBITDA by the end of calendar year 2020. The 90-day plan will focus on five key objectives: 1) […]
Tilray, Inc. Reports Third Quarter 2019 Financial Results
PRESS RELEASE Revenue Increased 409% to $51.1 (C$67.8) Million in the Third Quarter of 2019 Compared to the Prior Year Period International Medical Revenue Grew More Than Five-Fold Compared to the Prior Year Period NANAIMO, BRITISH COLUMBIA – Tilray, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, […]
Columbia Care to Acquire The Green Solution, Colorado’s Largest Vertically Integrated Cannabis Operator
PRESS RELEASE Combination will bring together best-in-class medical, health & wellness and legalized adult use capabilities and product portfolios Columbia Care to become the leading operator in the $1.6B Colorado cannabis market – with proforma trailing-twelve month revenue of $138M, the combination will expand the Company’s footprint to 74 dispensaries and 19 cultivation/manufacturing facilities November […]
Cannabis stocks fall as Curaleaf becomes latest company to scale back a big acquisition
Altria CFO says tobacco company is happy with its investment in Cronos, touts acquisition of Lord Jones brand Cannabis stocks were mostly lower Thursday, led by Curaleaf Holdings, after the company became the latest to scale back a previously announced acquisition following a massive re-rating of risk in the sector in the past few months. […]
Kraft Heinz’s VC arm leads $23M investment in cannabis startup
Less than a month after announcing a new Denver HQ, cannabis tech startup Flowhub has closed a $23 million Series A. Flowhub is a cannabis retail software company that helps dispensaries by delivering compliance, point of sale, inventory tracking and business intelligence data from a customizable platform. The company processes over $1 billion in cannabis sales annually and […]
