The Week In Cannabis: A&F Tries CBD, GW Pharma Soars On Results, Denver Decriminalizes Mushrooms – Yahoo Finance
Meanwhile, Senate Minority Leader Chuck Schumer and New York Rep. Hakeem Jeffries introduced a series of bills that would decriminalize cannabis on the federal level in both houses of Congress. These laws would also remove marijuana from the Controlled Substances Act and create a fund for record expungement programs, among other things.
Over the last five trading days:
Here are some of the top marijuana stocks (market cap above $500 million) in U.S. exchanges and how the performed over the last five trading days:
The newly appointed executives are set to broaden their roles at the firm and portfolio companies in the coming months.
Commenting on the fund’s new hires, Merida’s Managing Partner Mitch Baruchowitz said, “Tom and Pam are Fortune 500 executives with experience in health care, strategy, governance and other areas that will help our portfolio in myriad ways. This is another validation of Merida’s institutional approach and the broader industry at large.”
Last month, Merida announced its $200 million Third Fund, which will focus on high conviction investments in leading companies in the cannabis ecosystem. Since 2016, the fund has deployed $80 million across its first two funds. Current assets under management stand at $150 million.
“We are thrilled to be working with Califormulations on the development of hemp CBD beverages; the category is expected to grow exponentially as more consumers embrace CBD products,” said Brian Athaide, CEO of TGOD. “Having the opportunity to leverage the expertise and capabilities of a global leader like Symrise facilitates our entry into the US hemp CBD market, providing flexibility and agility as we scale up. With this partnership, TGOD is well positioned to capitalize on the quickly evolving cannabinoid beverage market.”
Building on an existing agreement that entitled Canopy Growth to 10 percent of Pharmhouse’s flowering space, this announcement ups that agreement by an additional 20 percent, committing Canopy Growth to 30 percent of the supply to be generated by the 1.3 million square foot greenhouse. Pharmhouse now has a full 50 percent of its future supply committed. Deliveries to Canopy Growth from PharmHouse are expected to commence late in the second half of this year when the state of the art greenhouse comes on line.
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Also, when it comes to benefits, cannabis employers are enticing senior-level candidates with traditional benefits like dental and vision insurance, but are already looking ahead to the future of the workplace, where the demands of younger generations who prefer more flexible work-life balance will usher in new benefits like commuting expense reimbursements and in-office stress relief initiatives. Download the full report here: Cannabis Talent Market Report.
“In an effort to craft the finest quality products on the market and provide our customers with true and accurate information, we have paired our Ionic Certified Clean program with the trust and transparency Lucid Green platform. Our pairing of Certified Clean with Lucid Green allows IONIC BRANDS to provide consumers with the highest quality products, with the best curated experiences. This testing ensures that we deliver to our customers the safest and cleanest products possible. IONIC Brands strategy strives to create unyielding brand loyalty through safe and effective products that results increase product demand.”
“Closing this acquisition is a major milestone for CROP, as it is the largest transaction we have ever completed,” said Michael Yorke, CEO and Director at CROP Corp. “We now have the largest licensed recreational cannabis farm in the United States, and perhaps the world with over 1,000 acres of which 40 acres will be planted this year. Over the next year we are in a great position to aid the explosive growth of the cannabis crop production sector, and our Nevada property is helping us make history one farm at a time.”
Here are some of the most interesting cannabis-related stories from this week.
The New York Times came out with a report on China’s intent to snatch up a big piece of the CBD market.
Curaleaf acquired Ohio Grown Therapies’ cultivation and processing licenses for $20 million.
Activist investor Mick McGuire’s hedge fund Marcato Capital Management came out against Canopy Growth’s acquisition of Acreage Holdings.
MJ Freeway shared some 4/20 sales data.
Canopy Growth announced a new global brand that will include all of the company’s medical operations: Spectrum Therapeutics.
The author also shared a look into how athletes use cannabis for training and recovery.
TD Ameritrade explained how to invest in cannabis as the industry matures.
We spoke with the CEO of Vinzan International.
For business operators and investors attending the event, host organization Greenhouse Ventures will provide insight into the launch of a new International Commercialization Incubator that aims to position Philadelphia and the tristate region as a landing pad for international startups seeking U.S. market entry. Companies selected to join the Commercialization Incubator will benefit from university research and corporate partnerships, discounted and pro-bono services, as well as assistance navigating complex barriers like banking, immigration, housing, and marquee client acquisitions.
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