HEXO Corp. takes over Zenabis Global Inc.
HEXO Corp. (TSX: HEXO; NYSE: HEXO) and Zenabis Global Inc. (TSX: ZENA) has entered into a definitive agreement whereby HEXO will acquire all of the issued and outstanding common shares of Zenabis in an all-share transaction valued at approximately $ 235 million.
Clever hands added to NYSE-listed cannabis ETF ‘THCX’
Clever Leaves Holdings Inc. (Nasdaq: CLVR, CLVRW) was added to the Cannabis ETF (NYSE: THCX), which is traded on the New York Stock Exchange.
“As one of the few global cannabis operators, inclusion in the Cannabis ETF enables us to reach a much broader group of investors interested in the value our multinational platform offers,” said Clever Leaves, Chief Executive Officer Kyle Detwiler. “This milestone comes at the perfect time as we continue to expand our activities and sales across five continents.”
PacRoots Announces Share Purchase Agreement with Lords of Grasstown
Pac Roots Cannabis Corp. (CSE: PACR; OTCQB: PACRF) announced a share purchase agreement with the shareholders of Lords of Grasstown Holdings Ltd.. The total purchase price consists of a cash payment of $ 50,000 and the issuance of a total of 6,000,000 common shares.
“PacRoots is thrilled to partner with such an incredible brand and history, powered by artists with a passionate vision that resonates with a huge community,” said PacRoots President and Chief Executive Officer Patrick Elliott. “The creators, designers, and marketers of Lords of Grasstown have a truly unique and talented proposition that will be invaluable to the PacRoots organization. The Grasstown culture complements PacRoots’ foundation for diversity and quality on the west coast. This platform brings with it a tremendous following that includes these properties well positioned to excel in the BC and California West Coast marketplaces. “
Agrify Announces Pricing for $ 75 Million Public Offering of Common Stock
Agrify Corporation (NasdaqCM: AGFY) announced the pricing of a subscribed public offering of 5,555,555 common shares at a public price of $ 13.50 per share for gross proceeds of approximately $ 75 million. Maxim Group LLC acts as the sole book-running manager in connection with the offer.
Ovation Science Listing on OTCQB under the symbol OVATF
Ovation Science Inc. began trading on the OTCQB under the symbol OVATF and continues to trade on the Canadian Stock Exchange under the “OVAT”.
“This OTCQB listing is another milestone in Ovation’s expansion strategy as we raise awareness of our growing business and our proprietary topical and transdermal cannabis products,” said Ovation’s chief executive officer Terry Howlett. “This is an important step that will allow us to gain access to a wider range of investors and expand our investor base in multiple markets. With the recent surge in interest and deals in the US cannabis industry, we believe this listing is timely and is an important step in our continued goal of increasing shareholder value. “
General Cannabis Corp Expands Financing Round for Convertible Notes
General Cannabis Corp. (OTCQB: CANN) has raised an additional $ 1.66 million of its senior convertible notes, bringing the total raised in the round to $ 4.6 million. The additional capital will be used to make improvements to the company’s SevenFive Farm greenhouse cultivation facility, pay the balance of its outstanding debt, and provide supplies.
“We are pleased to have oversubscribed our convertible bond offering and we are pleased to add a new capital partner as another long-term, value-adding investor,” said General Cann, Chief Executive Officer Steve Gutterman. “We will use these additional funds carefully to further expand the business and strengthen the balance sheet.”
Lobe Sciences signs definitive purchase agreement with Ionic Brands Corp.
Lobe Sciences Ltd.. subsidiary Green Star Biosciences Inc.. signed a final binding purchase agreement with Ionic brands For certain assets held by Lobe’s subsidiaries in connection with Cowlitz County Cannabis Cultivation Inc. The total proceeds of $ 32,000,000 will include a combination of cash, secured note and preferred stock of Ionic Brands Corp.
Zoned Properties strengthens partnership with The Open Dør
Zoned Properties, Inc. (OTCQB: ZDPY) contributed $ 100,000 in additional investment capital to the retail franchisor The open Dørand brings its total investment to $ 200,000.
“After the years of market research, conceptualization and fundamental business development that led to The Open Dør launch last December, we have already seen more interest, momentum and opportunity than originally anticipated,” said the Chief Executive Officer of Zoned Properties Bryan McLaren. “We believe strengthening our investment position and the partnership between Zoned Properties and The Open Dør has been a beneficial next step for all parties to drive the market growth opportunities.”
Verano Holdings Announces $ 100M Private Placement
Verano Holdings Corp. (CSE: VRNO) has signed an agreement with Beacon Securities Limited and Canaccord Genuity Corp. under which it will sell 3,510,000 Company special warrants in a private placement based on a purchased deal at a price of $ 28.50 per warrant for a total of $ 100,035,000. The offering is expected to close on or around March 11, 2021.
Acreage Announces Sale of Florida Operations to Red White & Bloom Brands
Acreage Holdings, Inc. (CSE: ACRG.AU, ACRG.BU) (OTCQX: ACRDF, ACRHF) Subsidiary High Street Capital Partners, LLC made a final agreement with Red White and Bloom Brands, Inc. (CSE: RWB) (OTCQX: RWBYF) under which RWB will acquire all of the issued and outstanding common stock of Acreage Florida, Inc. for a total purchase price of $ 60,000,000.
“The sale of our Florida operations is an important step in our previously announced operational strategy to focus on the core markets that we believe will accelerate our path to profitability and enable us to achieve significant long-term growth and cash generation Acreage Holdings chief executive officer said Peter Caldini. “The cash proceeds will significantly strengthen our balance sheet and enable us to accelerate our facility expansion projects and open additional pharmacies to support our growth in key adult cannabis states such as Illinois and New Jersey.”
Indus Holdings, Inc. announces the acquisition of Lowell Herb Co.
In a transaction valued at approximately $ 39.0 million in cash and subordinated voting shares, Indus Holdings, Inc. (CSE: INDS; OTCQX: INDXF) Lowell Herb Co. and Lowell smokes Brand brands, product portfolio and production facilities from The hacienda groupIn connection with the acquisition, Indus intends to change its company name to Lowell Farms Inc.
Subordinated voting shares and warrants will trade on March 5, 2021 under the ticker symbols LOWL and LOWL.WT on the Canadian Stock Exchange. Subordinated voting shares will be traded on March 5, 2021 under the ticker symbol LOWLF on the OTCQX.
“The combination of Indus and Lowell will create a leading producer of California cannabis and the next step for the first major American cannabis brand,” said Gregory Heyman, founder of Beehouse, Lowell’s largest investor. “The Indus team’s dedication to growing excellent cannabis, and the communities they serve, also realizes Lowell’s mission to normalize cannabis in America.”
“The cannabis industry is full of brands competing for our attention, but Lowell has risen to the forefront as a brand that simultaneously enables movement, greets the curious, and greets the acquaintances with a grace and elegance other brands can only strive for afterwards, ”said the Indus chairman George Allen. “Every resource we control is used to realize Lowell’s full potential.”
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