GrowGeneration acquires Agron.io, Char Coir and 55 Hydroponics
GrowGeneration Corp.. (NASDAQ: GRWG), a chain of special hydroponic and organic garden centers, acquired the wholesale purchasing and logistics platform for agriculture Agron.io, RHP certified growth medium Char Coir, and 55 hydroponics, a hydroponic and organic fertilizer superstore in Santa Ana, California that increased its number of acquisitions to eight in 2021.
“As more legal cannabis markets open up across the country, we are expanding and improving our commercial services, from facility design and advice to volume product pricing, to provide world-class support to large growers,” said GrowGen Managing Director Officer Darren Lampert.
MWG Holdings Group, Inc. completes a Series B Preferred Private Placement for $ 10.8 million
MWG Holdings Group, Inc., Parent company of Perfect unioncompleted its preferred Series B private placement for total gross proceeds of $ 10.8 million. The funds will be used for retail expansion and vertical integration.
“The completion of our Series B round accelerates Perfect Union on its way to becoming a leading vertically integrated cannabis retailer in California,” said MWG CEO Chris Running. “We believe that the ability of our management team to work at such a high level and at such a fast pace in difficult conditions while achieving 84 percent year-over-year sales growth and positive EBITDA is exemplary. We intend to maintain this intensity as we consolidate our leadership position in the world’s largest regulated cannabis market. “
Harborside Secures $ 12 Million Revolving Credit Facility
California pharmacy chain Harborside Inc. (CSE: HBOR) (OTCQX: HBORF) has entered into a $ 12 million loan financing agreement with a commercial, federally regulated bank. The company plans to use a large portion of the loan proceeds to purchase a 47-acre manufacturing campus in Salinas, California.
“To the best of our knowledge, Harborside is the first cannabis company in the US to take out a commercial loan of its kind with a traditional lender,” said Harborside’s chief financial officer Tom DiGiovanni. “This deal is the culmination of months of effort and reflects the close collaboration and trust we have built with our bank. By significantly lowering our cost of capital, we can better serve our customers, offer high quality products, and invest more across California. “
Leaf Trade completes $ 5.5M Series A Round
Wholesale market and payment platform Leaf trade completed a Series A preferential round valued at $ 5.5 million and increased total funding to $ 10 million. The round was chaired by Artemis Growth Partners with participation from Future Shape 1.5 and Hyde Park Angels.
“We are fortunate to have great existing partners and to add a strategic group like Artemis,” said Leaf Trade’s chief executive officer James Yi. “With our vision aligned, we can continue to focus on providing best-in-class solutions to customers in the B2B segment of the cannabis supply chain.”
CapStone Holdings Inc. invests in United Green
CapStone Holdings Inc., a business incubator and investment group, made a $ 2 million strategic investment in The United Green, a national cannabis recruitment agency. CapStone said it “is actively considering additional investment positions in the medical marijuana industry.” Previous recipients of investments include Curaleaf and TerrAscendHealth department.
“The medical marijuana industry relies on the reliability and quality of growers and producers as well as skilled personnel at retail locations,” said the founder and chairman of CapStone Keith J. Stone. “This can only be achieved with well-trained, qualified employees and contract staff. With decades of experience in the human resources and recruiting industries and a proven reputation in the cannabis and hemp industries, United Green has huge growth potential. “
Bluma Wellness announces $ 7.5 million loan from Cresco Labs
Bluma Wellness Inc. Subsidiary (CSE: BWEL.U) (OTCQX: BMWLF) 3 Boys Farm, LLC (d / b / a A Florida plant) received a $ 7.5 million loan from a subsidiary of Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF). (“Cresco”). The loan proceeds will be used for investments and tax liabilities.
NewLake Capital Partners and GreenAcreage Real Estate Corp. merge together
Cannabis real estate investment company NewLake Capital Partners, Inc. and GreenAcreage Real Estate Corp. merged under the name NewLake Capital Partners, Inc.
“The combination of our portfolios creates one of the leading cannabis real estate platforms in the industry and positions us as a key long-term real estate partner for our valued tenants,” said NewLake President and Chief Investment Officer Anthony Rabbit. “Diversification is at the core of our strategy and we own some of the highest quality cannabis properties in limited license areas. At over $ 110 million
We intend to aggressively pursue further investment and diversification. We are already in due diligence on several other potential investment opportunities to further accelerate growth. “
Resonate Blends, Inc. Completes Private Placement
Cannabis holding Resonate Blends, Inc. (OTCQB: KOAN) completed its private placement for gross proceeds of $ 3,312,500. The funds will be used to settle previous commitments and introduce Resonate’s KOAN Cordials line of products.
“We have worked diligently to reach this point and are extremely excited as we fully plan to produce our much-anticipated KOAN Cordials,” said the Chief Investment Officer of Resonate Blends David Thielen. “Our goal was to build a broad network of strategic investors who are committed to our long-term growth and values, and who support the management team and vision. The success of this funding round has delivered just that. We look forward to working with this and other networks to build a next generation cannabis company. “
Yooma Wellness Inc. to acquire Socati Corp.
International sales company Yooma Wellness Inc. (CSE: YOOM) acquired a US manufacturer Socati Corp..in a $ 25 million transaction. Yooma is headquartered in Toronto and has offices in Shanghai, Tokyo, Los Angeles, the UK and France.
“Socati’s unique ability to deliver consistent cannabinoid ingredients and finished products that meet industry-leading quality standards makes Socati a natural addition to Yooma,” said the chairman of Yooma Lorne Abony. “The acquisition of Socati further expands Yooma’s global footprint by adding some of the largest consumer brands in CBD and wellness across North America to Socati’s customer base.”
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