Tomorrow, on Oct. 17, Canada\u2019s adult-use cannabis market will open up to the public \u2014 and many of the companies operating in Canada\u2019s new cannabis industry are not only focused on their own country, they\u2019re\u00a0also looking to purchase and partner with some of the United States\u2019 top cannabis companies.<\/p>\n
These acquisitions are part of what\u00a0Forbes<\/a>\u00a0recently called a \u201cwave of consolidation\u201d in the cannabis industry.<\/p>\n Some of the consolidation is happening within Canada\u2019s borders. For example, the report noted that, in July, two Canadian companies merged in the industry\u2019s largest acquisition to date, as\u00a0Aurora Cannabis<\/a>\u00a0purchased\u00a0MedReleaf<\/a>\u00a0for\u00a0$2.3 billion. The merger of the two licensed producers created a company with a potential annual yield of 570,000 kilograms of high-quality cannabis.<\/p>\n But increasingly, Canadian capital is crossing the border. In another deal noted by\u00a0Marijuana Business Daily<\/a>\u00a0last week, Toronto\u2019s\u00a0Tidal Royalty<\/a>\u00a0cannabis industry investment house announced plans to purchase\u00a0Alternative Medical Enterprises<\/a>, a cannabis research firm based in Sarasota, Florida, for $8 million. Tidal Royalty has also made a $12.5 million investment in Oregon-based cannabis cultivator\u00a0Diem Cannabis<\/a>, according to the report.<\/p>\n Toronto-based\u00a0Captor Capital<\/a>, a vertically integrated cannabis company,\u00a0also recently acquired\u00a0Chai Cannabis<\/a>, a dispensary in Santa Cruz, California, for roughly $6 million. The purchase added a fourth California retail outfit to Captor\u2019s stateside holdings.<\/p>\n And Ottawa-based\u00a0CannaRoyalty<\/a>\u00a0in April entered into a multimillion-dollar deal to acquire\u00a0FloraCal Farms<\/a>\u00a0of California\u2019s Sonoma County. One month earlier,\u00a0CannaRoyalty acquired three other California outfits \u2014 cannabis distributors\u00a0RVR<\/a>\u00a0and\u00a0Alta Supply<\/a>, and Kaya Management, a manufacturer of edibles and vaporizers.<\/p>\n Another notable acquisition was announced at the end of September, when the British Columbia-based cannabis consultancy and umbrella company\u00a0HollyWeed North Cannabis<\/a>\u00a0issued a letter of intent to purchase\u00a0Women Grow<\/a>, a firm established in Colorado in 2014 as an educational and network king enterprise to promote women in the cannabis industry.<\/p>\n HollyWeed has multiple brands and is among nearly 600 companies applying to become licensed producers as Canada goes legal this month. It is seeking acquisition, which describes itself as \u201ca for-profit entity that serves as a catalyst for women to influence and succeed in the cannabis industry.\u201d While Women Grow operates in 17 states, its activities have recently started to contract amid leadership changes, as\u00a0Marijuana Business Daily<\/a>\u00a0reports.<\/p>\n HollyWeed North CEO Renee Gagnon announced the letter of intent in a Sept. 28\u00a0press release<\/a>. \u201cFor almost four years, it has been my pleasure to share in the phenomenon that is Women Grow,\u201d Gagnon stated. \u201cWomen are the cornerstone of the cannabis industry and it is HollyWeed North\u2019s goal to ensure that women succeed and thrive in this exciting emerging industry.\u201d<\/p>\n The statement said that final terms on the deal will be announced at a later date, and that the transaction \u201cis subject to due diligence and exchange approval.\u201d<\/p>\n Despite the trend of many Canadian companies<\/a> acquiring U.S. cannabis businesses, there has also been some movement in the other direction.<\/p>\n The Marijuana Business Daily report also recalled that last year the\u00a0TMX Group<\/a>\u00a0\u2014 parent company of the Toronto Stock Exchange and the TSX Venture Exchange \u2014 warned that companies with direct business ties to U.S. firms could be delisted.<\/p>\n This prompted some Canadian companies to divest their U.S. holdings. For instance, Ontario-based cannabis producers\u00a0Aphria<\/a>\u00a0divested the last of its U.S. cannabis assets with the sale of Florida-based\u00a0Liberty Health Sciences<\/a>.<\/p>\n However, Aphria CEO Vic Neufeld called the move \u201conly a temporary departure from investment in the U.S. cannabis industry,\u201d and stressed that Aphria \u201cintends to be a significant player in the U.S. cannabis industry at the appropriate time in the future.\u201d<\/p>\n TELL US,<\/b>\u00a0do you think the cannabis industry should be globalized?<\/p>\n The post Canadian Companies Acquire U.S. Cannabis Businesses Ahead of Legalization<\/a> appeared first on Cannabis Now<\/a>.<\/p>\n
Tomorrow, on Oct. 17, Canada\u2019s adult-use cannabis market will open up to the public \u2014 and many of the companies operating in Canada\u2019s new cannabis industry are not only focused on their own country, they\u2019re\u00a0also looking to purchase and partner with some of the United States\u2019 top cannabis companies. TheseContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":190,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[635,630,34,50,216,1228,170,1318],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/29932"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/190"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=29932"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/29932\/revisions"}],"predecessor-version":[{"id":29933,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/29932\/revisions\/29933"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=29932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=29932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=29932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Canada\u2019s HollyWeed Announces Intent to Acquire Colorado\u2019s Women Grow<\/h4>\n
Canadian Stock Exchange Warns Firms Over Ties to U.S. Companies<\/h4>\n
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\nRead More: Canadian Companies Acquire U.S. Cannabis Businesses Ahead of Legalization<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"