It was a shortened trading week with Martin Luther King’s day celebrated on Monday.
Still, we’ve got a couple of acquisitions to report this week.
Tilray (TLRY) acquired Natura Naturals in a deal valued at $70 million. Natura gets $35 million at the closing, but if they hit certain milestones it could go higher. Last July Emblem said they were buying Natura for $75 million but that deal never went through.
High Times is buying the European cannabis event called Spannibis that is held in Spain. The company is paying $3 million in cash and $4 million in company stock.
Cronos Group (CRON) closed on a $65 million credit facility.
KushCo Holdings (KSHB) closed on a $34 million offering.
Doyen Elements International, Inc., announced its rebranding and renaming itself to Covalent Collective, Inc. In addition, the Company announced Bill Gregorak as Chief Executive Officer, effective immediately.
The news that took this week was an announcement by Acreage Holdings (ACRG.U) that it had tried to place an ad advocating for patients of medical marijuana to the Super Bowl. It was rejected by CBS who said it wouldn’t run cannabis ads. The ad featured three patients who told their stories of being helped by medical marijuana, not necessarily Acreages. It wasn’t promoting Acreage or suggesting you buy their product. Even though CBS won’t allow the ad, the stadium in Atlanta Georgia will be running a promotion for a CBD coffee product. So, that could be interesting if the cameras accidentally broadcast the stadium ad. That could get tricky