Marijuana Money July 23, 2021

July 10 or Dab Day is turning into a dud day. It’s also called “oil” day and the idea is that 710 upside down spells oil. This year total US cannabis sales decreased by -10.4% over an average of the previous four Saturdays. concentrates sales increased by 24.1% and were the only category that enjoyed positive growth.

Ayr Wellness Inc. (OTC: AYRWF) is buying Nevada-based Tahoe Hydroponics Company, LLC in a deal valued at $17 million. It is a cash and stock deal that will consist of $5 million in cash, $3.5 million in debt, and approximately $8.5 million in stock. Tahoe Hydro operates roughly 33,000 square feet of total cultivation and manufacturing space in its facilities in Carson City, Nevada, and Sparks, Nevada.

Entourage Health Corp. (formerly WeedMD Inc.) (TSX-V:ENTG) (OTCQX:WDDMF) announced preliminary unaudited revenues of $13.6 million for the three months ending June 30, 2021. The company said this was another sequential quarter of record sales growth across its adult-use and medical sales channels.

Clever Leaves Holdings Inc. (Nasdaq: CLVR) closed on $25 million in financing from Catalina LP, an affiliate of SunStream Bancorp Inc., a joint venture initiative sponsored by Sundial Growers Inc. (Nasdaq: SNDL).

Empower Clinics (OTC: EPWCF) is selling its legacy cannabis assets for $1 million and said it plans to fully focus on its integrated healthcare business. 

Michigan-based Gage Growth Corp. (CSE: GAGE) has added another high-profile name to its dispensaries. Gage and Pure Beauty have entered into an exclusive five-year partnership agreement to launch Pure Beauty’s line of premium cannabis products in Michigan, pending Michigan. Pure Beauty is a California-based boutique cannabis brand that combines art, culture, and style with sustainable and social justice practices.

And finally, Harborside Inc. (CSE: HBOR), (OTCQX: HBORF) announced that Peter Bilodeau has been asked to step down from his role as Interim Chief Executive Officer effective immediately, and Matt Hawkins, Chairman, will assume the position of Interim CEO while the company completes its search for a successor.

Video Staff


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