JW Asset Management Archives - Green Market Report

StaffDecember 21, 2022


The Daily Hit is a recap of cannabis business news for Dec. 21, 2022.


Unhappy Riv Capital Investors Want to Toss Board

JW Asset Management, the largest shareholder of RIV Capital (OTC: CNPOF), has called for a special meeting of shareholders to replace five of the seven directors on the board. At the heart of the dissatisfaction is the price paid for New York cannabis company Etain. Read more here.

Shaq Wants His Cannabis Money Back

Basketball legend Shaquille O’Neal and business partner Jerome Crawford spent $150,000 investing in Viceroy LLC back in 2017. Viceroy was supposed to use the money to invest in legal cannabis businesses but is now described as a “black hole” with no evidence of having made any efforts with the money. Read more here.

Housing Works Gets First Legal Adult-Use Cannabis Sales in New York

New York will meet its self-imposed end-of-year deadline to launch recreational cannabis sales, with 48 hours to spare. At the state’s Cannabis Control Board meeting Wednesday, the agency’s executive director revealed that the first licensed adult-use marijuana sales will take place Dec. 29 at a dispensary run by the nonprofit Housing Works, one of the 36 retail license recipients announced a month ago. Read more here.

Trulieve Extends 2023 Cash Runway with $71.5 Million in Financing

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) on Wednesday closed on a financing deal that will provide the company additional funds to the tune of $71.5 million. The commercial loan is secured by a cultivation and manufacturing site in Florida, and the company said it will pay interest at a fixed rate of 7.53% for the duration of the five-year loan – a solid rate for the cannabis industry. Read more here. Read more here.

SNDL Bets on Nova for the Long Run, Revises Accord

SNDL (Nasdaq: SNDL) and Nova Cannabis (OTCQB: NVACF) have fashioned new terms for their existing relationship as the two look to grab more market share in a consolidating Canada. Read more here.


Greenway Greenhouse Cannabis Corp.

Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTC: GWAYF), a cultivator of greenhouse cannabis for the Canadian market, entered into a binding third-party purchase and sale agreement for the sale of a surplus greenhouse for a purchase price of C$7.5 million. Read more here.

New Leaf Ventures Inc.

New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) has entered into an amalgamation agreement with High Profile Holdings Corp., pursuant to which New Leaf has agreed to acquire all of the issued and outstanding common shares of High Profile by way of a statutory three-cornered amalgamation. Read more here.

StaffFebruary 17, 2021


While most athletes align themselves with CBD brands,  five-time NBA All-Star Chris Webber announced a partnership with Jason Wild and JW Asset Management, LLC to launch a $100 million private equity cannabis fund that will invest in companies led by entrepreneurs of color pursuing careers in the cannabis sector.

The sports star is also the founder of Webber Wellness, which will join forces with JW Asset Management to invest in underrepresented entrepreneurs in the cannabis industry and provide them with an ecosystem of business resources that will facilitate research and development (R&D), cultivation, retail licensing, distribution, branding, and marketing. JW has been an active investor in the cannabis industry since 2014 with over $2 billion in assets under management, investing in numerous industry leaders spanning multi-state operators, technology, and retail companies. Webber Wellness is a health and wellness company that Webber co-founded with CEO Lavetta Willis, who are both longtime cannabis and CBD advocates.

“As our country moves closer to federal legalization, I believe it is more important than ever to empower the next generation of cannabis leaders in a tangible way,” said Webber. “I’m thrilled to team up with Jason on this endeavor — he’s a visionary in this industry and understands the urgency of supporting minority business leaders in this space.”

Despite growing mainstream demand for legal cannabis, BIPOC entrepreneurs have been largely shut out of business opportunities due to social and financial barriers. According to a report from Marijuana Business Daily, over 80% of cannabis businesses are owned by white people, while less than 10% are owned by Black and Hispanic people. This partnership aims to address these racial disparities and provide entrepreneurs of color access to a burgeoning industry projected to reach $130 billion by 2024.

“It’s crucial that we diversify leadership within the cannabis industry and level the playing field for people from our communities,” said Webber. “For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited. Working with JW, we will equip underrepresented entrepreneurs with the financial resources and industry knowledge to build businesses and thrive.” Jason Wild, the firm’s founder and Chief Investment Officer, is a registered pharmacist and Chairman of Arbor Pharmaceuticals and TerrAscend Corp. JW Asset Management has a history of finding attractive investment opportunities across the healthcare and cannabis industries and actively invests in both public and private markets.

“The legal cannabis industry can only grow to its full potential when all stakeholders have a seat at the table, and I feel that it is my responsibility to play an active role in eliminating barriers to entry for individuals that have been disproportionately targeted by the War on Drugs,” said Jason Wild, Founder and Chief Investment Officer of JW Asset Management. “I look forward to partnering with Chris and his team to elevate talented entrepreneurs and build a more inclusive industry.”

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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