The Daily Hit is a recap of the top cannabis business stories for April 21, 2022.
On The Site
AFC Gamma, Inc. (NASDAQ: AFCG) has provided a senior secured credit facility of up to $82.5 million to Bloom Medicinals Holding Company, a privately held multi-state cannabis operator with licenses in Missouri, New Jersey, and Ohio. Bloom said it plans to use the money from the new credit facility to repay existing debt, fund expansion initiatives, acquire a Level 1 Cultivation license in Ohio and provide additional working capital. Read more here.
ICANIC BRANDS, LEEF HOLDINGS
Icanic Brands Company, Inc. (OTCQB: ICNAF) has acquired all of the common stock of LEEF Holdings, Inc., a California based extractions company, in a merger agreement dated January 21, 2022. “This is an extremely exciting milestone for LEEF and our entire team,” said LEEF CEO Micah Anderson. Read more here.
Ascend Wellness (OTC: AAWH) has opened its store in Rochelle Park, New Jersey for legal adult-use cannabis sales. The company opted to start opening day with appointment-only visits. Read more here (VIDEO).
GREEN THUMB INDUSTRIES
Green Thumb Industries (OTC: GTBIF) began selling adult-use cannabis for the first time at its Rise dispensaries in New Jersey. April 21 was the first day that the state of New Jersey cannabis companies could legally sell recreational marijuana. The company was able to start sales at the Bloomfield and Patterson New Jersey stores. Read more here (VIDEO).
In Other News
Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), an international provider of consumer products in cannabis, today announced that it has been approved by the New Jersey Cannabis Regulatory Commission to commence adult-use cannabis sales. Starting today, April 21, 2022, the Curaleaf dispensary in Bellmawr will begin serving adult-use customers, with Edgewater Park and Bordentown to quickly follow. Read more here.
HUMBLE & FUME INC., CANNDESCENT BRANDS
Humble & Fume Inc. (CSE: HMBL) (OTCQX: HUMBF), a North American distributor of cannabis and cannabis accessories, announced that it’s subsidiary Humble Cannabis Solutions has officially begun operations in the California market and signed an exclusive distribution services agreement with leading California brand house, Canndecent Brands. Read more here.
THE VALENS COMPANY, GREEN ROADS INC.
The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS), a manufacturer of cannabis products is pleased to announce that its wholly-owned subsidiary Green Roads, Inc., has entered into an agreement with Signifi Solutions, Inc. to place cloud-managed Green Roads smart kiosks in various premium mall locations around the U.S. Read more here.
BESPOKE FINANCIAL, PAYQWICK
Bespoke Financial, a Fintech lender providing debt financing to cannabis companies, today announced its strategic partnership with PayQwick, the cannabis industry’s most comprehensive treasury, and financial services platform. The partnership provides a compliant one-stop shop for cannabis businesses to access Bespoke’s lending products and PayQwick’s invoicing, electronic bill pay, armored car cash pick-up, wire transfers, and other financial services. Read more here.
CHALICE BRANDS LTD.
Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF), a cannabis company specializing in retail, production, processing, wholesale, and distribution, announced the signing of definitive agreements and services agreements to acquire two retail stores located in Bend and Corvallis, Oregon, from Miracle Greens, Inc. and two outdoor cultivation assets in Grants Pass, Oregon from Totem Farms, LLC for total consideration of US$2.63 million. Read more here.
Allied Corp. (OTCQB: ALID) announced that it has initiated three major commercial exports of Colombian-produced dried cannabis flower. One export is intended for Australia, and the other two exports are for the United States. The starting export volumes are for 1000, 1000 and 500 kilograms respectively. Allied only exports cannabis flower to countries where it is legal to do so (for example, in the United States the THC levels need to be less than 0.3%). Read more here.