It’s time for your Daily Hit of cannabis financial news for July 26, 2021.
On The Site
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) is buying WSCC, Inc., also known as Sierra Well, adding two operational dispensaries and an active cultivation and production facility in Nevada along with two real estate properties in Carson City and Reno. The acquisition is a cash and stock deal valued at $29 million with $5.6 million in cash up front and the rest in stock. It is expected to close once approvals are received for the two medical cannabis cultivation licenses; two adult-use cultivation licenses; two medical cannabis dispensary licenses; two adult-use dispensary licenses; one medical production license; one adult-use product manufacturing license; and one adult-use distribution license.
Turning Point Brands, Inc. (NYSE: TPB) is buying the cigarillo company Unitabac, LLC. The purchase includes cigarillo products and all related intellectual property, including Cigarillo Non-Tip (NT) Homogenized Tobacco Leaf (HTL), Rolled Leaf and Natural Leaf Cigarillo Products. The terms of the deal were not disclosed. Cigarillos are typically short, narrow cigars. Unlike cigarettes, cigarillos are wrapped in tobacco leaves or brown, tobacco-based paper. Blunts are standard-size cigars that are hollowed out and filled with cannabis. Several cannabis companies have begun to cater to a smaller blunt option like a cigarillo size.
Colombian President Ivan Duque Marquez has signed a new law that would allow a much larger amount of dry flower to be exported from the country, after a high-profile meeting of Colombian cannabis business leaders with US-listed public companies. The new law, a change to Colombian Decree 613, greatly increases the amount of dry cannabis flower (the flower, stems, and roots) that can be exported from the country, and also allows for cannabis to be put into industrial products like food and beverages and for much more extensive marketing of cannabis products in Colombia.
Delta 8 THC is becoming more popular every day. As more people get to know about the benefits of delta 8 THC, the demand for the products is increasing rapidly. After all, when the product is so effective, everyone will naturally want to try it out. You can buy Delta-8 THC online pretty quickly and get the product delivered to your doorstep. With delta 8 THC products, there is some ambiguity regarding the legality. The legality of THC products evolves rapidly, so it is not easy to keep track of it. If you are in Florida, you might be wondering about the current legal status of delta 8 THC.
In Other News
Gage Growth Corp. (CSE: GAGE)is bringing the iconic cannabis brand COOKIES to Canada. COOKIES is one of the best-known cannabis brands in the world and has one of the largest retail footprints in the industry. The partnership will bring the brand to Canadian consumers for the first time. Gage will work with NOYA Cannabis Inc., a premium hydroponics production company awarded its grow and sales license from Health Canada in 2018, to bring to market hand-selected strains from rapper and entrepreneur Berner and his renowned cultivation partner Jigga. Such hand-selected strains include Gary Payton, Georgia Pie, Medellin, Lions Mane, Soap, Cheetah Piss, Blanco and more. A COOKIES retail store is also planned to open in Canada by the end of 2021.
AgraFlora Organics International Inc. (AGRA) has announced a name change to Agra Ventures Ltd. Shares will begin trading under the new name and with a new CUSIP number on July 28, 2021. The symbol will remain the same.
Awakn Life Sciences Corp. (NEO: AWKN) (OTC Pink: AWKNF), a biotechnology company with clinical operations developing and delivering psychedelic medicines to better treat addiction, today announced approval from the Financial Regulatory Authority for its shares to commence trading on the OTC Market in the United States under the symbol “AWKNF” effective today, July 26, 2021. Awakn will continue to trade on the NEO Exchange under its existing symbol “AWKN”.