Here’s your Daily Hit of cannabis financial news for November 6th, 2019.
On the Site
TransCanna Holdings Acquires Lyfted Farms in $6 Million Deal
TransCanna Holdings Inc. announced it is acquiring California-based Lyfted Farms, Inc. in a deal valued at $6 million. The agreed-upon total purchase price was approximately $6,150,000. It will consist of an unsecured non-interest bearing promissory note of $4,000,000, an aggregate cash payment of $550,000 with an advanced deposit of $150,000, and the purchase of around 2,000,000 common shares price at C$0.80 per share.
Zynerba Stock Lifts Slightly On Earnings, Positive Study Results
Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) saw a very small increase in its stock based on positive results from the company’s drug trials. Shares went up two cents in pre-market trading to $7.15. The company’s drug, Zygel, showed promising results for DEE patients in a Phase 2 evaluation.
In Other News
Incubator Program for Illinois Adult-Use Market Dispensary Applicants
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE:CL) (OTCQX:CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, announced the official kickoff of its community impact incubator program, part of its SEED (Social Equity and Educational Development) initiative, in Illinois today. As the cannabis industry’s first comprehensive incubator program, it is designed to provide qualifying social equity applicants with the resources, knowledge, and guidance needed to successfully apply for dispensary licenses in the Illinois cannabis program. Less than one week into the program’s first phase, Cresco Labs is currently engaging 35 groups of applicants – totaling 130 participants – looking to establish businesses in the Illinois cannabis space.
KushCo Holdings Expands CBD Footprint with Launch of New Hemp Trading Business
CYPRESS, CA / ACCESSWIRE / November 6, 2019 / KushCo Holdings, Inc. (OTCQX:KSHB) (”KushCo” or the ”Company”), the premier producer of ancillary products and services to the legal cannabis and CBD industries, has announced today that it has expanded its CBD footprint with the launch of a new hemp trading business focused on facilitating legally compliant hemp transactions for in-network, pre-qualified farmers and a pre-qualified buyer network.
Curaleaf Florida Partnership with “Badges of Courage” Assists Low-Income Breast Cancer Patients
MIAMI, Nov. 6, 2019 /PRNewswire/ — Curaleaf, a leading vertically integrated cannabis operator in Florida, partnered with Badges of Courage throughout the month of October to support low income women who have been recently diagnosed with breast cancer or are currently undergoing treatment.
“We partnered with Badges of Courage in an effort to help alleviate some of the financial burden breast cancer patients face during treatment. Our goal is to establish partnerships with organizations that will have an on-going positive impact in the communities we serve,” said Yesenia Garcia, Curaleaf Florida Marketing Director.