Fire & Flower
F&F expanded Digital Strategy with Wikileaf Asset Acquisition and Creation of New Branded Online Dispensaries. Wikileaf, which generates significant user traffic through engaging content and domain name strength, will be boosted by incorporating Hifyre's unique data-driven technology solutions into its existing platform. In addition, Hifyre will transform the Wikileaf website into a virtual online dispensary for cannabis and accessory products utilizing the same e-commerce proprietary technology platform that powers the Fire & Flower retail network. Accessory products will be fulfilled through Fire & Flower's agreement with Humble & Fume (CSE: HBML) announced last month. Total consideration for the purchase is $7.5 million, payable in common shares of Fire & Flower based upon the Company's 10-day volume-weighted average price.
Tracking TLRY
I suspect before long we will be hearing the CEO of TLRY refer to Sweetwater as a "national brand" in his bid to play up the company's ability to be a significant player in the US cannabis market. This might also include other craft beer acquisitions. In the short run, Sweetwater Brewing continues its expansion with increased access to Michigan consumers. The move further accelerates the nation's 11th largest craft brewer into the Great Lakes states. This new market is the 36th state, plus Washington, D.C., that SweetWater has dived into, representing the expansive growth the leading brewing company has experienced over the last several years. Michigan is the 11th new market that the 420 lifestyle-focused breweries have entered this year - joining Colorado, Minnesota, North Dakota, Maine, Nebraska, Wisconsin, New York, Iowa, Vermont, and New Hampshire.
Texas Glimmers
According to Politico, an effort to place a referendum to legalize marijuana in Austin, Texas, on the city’s May 2022 ballot has collected roughly 25,000 petition signatures so far, according to Ground Game Texas Political Director Mike Siegel. To qualify for the ballot, 20,000 validated signatures are needed for the effort. Organizers were originally hoping to get on the city’s ballot this November but struggled to gather enough valid signatures before a July 20 deadline. Moving the goalpost to May bought organizers more time, with their new deadline falling in January. Siegel, who ran as a Democrat for Congress in 2020, says the group is now aiming to collect 35,000 signatures to create a buffer for non-Austin residents whose signatures would not help their totals. Ground Game Texas is tacking both marijuana legalization and a proposed ban on no-knock warrants together on their petition. Siegel says the hope is that people’s enthusiasm for legalizing marijuana will make them more open to the progressive no-knock ban — if the two are a combo.
