Florida Tracker
Florida sales SPIKED this past week, as shown in the graph below. THC sales were up 20%, while CBD sales were up 29%. Companies seeing the most significant increases in terms of market share are Trulieve, Harvest, and Verano. These gains are being taken from Ayr, Curaleaf, and iAnthus. Ayr wellness opened one dispensary location in the state this past week.
Trulieve Harvest
Trulieve has completed the acquisition of Harvest Health, making it the most prominent US MSO in terms of retail locations. Trulieve has 149 retail locations in the U.S. after the combination surpassing Curaleaf, which has 114 locations. The footprint will be spread across 11 states and three regional hubs in Florida, Arizona, and Pennsylvania. Trulieve, one of the most profitable companies in the cannabis, will be combining finances with Harvest, which has had mediocre profitability. "The closing of this transaction marks a transformational milestone in our company's history and positions Trulieve as the leading medical and adult-use cannabis operator in the U.S.," stated Kim Rivers, Chief Executive Officer at Trulieve. Shares of Harvest will be delisted on October 4 from the Canadian Securities Exchange.
C.A. Pot Bust
The illicit market is still alive and well in California despite efforts to the crackdown. Alameda County sheriffs seized over 100,000 plants and $10 Million in cash. "This organized and sophisticated network of individuals were making tens of millions of dollars in profit and avoiding California marijuana regulations," the county sheriff Ray Shelly said in the post. "The enormity and complexity of this illegal grow operation cannot be expressed in words or pictures; it's unbelievable," Kelly posted. It seems as though every few months, there are very large drug busts of illegal operations. Unfortunately, these operations are difficult to stop and will remain prevalent in California.
Khiron Life Sciences
KHRNF provides a corporate update on its global medical cannabis operations. Latin America: Medical cannabis prescriptions grew by more than 40% Q/Q and exceeded 35,000 units YTD, 600% more than the 2020 fiscal year. Total medical cannabis patients in Q3 increased to more than 9,600, up 32% from Q2 2021. Europe: Europe generated 30% of the Company's medical cannabis sales in Q3 2021. Germany revenues are expected to grow more than 80%, and U.K. revenues are anticipated to grow more than 70% Q/Q. Health Services: YTD patient visits at Khiron clinics have exceeded 104,000, topping all patients in 2020. Total quarterly patient visits at Zerenia were up 18% over the prior quarter. Khiron will expand its flagship clinic brand, Zerenia, to the U.K., with the first Zerenia opening in London in Q4 2021.
