GTBIF is a long
Green Thumb/Cann Micro Dosed Drink
Green Thumb has started carrying Cann Social Tonic's micro-dosed drink, Cann, in their stores in Illinois. These beverages have a small amount of CBD or THC to provide a similar level of effects as a glass of wine or beer. Micro dosing allows the consumer to enjoy the beverage more casually, similar to having a drink after a long day at work. Cann will be available at nine of the ten Rise dispensary locations in Illinois. “The cannabis beverage category is expanding as adults seek alcohol alternatives, and Cann delivers a superior experience,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “We see Cann as a substitute to seltzers, wine, and beer for new cannabis consumers looking to reduce or replace alcohol but still want the familiar social interaction of sharing a drink with friends and family. If you don’t like hangovers, this is for you.”
We are hosting a Fireside chat with Ben Kovler today at 10 AM EST. Ben serves as the CEO and Chairman of Green Thumb Industries. Ben founded GTI in 2014 and has successfully grown it into a national cannabis consumer packaged goods company and retailer that manufactures and distributes a portfolio of branded cannabis products.
Jushi expands in VA
Jushi (JUSHF) announced it signed a definitive agreement to purchase the 93,000 sq. ft. facility, operated by its wholly-owned subsidiary and Virginia-based pharmaceutical processor, Dalitso LLC, together with approximately nine acres of surrounding land in Prince William County, Virginia, for approximately $22 million. Together with Dalitso’s planned buildout of the Facility, the Acquisition will enable Dalitso to efficiently produce a consistent supply of medical cannabis products as patient access improves and as the medical cannabis program matures and expands. JUSHF has operations in CA, IL, NV, and its largest market of PA.
Priming the Pump for a big M&A deal.
HEXO announced yesterday it had filed a new preliminary short form base shelf prospectus with securities regulators in each of Canada's provinces and territories and a corresponding shelf registration statement on Form F–10 with the United States Securities and Exchange Commission. The Base Shelf Prospectus and Registration Statement, when made final and effective, will enable HEXO to make offerings of up to C$1.2 billion of common shares, warrants, subscription receipts, and units or a combination thereof from time to time, separately or together, in amounts, at prices, and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the Base Shelf Prospectus and Registration Statement, when made final, remain valid.
HEXO is getting ready to make a big move into the US market - “We decided to file this new base shelf prospectus and registration statement to provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada,” said HEXO CEO and co-founder Sebastien St-Louis. “We have now started to deploy capital in the United States, are remaining active in M&A, and are in ongoing discussions with potential non-beverage CPG partners, which we expect will require additional capital as we continue to execute on our growth and expansion strategy.”
