Massachusetts Tracker
MA weekly sales have declined the past four weeks after they hit a record of $26 Million during the week of 4/16/21. During the week of 5/7/21, the most recent week of data, MA adult-use had sales of $21 Million, a 12.5% decrease from the week prior. The state currently has a run rate of $1.14 Billion for adult use only.
Curaleaf Acquires CO's Los Sueños
There is a growing number of people that believe that you don't want to be in cultivation post-legalization. That said, Curaleaf will pay $67 Million to acquire the cultivation and retail assets of Los Sueños Farms. 61% of this deal will be paid in Curaleaf shares, 29% in cash at closing, and 10% in debt. An additional $8 million payment will be paid by Curaleaf contingent on operating cash-flow targets. Curaleaf will receive three cultivation sites totaling 66 acres and two dispensary locations operating under the name Emerald Fields. The acquisition will add over 50,000 pounds of yearly wholesale capacity which Curaleaf intends to double. “Ultimately, our goal is to cultivate cannabis at less than $100 per pound, and this acquisition is a significant step in the right direction,” Curaleaf Executive Chair Boris Jordan in a statement. Colorado is arguably the most mature recreational US state, and consumers are seeking a value retailer of cannabis similar to Canada. This strategic acquisition will assist Curaleaf in achieving this value proposition it will provide to Coloradans.
Health Canada Approves Cannabis Inhaler
Health Canada, Canada's cannabis regulatory agency, approved a cannabis inhaler made by Tel Aviv-based Syqe Medical. This was the fourth medical license granted for a cannabis vaporizer (not vape) by Health Canada. The three other licenses are for Volcano Medic, Mighty Medic, and Volcano Medic 2 – all of which belong to Canopy Growth Company. Canada is an excellent example of how Cannabis can be medically researched applied in various situations to help struggling patients.
