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Cresco Labs to sell marijuana facilities to REIT for $46.3M under leaseback deal

Chicago-based Cresco Labs will sell two cultivation and processing facilities in Illinois to Innovative Industrial Properties, a real estate investment trust company (REIT), for $46.3 million as the multistate operator prepares for a “significant increase in demand” when recreational marijuana sales become legal in the state Jan. 1. The facilities, which will continue to be […]

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A new way to commercialize cannabis in Canada: Q&A with Mark Spear of Wildfire Collective

Wildfire Collective is spearheading Canada’s first exclusively outdoor, multisite craft cannabis operation focusing on high terpene, full spectrum extracts. “This really is something that’s going to help differentiate us when margin compression comes in the near future,” said Mark Spear, founder and CEO of the Ottawa-area company. Unlike many  publicly traded cannabis companies in Canada, Wildfire […]

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Auxly Cannabis closes CA$123 million investment from tobacco giant Imperial Brands

Auxly Cannabis finalized an investment from Imperial Brands worth 123 million Canadian dollars ($92 million), one of the largest investments yet from a tobacco company in the marijuana industry. The British multinational tobacco company picks up a 19.9% stake in British Columbia-based Auxly as part of the deal. In return, Auxly gets licenses for Imperial’s […]

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Canada ‘falling woefully short’ of displacing illicit cannabis market, researcher says

Canada’s regulated cannabis sales accounted for only 14% of total demand by volume in June, according to a new analysis by market researcher TheCannalysts. That’s counter to some estimates that the regulated market “wiped out half the black market” in the first year of legalization, as claimed by the former principal secretary to Prime Minister […]

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Auxly Cannabis Group partner Sunens closes CA$84M credit facilities with Bank of Montreal

Sunens Farms, a federal cannabis applicant in Leamington, Ontario, closed a nonconvertible debt deal underwritten by the Bank of Montreal (BMO). The 84 million Canadian dollar ($63 million) deal consists of a three-year debt facility for CA$71.5 million and a CA$12.5 million leasing facility. Proceeds will finance equipment and the first phase of the company’s CA$150 million […]

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