Marijuana Business Magazine July 2018

Massachusetts Regulations Group Expands Responsible Regulation Alliance, a nonprofit group in Massachusetts advocating for responsible marijuana regula- tions, expanded its advisory board to six members by add- ing Trichome Health , a cannabis company that holds two provisional certificates of registration in the Bay State. The other board members are Coastal Compassion, Massachu- setts Patient Foundation, Mayflower Medicinals, Natural Selections and Acreage Holdings. RRA intends to limit the board to 10 cannabis companies that are either operating or planning to operate in Massachusetts. Award for Fast-Growing, Women-Led Companies Marijuana Business Daily, publisher of MJBizDaily.com and Marijuana Business Magazine, was selected one of the nation’s fastest-growing, women-owned companies. Marijuana Business Daily President and CEO Cassandra Farrington accepted the prize for the No. 9 spot on the list during the Women Presidents’ Organization’s 11th annual awards ceremony in Los Angeles. High Times Buys News Site High Times magazine bought Green Rush Daily , a news website founded in 2015. Terms of the acquisition were not released. First Marijuana Producer Traded on NYSE Canopy Growth debuted on the New York Stock Exchange on May 24, making it the first cannabis-produc- ing company to list on the world’s largest stock market. Prices for the stock fell 6.65% on opening day to close at $28.20. Smiths Falls, Ontario-based Canopy is Canada’s market leader in medical marijuana and began trading under the symbol CGC. It will continue trading on the Toronto Stock Exchange under the symbol WEED. Analysts say the clout that comes with a listing on the NYSE could help Canopy attract institutional capital – and will ulti- mately bring the medical marijuana industry within reach of more mainstream investors. CANADA DEVELOPMENTS A Canadian First Ontario-based Canopy Growth, a licensed producer with facilities in multiple provinces and a retail store chain oper- ating under the brand name Tweed, received permission from Newfoundland regulators to sell cannabis products directly to consumers at the company’s grow facility in the province. It’s the first time in Canada that a cannabis company has received permission to conduct so-called farm-gate sales. The cannabis will be sold from a Tweed store located on the cultivation site property. Tilray Creates Subsidiary Tilray , a Canadian licensed producer owned by Seattle-based Privateer Holdings, created a wholly owned subsidiary, High Park Co. , to produce and distribute a broad-based portfolio of cannabis brands and products. These brands include the cannabis product line Marley Natural, women’s wellness brand Irisa, luxury brand Grail and, for more experienced consumers, Dutchy and Headlight. High Park received its grow license in April and is building a multimillion-dollar cultivation site in London, Ontario. Emerald Health British Columbia grow company Emerald Health Thera- peutics is spending $70 million (CA$90 million) to buy rival cannabis producer Agro-Biotech , a licensed cultiva- tor based in Saint-Eustache, Quebec. Agro-Biotech plans to complete construction of a 50,000-square-foot indoor cannabis-cultivation facility by the end the year. Cannex Acquires Infused Producer Vancouver-based cannabis company Cannex has agreed to buy California infused products company Jetty Extracts in a deal worth up to $30 million. Jetty Extracts, founded in 2013, has a licensed 12,000-square-foot facility in Oakland, California. Supermarket Chain Seeking MJ Sales Licenses Loblaw , one of Canada’s biggest supermarket operators, aims to get into cannabis sales. Some of Loblaw’s locations in Newfoundland are among 23 chosen as “qualified appli- cants” to become licensed cannabis retailers. Coffee Company Partners with MMJ Clinic Second Cup , Canada’s second-largest coffee shop chain, is partnering with Ottawa-based National Access Canna- bis , a cannabis clinic chain, to build a network of branded recreational marijuana stores in Western Canada and other provinces. The shops will not be allowed in Ontario or Que- bec, the country’s two most populous provinces, because marijuana sales there will be done through government-run stores. A spokesperson for Second Cup, based in Missis- sauga, Ontario, said the marijuana stores would be sepa- rate from the cafes. ◆ Have a company announcement you want us to consider? Send a news release or general information to OmarS@MJBizDaily.com . (Note: We’re looking for news about expansions, financing, deals, partnerships and similar developments, not product-related announcements. July 2018 • Marijuana Business Magazine • 115