Marijuana Business Magazine March 2019

Marijuana Business Magazine | March 2019 122 edibles. The partnership between Shepherd and Grown Rogue features THC- and CBD-infused chocolate prod- ucts under the GRAM and Grown Rogue brands—both wholly owned by Grown Rogue International. Innovative Growers Equipment Makes Illinois Purchase Innovative Growers Equipment in Sycamore, Illinois, acquired the Ebb and Flow tray inventory and customer information of the commercial plant-growing bench division of the Midwest GROmaster company in Virgil, Illinois. Both companies manufacture similar products, with many interchangeable parts. The all-cash transaction closed in December 2018. Terms of the deal weren’t disclosed. Baltimore, Tel Aviv Firms Partner Greater Cannabis , a Baltimore-based biopharmaceutical company focused on development and commercialization of cannabis delivery systems, signed a letter of intent with iCAN , a Tel Aviv marijuana business with multiple units, to expand distribution of its eluting patch platform delivery system into key global markets. The agreement with iCAN will include commercial-ready formulations to meet medical and recreational market demands. L.A., Austin Companies Join Forces Los Angeles-based Applied Biosciences , a diversified cannabinoid therapeutics company focused on the medical, bioceutical and pet health industries, acquired a majority stake in Trace Analytics , an Austin, Texas-based testing and analytics firm with nine employees. Terms of the deal weren’t disclosed. Both firms intend to expand testing offerings to include advanced pesticide testing and heavy metals analysis. These new platforms, once certified, will allow Trace Analytics to certify Washington state’s medical-grade cannabis as well as offer advanced analytical testing to CBD producers and processors around the world. Innovative Industrial Properties Expands Into Illinois Innovative Industrial Properties , a San Diego real estate investment trust (REIT) serving the medical marijuana industry, spent $25 million to acquire and lease out a property in Illinois that is slated to be used as an MMJ cultivation and processing facility. Innovative bought the 10-acre property in Barry, a small town in western Illinois, for $19 million. The REIT also entered into a lease and development agreement with Boston-based Ascend Wellness Holdings and agreed to reimburse Ascend up to $6 million for renovations of the 75,000-square-foot building. Illinois is the ninth state where Innovative owns cannabis-related real estate. Convenient Cannabis Atlantic Farms Gas N’ Grass opened in Portland, Maine, becoming what is believed to be the state’s first medical cannabis convenience store. Atlantic will sell cannabis-infused gummies, tinctures and smokable marijuana to Maine medical marijuana card holders. Gas and traditional convenience store snacks also will be available. CANADA DEVELOPMENTS Alberta Merger Alberta marijuana companies IGC Resources and Westleaf Cannabis closed a brokered private placement of $15 million (CA$20 million), including $2.2 million (CA$2.9 million) from British Columbia-based Tilray. The capital raise was completed in connection with Westleaf’s proposed reverse takeover of IGC, which received conditional approval from the TSX Venture Exchange. The company plans to use proceeds to support expansion. Aurora Bolsters Export Arm Alberta’s Aurora Cannabis agreed to acquire privately held British Columbia-based Whistler Medical Marijuana —one of Canada’s first licensed producers—for $131 million (CA$175 million) in an all-share transaction. The acquisition provides Aurora with a proven export channel; Whistler already has sold medical cannabis derivatives to companies in Australia and the Cayman Islands. Whistler’s two indoor licensed production facilities are anticipated to have a combined production capacity of more than 11,000 pounds (5,000 kilograms) per year. Company News | U.S. & Canada