Marijuana Business Magazine October 2019

Marijuana Business Magazine | October 2019 26 Tilray Expands Into Alberta Canadian cannabis producer Tilray is expanding into Alberta’s recreational marijuana market with the planned acquisition of retailer Four20 for $82 million (CA$110 million). Four20 has six of Alberta’s 277 adult- use cannabis locations. It is Tilray’s first agreement to acquire a cannabis retailer in Canada outright after taking small positions in Spiritleaf and Westleaf. Zenabis Langley Wins Cultivation License Zenabis Global of Vancouver, British Columbia, announced that Health Canada approved a cultivation license for Zenabis Langley, a growing and packaging location that stands to increase the company’s dried cannabis production by 30%, or up to 9,900 kilograms (21,826 pounds). Including the new location, Zenabis now has 438,200 square feet of licensed operational space. Construction continues on an additional site, which will add up to 86,200 kilograms of production capacity . Pure Sunfarms Enters Supply Agreement Pure Sunfarms , a joint venture of Village Farms International and Emerald Health Therapeutics in Delta, British Columbia, entered an agreement to sup- ply the British Columbia Liquor Distribution Branch (BCLDB) with cannabis products for the recreational market in British Columbia. Pure Sunfarms will ship packaged product to the BCLDB, as well as the Ontario Cannabis Retail Corp. (OCRC). Pure Sunfarms entered into a supply agreement with the OCRC in February 2019. Aurora Cannabis Acquires Hempco Food and Fibre Aurora Cannabis of Edmonton, Alberta, acquired all of the issued and outstanding common shares of Hempco Food and Fiber , making Hempco a wholly owned subsidiary of Aurora. Each Hempco shareholder will receive 0.08659 Aurora shares for each Hempco share, making Hempco a wholly owned subsidiary of Aurora. Hempco provides Aurora with access to low-cost, high-volume raw hemp material for the extraction of cannabidiol and other cannabinoids. It is nearing completion of a 56,000-square-foot facility in Nisku, Alberta, intended to process up to 2.9 million kilograms (6.4 million pounds) of hemp per year. Hempco’s brands include Planet Hemp and Praise. Atlas Biotechnologies Expands Into Denmark Alberta-based Atlas Biotechnologies is expanding to Denmark, where the Canadian producer plans to repur- pose a sprawling indoor mushroom farm for medical cannabis cultivation. The initiative, expected to cost $27 million-$37 million (CA$40 million-CA$50 million), aims to be fully operational by the end of 2020. The Edmonton company established a wholly owned subsidiary, Atlas Growers Denmark , to utilize a leased, 170,000-square-foot facility with three- dozen individual climate-controlled rooms. Atlas CANADA DEVELOPMENTS Bhang Enters Supply Agreement Miami-based cannabis company Bhang entered an agreement to import and distribute its full suite of hemp-derived CBD products in European markets, including Belgium, France, Italy, Luxembourg, Spain and the United Kingdom. Bhang’s portfolio includes more than 100 brands and products. Henry’s Original Closes $11 Million Series B Investment Round Henry’s Original , a private California-based, vertically integrated cannabis company, announced it closed a Series B investment led by Merida Capital Partners , a private equity firm focused solely on the cannabis and hemp industries. Henry’s intends to use the funds to expand its cultivation, processing, sales and marketing operations. This investment round also included investments from Big Rock Partners , Delta Emerald Ventures and funds managed by JW Asset Management . The majority of Series A investors also invested in this round as well. MJBizDaily Makes Inc. List Again For the fourth year in a row, Marijuana Business Daily  appears on Inc. magazine’s list of the 5,000 fastest-growing private companies in the United States. MJBizDaily ranks No. 1,421 on the 2019 Inc. 5,000 list. Last year, MJBizDaily was ranked No. 837; in 2017, the company was at No. 528. In its first year on the Inc. 5,000, MJBizDaily was ranked No. 302. Company News | U.S. & Canada